October 8, 2014
THE ONLY THINGS NO ONE CONSIDERS ARE THE TWO MOST OBVIOUS...:
Why you haven't gotten a pay raise (Catherine Rampell, 10/06/14, Washington Post)
Why haven't you gotten a raise?In the past few years, corporate profits have climbed ever higher. Legions of unemployed people are now finding gainful employment, with joblessness finally falling below 6 percent. Meanwhile, if you're anything like the average American worker, your pay has been flat, just barely keeping pace with inflation. If you're in the very middle of America's income distribution, in fact, your overall household income is lower today than it was when the recession officially ended more than five years ago.This is all a bit of a puzzle.
...(1) in a deflationary epoch you're making more if you earn the same; and (2) your labor isn't worth more money; indeed, it's worth less, so staying the same is a win.
Posted by Orrin Judd at October 8, 2014 6:15 PM
Tweet