Have wages been stagnant since Bush took office?

Question

http://www.optimist123.com/optimist/2007/11/lets-kill-the-s.html

Perhaps. But wages are only part of the picture. According to the analysis I've linked to above, Employee compensation (that's wages & benefits) has risen nearly 7% since Bush took office.

As always with the numbers I post, that's after inflation has been factored in. In other words, that's a nearly 7% Real Compensation increase.

To Chris H - Do you have a verifiable source for that statement that money for food and rent have gone down?

To fanatics - What award winning economists? Why don't you reference a few?

Chi-Guy - Do you not understand the part about "after inflation" and "real compensation?" That means they've already taken into account the lower value of the dollar, AND THERE WAS STILL NEARLY A 7% GAIN.

Answer 1

My wages have increased and my company has increased in profit for the last five years. The cost of things have increased though too, but not by quiet as much.

But you see, that's the thing. That's simple economics. As wages and earnings rise, so will the cost of goods and services. That's basic and expected.

So I'm happy. The folks you'll get to complain are the ones living in Michigan and think that if they're not getting paid their inflated union wages to make their out dated wagon wheels that the whole country's gone to heck. But that's what happens when reality comes down on the heads of socialists. It tends to be painful.

Answer 2

There are in fact 2 the thank you to advance earnings: decrease value and/or advance quantity. the main high priced area of any company is the payroll so agencies super and small institute the salary reducing and worker roll alleviation inflicting the unemployment. Reinvestment does no longer teach on the spot outcomes, incredibly if spent on infrastructure, so the concern to do is... no longer something. recent legislations to injury unions is basically going to permit the fee reducing (wages) portion of strengthen and could make a contribution to the salary disparity. as lengthy as quantity is stagnant the impressive end (a million%) will proceed to acquire the income that are there yet no longer something will 'trickle down' to the employees. status quo is the conservative suitable and as lengthy as a sluggish economy can shop them (and basically them!) rolling alongside, issues are unlikely to alter for the extra advantageous.

Answer 3

No. Thanks to the devalued US dollar, people are earning more money that is worth less. When you factor in the costs of heating oil this winter and gasoline, forget about it.

edit: Really? So the laid off auto workers in Michigan should NOT be losing their homes then.

How do you have record foreclosures that coincide with an increase in real take-home pay?

Why is the market crashing if people have so much extra cash on hand? Why are people in debt up to their eyeballs? Why is there a deficit with all of this extra spending money?

Whatever right-wing person that came up with his/her numbers with the BLS should step out of their gated community and take a stroll through the real world for a change.

It is laughable to see people (not you) quote numbers like the guy in your link explaining how great life really is for those who are living it, as though people who are living it do not know what is going on around them every day. My health premiums have increased while my coverage has decreased.

Answer 4

Average wages have risen, but these gains are on the higher-end of jobs. Wages in manufacturing and service jobs have seen very little growth in the past couple of decades and with inflation factored in have actually decreased.

Answer 5

They've gone up, but not as much as the cost of health care, utilities, consumer goods, college tuition, housing, and basically everything else you purchase. Cost of living has increased significantly the past several years, and now we are facing an even worse problem with decreasing value of the dollar in the global marketplace. Doesn't look good for the coming future...

Answer 6

It's the same as it ever was. If you have money already the economy is pretty good. If you don't have alot of money the economy stinks. It depends on how you make money. It doesn't matter who's in office.
Just don't feed me the same BS about Bush doing such a great job for "everyone". Everyone isn't doing great under Bush unless you have money.

Answer 7

It's ignorant for you to post this as if bush himself had anything to do with "Employee compensation (that's wages & benefits)" going up.

Answer 8

Great

That means Health Care didn't double it only increased 93%

Answer 9

Even if true, which is suspect, 1% per year does not represent any significant rise in standard of living. And when you factor in increased health and fuel cost, where are the gains??

Answer 10

That's because they count the rise in the price of health insurance. While everyone needs that benefit, the money available for rent and food after taxes has decreased.