Larger trend shows its declined consistently since the 70s. It will continue to in the long run.

of course. globalization includes the integration of poor people in developing countries into the global economy - in other words: the global supply of labor increases at a quicker pace than the global demand for goods and services. in a globalized world, this necessarily had to and will continue to cause declining real (i.e. inflation-adjusted) wages in the industrialized world.

This post was edited by Black XistenZ on Jul 30 2018 11:29pm

Have to disagree. There are places today with a minimum wage of $15 an hour, which would be more than a skilled salary in the 70's.

Now "average" income may be dropping some. We ofc can blame relatively open borders, for this.

we of course have to look at real wage growth, i.e. adjust for inflation. and with things like $15 minimum wages, we would actually have to look at the local price growth instead of just the national inflation rates.

Adjusted for inflation 10$-12$ an hour was the 1970s minimum wage.

So no, 15 in modern dollars was not more than a skilled salary in the 70s.

This post was edited by Thor123422 on Jul 30 2018 11:34pm

My father was a very well paid Journeyman electrician, in the union no less. He was getting $12 an hour in the late 60's early 70's and proud of that fact. He was above middle class, on that salary.

I was talking minimum wage, which was like $3.00/hr or some shyt.


/e The population of the US keeps going up like no one's business. There are only so many jobs, and if Snipa is right, we're losing them to automation.

This post was edited by Ghot on Jul 30 2018 11:41pm

$15 an hour in the 1970s would easily be like $100 an hour today

This post was edited by majorblood on Jul 30 2018 11:41pm

Yep, yep. See post 21287

2 studies:

David Card's results indicate that the migration shock had no effect on Miami's salary and average employment rate. Those of Jennifer Hunt show that on average the repatriation of the 900,000* French from Algeria had a negative effect, although limited, on the employment and the wages of the metropolitans*. The main conclusion of these studies is that immigration has virtually no effect on the average wage and employment of workers. More recent studies (theoretically based and neutralizing the problems related to immigrants' location choices), conducted in the United States, Great Britain, Germany and France, confirm this. Some of them even show that immigration sometimes has slightly positive effects on the average salary of the natives: the newcomers would rather degrade the conditions of employment of the previous waves of immigration and would allow the natives to reorient themselves towards jobs more remunerative.

*0-1% and 900.000 was gigantic amount (0.9/50)

http://davidcard.berkeley.edu/papers/card-peri-jel-april-6-2016.pdf
https://www.researchgate.net/publication/4902369_The_Impact_of_Immigrants_on_Host_Country_Wages_Employment_and_Growth

Look like you have some kind of agenda.