Meaningless. Note that it measures earnings, not compensation. Benefits aren’t included, so the picture is incomplete.
Some portion is related to the collapse of private sector union jobs - and that’s a good thing.
The writer is either ignorant or intentionally misleading. Either case is sufficient to draw many adherents around here.
“Benefits aren’t included, so the picture is incomplete.”
In 1973 I had a defined-benefit pension and good medical. When I retired I had Obamacare and a lousy 401K. Some benefits.
You can bet total compensation is far lower. In 1973 people got benefits - including defined benefit retirement. Now. Ha.
Why would you think that economic stagnation (at best) is meaningless?
Yeah, that average vs. median thing trips up a lot of people. Sowell would have to write a column about it every year, but even he has given up, I think.
Benefits are new since 1973?
Are we intentionally distorting reality to attempt to make a point?
Healthcare costs have been hidden in benefit packages to a certain extent, but there were a lot more defined pension plans in the 70’s that are long gone.
Personally, I have a lot of extended family members working blue collar jobs & I’ve watched them tread water and lose ground for the last +20 years.
the collapse of private sector union jobs is a good thing?....wow....spoken like a true govt worker living off a fat obscene UNEARNED pension....