A Simple Way to Understand the Wage Problem

Posted September 20, 2014
By Clay Cerny

 

A picture – or a graph – can be worth a thousand words. In a recent blog post, Paul Krugman includes a graph that tracks the wages of U.S. workers from 2007-Present. Between 2009-2010, the average wage of American workers takes a sharp drop. In the years since 2010, wages have remained stagnant. This graph helps us understand why many American remain downbeat despite the “good” news about job growth. Too many people are working hard and running in place – or–worse still – falling behind. As Krugman says, our political leaders don’t get it or don’t care. Hopefully they will wake up before it’s too late.