The Great Wage Slowdown of the 21st Century

David Leonhardt
The New York Times
October 08, 2014

American workers have been receiving meager pay increases for so long now that it’s reasonable to talk in sweeping terms about the trend. It is the great wage slowdown of the 21st century.

The typical American family makes less than the typical family did 15 years ago, a statement that hadn’t previously been true since the Great Depression. Even as the unemployment rate has fallen in the last few years, wage growth has remained mediocre. Last week’s jobs report offered the latest evidence: The jobless rate fell below 6 percent, yet hourly pay has risen just 2 percent over the last year, not much faster than inflation. The combination has puzzled economists and frustrated workers.

Click here to read more at The New York Times.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Kim Schultz Speaks Out at Women's Conference

In a speech to the Women’s Conference, IBT Vice President Kim Schultz spoke out on the need for more women’s leadership in the Teamsters. In response, some Hoffa supporters booed and walked out. Most attendees listened, applauded and thanked Kim for speaking out. Read the speech and judge it for yourself.

Happy Birthday!—TDU Turns 41 Today

On this day in 1976, a small group of courageous Teamsters met in Kent, Ohio, to form Teamsters for a Democratic Union (TDU).

View More News Posts