Productivity growth, although slower of late, has been strong since 2000. After a sluggish start in the period, employment has picked up, although at a slower pace than in past recoveries. Yet, that growth hasn't transferred to workers' paychecks, particularly for workers at the lower and middle end of the pay scale, the report found.Gee what a surprise!! You would think that the country's negative savings rate would have been a tipoff that things weren't so rosy for the workers while the owners reap ever larger profits.
After rising quickly in the second half of the 1990s, most workers real wages have been stagnant in the 2000s, especially since 2003.
While productivity jumped almost 20 percent since 2000, the real median hourly wage of all workers rose just 3 percent in the same period. Since 2003, productivity has risen 5 percent, while the median hourly wage fell 1.1 percent.
Working longer hours for less money ---- Thanks a Republican. The proof is in this report. The disconnect in wages came after the Bush presidency.
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