Click to enlarge.
I've included recession bars and 3 linear trend lines.
That good ship and crew was a bone to be chewed
When the gales of November came early.
Source Data:
St. Louis Fed: Wage and Salary Disbursements
St. Louis Fed: Population
St. Louis Fed: CPI
NBER: Business Cycles
Scary bonus thought of the day.
ReplyDeleteIn the 1970s we flooded employers with workers (women entered the workforce). That kept a lid on our real wages. At least they were OUR workers though.
In the 2000s we flooded employers with Chinese workers. That also kept a lid on our real wages. Sigh.
Good point, and as women entered the work force, child care and higher ed costs ate up all the income gains. Sigh again.
ReplyDeleteGSYC,
ReplyDeleteSigh, sigh, sigh, sigh
Speedy Gonzales - Cielito Lindo
Ay, ay, ay, ay
Canta y no llores (Sing and don't cry)
$22,000 per capita wages.
ReplyDelete$20,000 per capita gov't spendng.
gah.
Troy,
ReplyDeleteGah!
Seriously, there is $5.3T/yr of gov't spending at all levels, not counting SSA checks.
ReplyDeleteDivided by $100,000, that should be 50M+ gov't jobs, 40% of all jobs.
But it's not. If I could have one question answered, it would be where all this money is really going.
Troy,
ReplyDeleteYeah, I know you were being serious. Sigh.
Well, we could try cutting the government spending for a few months to see how much of our economic system breaks.
(I'm guessing all of it.)