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Finance & Accounting
Pages 4 (1004 words)
Name: Institution: Course: Instructor: Date: Wage Trend Report: Is American Dream Still Alive or Dead? The question of whether American dream is still alive or dead depends on a number of issues. This paper will look at this issue with focus on wage trend in the past 25 years…
In fact, this wage value was below the peak by 22 percent. The report further showed that in the year 2012, the weekly wage earning recorded a remarkable growth to $294.78. This narrowed the gap from the peak by 14 percent (Kenneth, 2012). Table 1 below summarized the trend. Table 1: Based on Thomas’ report, 39 years had elapsed and yet the real wage was still below the reported peak wage of 1972. In the real sense, by 2011, it was still 14 percent below the peak wage (Thomas, 2012). Despite the dwindling wage levels for workers in the country, the Federal Reserve Bank claimed that the country’s productivity was at a steady increase during this period. Wage Trends The study by Lawrence, Jared and Heidi (2009) showed that wage trends fueled the inequalities in income growth in the United States. In the real sense, wage comprise of three quarter of the family’s total income. However, for the broad middle class group, salaries and wages consist of more than three quarters of the families’ income. It was estimated that between 1973 and the year 2011, real hourly wage attributed to a median worker only reported a 10.7 percent increase. This was mostly witnessed in the late1990s. On the contrary, real wage again registered a stagnated growth between 2002 and 2003. This is why the last decade is referred to as lost decades in terms of wage growth. ...
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