Sunday, January 27, 2013
Wage Stagnation In the United States
Wages in the United States have stayed relatively the same since the 1970's for male workers. The median salary for male workers has hovered between $40,000 and $45,000 for the last for decades. Women's wages have been rising steadily over the same time period, but started from a much lower wage than men in the 70's. As the article states, education is one source of potential growth but educational attainment in the United States has slowed down, especially for men. It seems that an overhaul of the educational system with a renewed focus on innovative ideas is necessary to buck this recent trend for Americans.
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2 comments:
Andrew,
I would have to agree that an overhaul is necessary. I read an article in The Economist that discussed income inequality but also elaborated on education being a factor that is involved. There was a statistic along the lines of the percentage of high school graduates is at the same rate or lower than 1970 which would be an explanation for the wages as well.
I find it interesting that the median wage has not changed much since the 1970's but that college tuition has done nothing but skyrocket.
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