U.S. median wage drops to $26k

New report shows more workers falling behind average wage level

WASHINGTON — Fifty percent of U.S. workers earned less than $26,364 last year, reflecting a growing income gap between the nation’s rich and poor, the government reported Thursday.

There were fewer jobs, and overall pay was trending down — except for the nation’s wealthiest. The number of people making $1 million or more soared by over 18 percent from 2009, the Social Security Administration said, citing payroll data based on W-2 forms submitted by employers to the Internal Revenue Service.

Despite population growth, the number of Americans with jobs fell again last year, with total employment of just under 150.4 million — down from 150.9 million in 2009 and 155.4 million in 2008. In all, there were 5.2 million fewer jobs than in 2007, when the deep recession began, according to the IRS data.

The figures are just one more indication of the toll that the worst downturn since the Great Depression has taken on the U.S. economy. They were published as demonstrations rage on Wall Street and in cities across the nation protesting a widening income gulf between average wage earners and the nation’s wealthiest.

The unemployment rate remains stuck at 9.1 percent, with more than 14 million out of work and 11 million other discouraged people who have stopped looking for work or are stuck in part-time jobs. Since 1980, roughly 5 percent of annual national income has shifted from the middle calls to the nation’s richest households, according to the Census Bureau.

While the average U.S income last year was $39,959, the mean income — the figure where half earn more and half earn less — was much lower, $26,364. This disparity reflects the fact that “the distribution of workers by wage level is highly skewed,” according to Social Security.

Median compensation last year was just 66 percent of the average income, compared with nearly 72 percent in 1980.

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Source: http://www.washingtonpost.com/busine...Y1L_story.html

Yay =/

[B]While the average U.S income last year was $39,959, the mean income — the figure where half earn more and half earn less — was much lower, $26,364.

Typo? I always thought average and mean were the same thing.

I always thought average and mean were the same thing.

They are.
I'm gonna assume it was an error, or this message was meant for the unintelligent.

Just an ignorant journalist. They meant the median.

Either way.
It seems like even a Messiah couldn't help America at this point. Soon as I can, it's "Hello England"!

lol if you think England is any better off than our country you are delusional. They are even worse.

lol if you think England is any better off than our country you are delusional. They are even worse.

QFMFT

It's just a sign that the economy is only going to dip down more and more. All we can do is brace ourselves and either try to initiate change or let ourselves go broke. I'm voting for change.

lol if you think England is any better off than our country you are delusional. They are even worse.

Then where do you suggest I go?

How about Mexico?

Naw.
I'm thinking Brazil, since they have that giant Jesus statue, Christ the Redeemer.
Or Italy. Because pasta.
Or France, because Joan.


Jesus, pasta, Joan.
Yeah, I guess I just put pasta in the "holy" category...

Yay highest unemployment level for nearly twenty years!

Italy's broke and needs bailouts, France is...well...it's France. Japan is xenophobic and tends to make fun of Otakus such as yourself.

When did I say I was going to Japan?

And what's wrong with France!?

I'll admit I misread your post. Just look up France and riots and protests on the news and get back to me.

France is full of French.

I'll admit I misread your post. Just look up France and riots and protests on the news and get back to me.

So it's cool there?

They talk about these "job creators", and how great it is that the wealthy have allll of this capital to invest to create jobs for us. We need money in the hands of those with a higher marginal propensity to consume, not invest. There's as many customers any more because they're getting raped by the overlords.

Sounded great in theory, but in practice it has turned out terrible. Like racism. Racist jokes are funny, racism is not.