Monday, 9 January 2012

Are we getting poorer?

A curious piece of reporting via Huffington Post says that half of all workers in the USA earn an average (mean) of only $26,354 (£17,080). That's right, 1 in 2 people's earnings are extremely modest to say the least. The shocking thing is that incomes have gone down 20% for these workers between 1967 and 2010. Quite the opposite for the 'overpaid' - watch the vid and see for yourself. The only thing I'd argue with is that the suggestion that living standards have gone down. Nope, I don't think so. Manufacturing is so automated and we are so plastics oriented now that products and things we buy are a fraction of the cost they used to be. Maybe they're less robust, but is that a bad thing? Hmm, food for thought eh?
As an aside, UK employment data reveals a continuing pay gap between genders - or rather, between women with family responsibilities and the rest.  

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