If you're baffled by Trump's rise take a look at the grim realities of American working lifeby David Blanchflower / March 15, 2017 / Leave a comment
Published in April 2017 issue of Prospect Magazine
Working for less—and now less work too:
Pay packets shrank, then they got harder to come by
A big squeeze on American wages has been occurring for a generation: earnings first went into freefall back in the 1970s. Real pay (measured in 1982-84 dollars) sank from a peak of a weekly $345 in February 1973 to $264 in January 1996. Things have bounced back a bit since, but only half way. The chart is for all “production and non-supervisory employees,” which captures roughly 80 per cent of all private-sector staff—so not just the working class but also the great American middle class as was. Until the 1990s, an underlying rise in the number of women earning compensated for the loss. But since the millennium—and especially since the financial crisis—the overall employment rate has dropped.