No one should be surprised that True Wages as a percent of True GDP have been falling precisely because the True Average Income has been falling.
True Average Income has fallen -39.3% since hitting a the Greenspan-Bernanke bubble-fueled peak at the end of 2007. True Average Income has fallen at an annualized rate of almost -8% (-7.98%) a year.
As well, no one should be surprised that True Wages as a percent of True GDP have been falling precisely because Employment Incidence, or the ratio of workers to working-age population has fallen.
Growth in working-age population continues to outpace job growth. This is a direct consequence of excess legal immigration that happened during the Clinton years.
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