If Wages Had Kept Up With GDP, This Is What The Median Salary Would Be In The US Unlisted Video
3 years ago
11
Viral
Income In The United States
Distribution Of Wealth
Wages And Salaries
Income Distribution
Economic Inequality
economic growth
earnings
salary
GDP
gross domestic product
Wages in the US have not kept up with the pace of growth in the gross domestic product, or GDP, as they used to in the 1950s and 1960s.
In fact, a new report finds that the median salary would have been as high as $102,000 for a full-time employee if wages increased at the same pace as GDP.
According to Business Insider, the median income right now is half that, at $50,000.
The average wage of 44% of workers before the pandemic was as low as $18,000.
And as wage growth stalled for 90% of workers, the average incomes of the top one percent increased at a whopping 300% of the rate of economic growth.
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