Chart shows possibility of entire future generations being poor

It seems like CBS 6 frequently posts economic article that either indicates that a large part of the nation is in debt or that there is massive inequity between worker and top brass

In fact, in the past 24 hours we have posted that millenials feel as they though are drowning in debt, and that CEOs earn nearly 300 times what workers do. Although there is a constant ideological battle being waged over whether or not to increase the minimum wage, most of it seems to just blow about, without change and without massive public outrage.

Here is chart that displays the pay gap.

Just as shocking as the increase in younger workers making less wages is how bad the gender gap in wages was in 1979. Still shocking is that in 34 years, the pay gap hasn’t leveled out. Women in the peak of their career, or middle-aged,  are still way more likely than men the same age to earn poverty-level wages, according to this data.

The amount of men entering the workforce at poverty-level wages has increased 16-percentage-points.  The amount of women at age 35-44 earning poverty-level wages has grown 13-percentage points. What will reign this data in for the future generations?

This chart is by Economic Policy Institute, where you'll find all of the facts behind it. Thumbnail image via Thinkstock.

This chart is by Economic Policy Institute, where you’ll find all of the facts behind it. Thumbnail image via Thinkstock.

This chart is by Economic Policy Institute, where you’ll find all of the facts behind it. Thumbnail image via Thinkstock.

Here is a video that shows how much faster CEO pay has grown, relative to that of other high earners.

Already four in 10 millennials say they are “overwhelmed” by their debt — nearly double the number of baby boomers who feel that way, according to a Wells Fargo survey of more than 1,600 millennials between 22 and 33 years old, and 1,500 baby boomers between 49 and 59 years old.

To try to get out from underneath it, 47% said they spend at least half of their monthly paychecks on paying off their debts.

Meanwhile,  CEO pay rose 21.7% since 2010, while workers’ earnings fell 1.1%.

“CEOs have done a lot better in this recovery than have workers,” said Lawrence Mishel, EPI’s president.

Soaring CEO pay is one reason behind the rise in income inequality in recent decades, Mishel said.

Average CEO compensation came in at $15.2 million in 2013, according to the left-leaning think tank. That includes salary, bonus, restricted stock grants, options exercised and long-term incentive payouts for chiefs at the top 350 U.S. firms by sales.

Private-sector, non-supervisory workers, meanwhile, earned an average of $52,100.

Read more on the Economic Policy Institute’s website. 

 

3 comments

  • Poverty-Level Wage Earner

    If I could do it over again, I would not have gone to college. I wasted a lot of time and money…my money and my family’s money…pursuing a degree without graduating. I never took on student loans, but I could have saved us many thousands of dollars and spent time pursuing a career without a college degree. I have worked in retail now for nearly two decades, and if I could do that over again, I would have applied myself and pursued management opportunities. I do not think I would be wealthy, but I would be earning more money than I am now, and I would have had substantially more savings.

  • george myers

    The chart is intriguing. If it has been posted accurately — and I’m not sure as you do not know the difference between rein and reign — then it is clear that women are doing far better in the workforce than they were before. While about the same percentage of women are starting at poverty-level wages as did in 1979, 1 in 3, by the time they have 10 or more years of experience, the number of women in poverty level jobs has declined to 1 in four. It is still not as good as men. Only one in 7 are left in poverty-level wages by the time they have become experienced.
    It is worrisome that since 1979 that the number of men in poverty-level wages during a male’s prime family development years has doubled. But it is clear that women have begun to compete for better paying positions based on that chart. Note that women in poverty level jobs dropped 13 percent since 1979 for those near or at menopause.
    This is a dramatic change in the past 25 years. Given women are doing better than men in studies in high school and now exceed the number of men attending and graduating from college, it will be more than interesting to see this chart after 25 more years. Instead of poverty, it seems to indicate a long term positive trend for women’s success in the workforce.
    (The reign-rein difference is substantial and it grates when people use the wrong one.)

  • manalishi

    This chart will get increasingly worse as well as wages getting consumed by inflation and taxes so long as drooling tards vote democrat.

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