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Originally Posted by dude1394
More terrible, terrible results from the evil dubya tax cuts. Please stop dubya, we might all get richer.
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At $16.76, average hourly earnings are nearly 20 percent above year 2000 levels, and 44 percent above the $11.65 level in the fifth year of the Papa Bush/Clinton business expansion cycle.This is the fifth year of the GWB cycle.
Even in inflation adjusted terms, real average hourly earnings are slightly higher than the 2000 peak, and nine percent above the 1995 fifth year average level.
By the way, since President Bush’s supply side tax cuts in 2003, adjusted household jobs (a BLS combination of non-farm payrolls and the civilian employment household survey) have grown nearly 3 million per year over the past three years.
Incidentally, looking at strong profits and productivity, economist Mike Darda thinks the unemployment rate will fall below 4 percent.
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http://corner.nationalreview.com/pos...cxOGUzMzU0ODA= |
Dude, these numbers are not really worth bragging over.
(note: I'm just going to use these numbers, and not suppliment or contradict with any others)
a cumulative increase of 9% since 1995? that translates to an anual growth rate of approximately 0.7%. Less than 1% growth is nothing to crow about ESPECIALLY since the second half of the 1990's saw some really rapid earnings growth... so even averaging that pre-W rapid growth in, we only saw less than 1% anual growth?
Second, I wonder if that number embeds non-wage earnings (ie health insurance, vacation, etc...). I doubt it. And I believe that those non-wage earnings have been stagnant or declining since the 1990s.
Third, a real problem is that the distribution has shifted badly as well. A couple of $300million golden parachutes can mask an awful lot of low-wage earners not seeing ANY increases in their wages.
anyway, my 2c