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Monday, September 21, 2009

Wages have not kept up with inflation let alone 2009

Income for the Masses Not Keeping Up... For 40 Years

A few weeks ago I detailed the divergence in household incomes showing the top 5% of earrners gained mightily over the past 40 years relative to lower level incomes. But in comparing all those income brackets to the growth of the broader economy (on a per capita basis), even those top 5% earners' didn't keep up with the pace.
So over the past 40 years, the only individuals that have seen their incomes increase at / or greater than the level of GDP were those earning more than those in the top 5% (think top 1%).

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