The Current Employment Statistics from the BLS provide a wealth of industry-level employment and earnings data, including nominal and real wages. Using low-, mid-, and high-wage industry tiers developed by Jed Kolko, chief economist at Indeed, the graph below shows year-on-year real wage growth since January 2010. (Technical notes: within each tier, the real wage… Read more »
Posts Categorized: Earnings
The labor share of income (the blue line in the above chart) and prime age labor force participation rate (the red line) have both recently increased after long-term declines (labor share of income since the 1970s, and LFPR since the 1990s). Though it is too early to say if those long-term trends have been reversed,… Read more »
From the above graph it is apparent that real weekly earnings have barely grown since 2012.
Check out this awesome visualization of the Shifting Incomes for American Jobs from Nathan Yau at Flowing Data. Nathan’s interactive chart shows the distributions of incomes for major occupational groups over several decades:
The July jobs report, released by the BLS last Friday, shows that wages (specifically average hourly earnings) are now growing at their fastest rate since the end of the great recession. The number most often cited was 2.6% year-on-year growth rate for both June and July. That figure is based on the seasonally adjusted series… Read more »