Chart of the Week: AVERAGE HOURLY EARNINGS

February 6, 2006 2:00pm by

As the 5 year chart
below reveals, there has been no wage pressure in the economy over the past 5
years. The most recent drop and snap back late in 2005 is attributed to
Hurricanes “Katrita” (So too the revised Nov/Dec payroll data). 

 

AVERAGE HOURLY
EARNINGS, (constant 1982 dollars) 

Ces_average_hourly_earnings

Source: BLS

Labor Arbitrage via globalization and outsourcing has put a lid on the growth of wages and personal income across all industries. Union negotiations across numerous sectors
(Aircraft Pilots, Auto Workers, Teachers, Police and Fire) have resulted in
either flat or minimal increases – in many cases below the inflation level. Job
creation continues to be primarily in lower paying positions: food service,
health care, and retail (higher paying construction jobs being the exception).

 

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Quote of the Day

“Wall Street’s graveyards are filled with men who were right too soon.”
-William Hamilton

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What's been said:

Discussions found on the web:
  2. David Silb commented on Feb 6

    YOU! And YOUR Random thoughts!!!!!

    I am now depressed. I read the article on early retirement and I am thoroughly chagrined.

    You mean I have to work at not working?!? Barry please…….

    Oh did you catch the free psychic reading at the bottom of the article page? Wonder if they know something we don’t?

    I know lets ask them about the DOW. Lets see if these smarty-pants are better than us.

  3. Anonymous commented on Feb 6

    What article on early retirement?

  4. LB commented on Feb 6

    You should check out the hourly earnings data in constant 1964 dollars. I’m looking at the chart right now. Let’s see…in 1964 hourly earnings were at $2.50. In December 2005, in current dollars, the hourly earnings figure was a preliminary $16.34, but in constant 1964 dollars it is still just $2.56. I don’t know why, but that is just mind blowing to me.

  6. me commented on Feb 6

    I wonder how much those 25,000 make that considered it a step up to apply for 325 Walmart jobs in Chiago?

  7. Enell commented on Sep 7

    What is the average hourly earnings in nonagricultural industries in the U.S. for 2005?

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