From http://www.boston.com/news/globe/editorial_opinion/oped/articles/2006/09/02/another_year_another_wage_loss/ (note: op-ed piece...)
Similar to the suggestion that fast-food jobs be reclassified as manufacturing, the "economic growth" over the last several years appears to also be an illusion that only benefits the top one percent of wage earners. Yeah, there's something trickling down, but it ain't money.
The Census Bureau reported that median incomes for working-age families were down again, for the fifth straight year. Real median income for households under age 65 is down by 5.4 percent since 2000, even though the economy has grown every year. All of that gain has gone to upper-bracket people and corporate profits.
The Economic Policy Institute has released its annual, encyclopedic report, ``The State of Working America." Among its findings: The economy's productivity increased by a remarkable 33.5 percent between 1995 and 2005, but real wages have declined since 2000. Employer-provided health coverage declined from 69 percent in 1979 to 56 percent in 2004. The top 1 percent's share of interest, dividends, and capital gains has risen from 37.8 percent in 1979 to 57.5 percent in 2003.
Similar to the suggestion that fast-food jobs be reclassified as manufacturing, the "economic growth" over the last several years appears to also be an illusion that only benefits the top one percent of wage earners. Yeah, there's something trickling down, but it ain't money.