BUSINESS

Americans' Average Hourly Wages Entirely Unchanged Over Last Year: BLS

12/14/2012 04:09 pm ET | Updated Dec 14, 2012

Well here’s a depressing fact: Americans earning hourly wages didn’t see their average pay go up at all over the last year. Not even a little bit.

Real average hourly earnings and real average weekly earnings were unchanged at 0.0 percent over the past year, adjusting for inflation, according to the Department of Labor. The data point is part of a troubling trend: American workers have been getting squeezed for decades. In some sectors, the problem is more extreme than in others. Minimum wage for restaurant workers has remained stagnant for 20 years thanks to lobbying.

At the same time, CEO pay has skyrocketed, increasing more than 725 percent from 1978 to 2011, according to the Economic Policy Institute.

Suggest a correction
1,065 Comments

CONVERSATIONS