Submitted by Taps Coogan on the 19th of April 2019 to The Sounding Line.
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According to the U.S. Bureau of Labor Statistics, inflation adjusted average wages for production and non-supervisory workers for March came in at $23.24 per hour. That is down ever so slightly from February (-0.2%), which was an all-time high.
Unfortunately however, $23.24 per hour is exactly how much the average worker would have made in February 1973 (in inflation adjusted terms). In other words, only in the last few months have US hourly production wages returned to the levels they set 46 years ago. Meanwhile, inflation adjusted GDP has grown over 232%, inflation adjusted GDP per capita has grown 113%, and the S&P 500, adjusted for inflation, has grown 299%.
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