betacity


productivity and income
June 23, 2011, 7:20 pm
Filed under: betaCITY, fear | Tags: ,

The following charts show income disparity since 1979, and change in employment since the recession of 2007 began.  You could argue the first chart shows the results of the Reagan revolution; he was inaugurated in 1981.  Or another title could be the Greenspan age, as he was the powerhouse economist who served in every administration since Reagan.  Whatever you want to call it, things are looking up and up if you’re on the red line!

Chart 2 shows the US’s employment performance since the start of the recession.  Canada, France and Germany had less volatile downturns and have actually gained jobs since the beginning of the crisis.

From Mother Jones:

Productivity has surged, but income and wages have stagnated for most Americans. If the median household income had kept pace with the economy since 1970, it would now be nearly $92,000, not $50,000.

All Work and No Pay: the Great Speed Up, Mother Jones

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