Later On

A blog written for those whose interests more or less match mine.

Workers Have Finally Caught Up to 1974

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Kevin Drum has a good post. From the post:

. . . This is what makes the whole “economic anxiety” interpretation of the 2016 election so peculiar. In 1992, workers had been getting stiffed for over a decade, and winning a campaign by appealing to this hardship made sense.

But in 2016? Wages have bounced around a bit, but basically workers have been making steady gains for over two decades. In particular, between 2012 and 2016 wages rose a healthy 1.35 percent per year—one of the country’s best 4-year periods since the late 60s—and the unemployment rate dropped more than three points. It’s easy to argue—and I do!—that worker gains should have been even higher, but it’s hard to argue that ordinary workers have been in such dire straits that they were willing to vote for anyone who promised to look out for them.

At the same time,  . . .

Read the whole thing.

Written by Leisureguy

24 September 2017 at 3:33 pm

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