Minimum Wage Saw Little Growth Over The Last 50 Years As Productivity Surged

[marmar]

Minimum wage workers haven’t seen their pay go up much in the past 50 years, but that doesn't mean they're less valuable to their employers.

The chart below from the New America Foundation, a non-profit public policy institute, shows that worker productivity has in fact skyrocketed even as the real minimum wage (which is the minimum wage adjusted for inflation) has seen slow growth.



The New America Foundation report adds to the growing body of evidence that workers are getting squeezed while companies profit.

The minimum wage would be $21.72 an hour if it kept pace with increases in worker productivity, according to a March study by the Center for Economic and Policy Research. ...................(more)

The complete piece is at: http://www.huffingtonpost.com/2013/06/10/minimum-wage-productivity_n_3416866.html?ncid=txtlnkushpmg00000037&ir=Politics

[HockeyMom]

1. I made $8/hour in 1974 as a secretary

and able to fully support myself in NYC. Do that NOW????

[msongs]

2. our presidents and congresses are doing their job well on behalf of their corporate masters nt

[lpbk2713]

3. RayGunomics is alive and well.

And the BushCo war on the middle class all but finished the job of killing us off.