"According to the Department of Labor, average gross weekly earnings for private nonagricultural workers rose from $267.26 a week in 1982 to $536.17 a week in February 2005--doubling in 23 years." One would presume that this is great--earnings have doubled. We can enjoy the American dream. But. . ."the same figure, adjusted for the consumer price index for urban wage earners and clerical workers, toherwise known as CPI-W rises from $267.26 to $276.95 That's a purchasing power gain of $9.69 over two decades. . . .the average worker has been going nowhere." [Scott Burns, Dallas Morning News financial columnist]
As Burns points out noone is average, but for many Americans, neither Democratic or Republican administrations seem to have done much for the average worker. I keep wondering how families make it and will continue to make it, because I am not sure there will be a change in these figures. I know there are installment plans, two income families, etc., but any person who is investing his life in just making money, his or her status has not significantly improved and what do they have to show for it?--an extra $9.69.
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