Are Wages Finally Going Up? Sure, For Some People.

Are wages finally going up? Let’s skip the anecdotal nonsense, shall we? Here are the numbers since the end of the Great Recession:

GDP per capita has gone up 1.5 percent per year since 2009, accelerating to 2 percent over the past year. That’s not bad. America is getting richer, and over the past year has gotten richer at a faster pace.

But it’s a different story for nonsupervisory workers, who make up 70 percent of the labor force. Their earnings have gone up 0.7 percent per year since 2009, accelerating decelerating to 0.6 percent in the past year. This includes the broad working and middle classes, but doesn’t include the college-educated upper middle classes and the rich.

From a macro point of view, wages are finally picking up some steam. That suggests some labor tightness and it’s something for the Fed to consider when they set interest rates. But for all the ordinary working stiffs, 2017 has been a pretty meh kind of year. All those extra riches are going someplace else.

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THE TRUTH IS...

what drives Mother Jones' team of 50-plus journalists. The truth is powerful, as evidenced by how hard those with something to hide, or profit to gain, seek to discredit it. The truth, stated boldly and reported meticulously, is what draws so many readers to Mother Jones.

And the truth is, going into the final 4 days of the year we still needed to raise $TK to hit our $350,000 goal and start 2021 on track. It's nerve-wracking, wondering if the big spike we normally see at the end of December is going to be another thing that doesn't go as planned in 2020, or worse, if, now that Donald Trump is set to leave the White House (for longer than a taxpayer-funded golf trip to a property he owns), folks might be pulling back from fighting for the truth and a democracy and think the hard work is done.

It's not, and if you can right now, please consider a year-end donation to support our team's fearless nonprofit journalism so we can close that big fundraising gap and finish the year strong, ready for all that's ahead in 2021. Whether you can give $5 or $500, it all matters in keeping us charging hard, and we'd be grateful.

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