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Thursday, February 7, 2019

Where has the income in the last decade changed?


Salaries have remained stable in the United States for decades. According to the Bureau of Labor Statistics, the average hourly income of the average American in 2018 dollars increased by only two dollars between August 2008 and August 2018. At the same time, unemployment fell from 6.1 to 3.7 percent, respectively, which It indicates that the strong labor market has not exerted significant pressure on wages. In short, despite a strong economy, labor wages go far beyond rising costs. Different types of macroeconomic factors are responsible for depressed increases. For example, the federal minimum wage has not followed inflation, for decades, real time is gradually decreasing in real value. The trend towards automation also means that skilled workers are often replaced by machines, the value of their work is depressing. In addition, the benefits of increasing productivity since the recession can have a depressive effect on workers' income. The explanations are innumerable, but the fact is that the average American has not received significant benefits in salaries for years. Despite the slow growth at the national level, some cities in the United States have experienced significant growth as a result of local economic success. Researchers at the Life Life Insurance Agency online Heaven Life analyzed data from the American Community Survey to identify those cities, where the largest increase in wages, along with the most influential industries in those cities. This is what the analysis has shown: Takeaways Tech dominates both technology centers in the list of cities with the highest salary growth between 2007 and 2017. When it comes to wages, the industry counts. For 2017, the average income of full-time workers in professional, scientific and technical services was more than $ 76,000 per year. In comparison, the average annual income of people working in housing and food services was $ 26,705. The national average of full-time and one-year-old workers was $ 47,016 per year. Full-time workers in mining, quarrying, and oil and gas extraction experienced the largest wage increase in 6.5 percent inflation-adjusted growth in the last 10 years. By comparison, transportation and storage employees have seen a decline of more than 10 percent at the same time in their actual earnings.

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