The annual earnings of the top 1% of American's earners remain way below their 2007 peak, decreasing 30% from the $1.48 million four years earlier down to $1.05 million in 2011. Despite the fact that the bottom 99% have seen their earnings drop a more modest 12% from their peaks four years ago, their income continued slipping. The average income of $42,826 in 2011 was essentially flat compared to two years ago, meaning that while the elite enjoyed a rebound, others have not. Most of the gains for the country's top earners came in the first year of the recovery, between 2009 and 2010, mostly because of the stock market's revival. The income of the bottom 99% is predicted to grow much more modestly than the top 1%, which again raises the question of equality.
Source:
http://money.cnn.com/2013/02/19/news/economy/top-income/index.html?iid=SF_E_Highlight
Those in
America's bottom 99% had an average income of $42,826 in 2011. That's
essentially flat compared to two years ago -- meaning that while
America's richest enjoyed a rebound, others have not. - See more at:
http://money.cnn.com/2013/02/19/news/economy/top-income/index.html?iid=SF_E_Highlight#sthash.lpkGpZga.dpuf
Those in
America's bottom 99% had an average income of $42,826 in 2011. That's
essentially flat compared to two years ago -- meaning that while
America's richest enjoyed a rebound, others have not. - See more at:
http://money.cnn.com/2013/02/19/news/economy/top-income/index.html?iid=SF_E_Highlight#sthash.lpkGpZga.dpuf
1 comment:
If productivity is not translating into wage gains for workers, then the government may have to step in to create jobs or bring more people into the service sector where increased productivity will more likely influence wages. In agriculture and manufacturing, productivity has increased because of new technology that allows the US to produce at a much more efficient rate.
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