Swimming with the Razorfishes

Monday, September 06, 2004

'From 2000 through 2003 the median household income fell by $1,500 (in 2003 dollars) - a significant 3.4 percent decrease. That information becomes startling when you consider that during the same period there was a strong 12 percent increase in productivity among U.S. workers. Economists will tell you that productivity increases go hand-in-hand with increases in the standard of living. But not this time. Here we have a 3.4 percent loss in real income juxtaposed with a big jump in productivity."

The Economic Policy Institute, via The New York Times

"The United States has been tracking employment statistics since 1939, and never in history has it taken this long to regain the jobs lost over a downturn."

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