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June 13, 2005
What's happening to labor earnings?
Kash at Angry Bear has a pretty comprehensive post about what's been happening to labor earnings.
All of his measures, however, show that real labor earnings--no matter how you measure them--are up over 1995, when the productivity surge started.
That's important, because the real question is not whether there are short run fluctations in wage and profit growth--there always are--but whether gains from productivity are being passed onto workers over the long run.
Real wages are up over the past ten years, even when they broken down by occupation and industry. Even the less skilled occupations and industries have seen a gain in real wages over the past ten years (these figures are based on the real employment cost index for wages and salaries):
And here is a similar table by industries:
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