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CrashedOutAndBurned

Growth Increases, Us Average Joe Gets Poorer

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I think the dot.com era gave a brief halt to the fast-track McDonaldisation of the US labour market but with that out of the way the decline in living standards is continuing at pace even as 'growth' increases.

"The unprecedented split between growth and living standards is the defining economic agenda of the day," says the EPI's senior economist, Jared Bernstein.

During the five years from 2000 to 2005, the US economy grew in size from $9.8 trillion to $11.2 trillion, an increase in real terms of 14%.

Productivity - the measure of the output of the economy per worker employed - grew even more strongly, by 16.6%.

But over the same period, the median family's income slid by 2.9%, in contrast to the 11.3% gain registered in the second half of the 1990s.

The wages of households of African or Hispanic origin fell even faster.

And new entrants to the labour market fared particularly badly.

http://news.bbc.co.uk/1/hi/business/5303590.stm

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I think the dot.com era gave a brief halt to the fast-track McDonaldisation of the US labour market but with that out of the way the decline in living standards is continuing at pace even as 'growth' increases.

But over the same period, the median family's income slid by 2.9%, in contrast to the 11.3% gain registered in the second half of the 1990s.

The wages of households of African or Hispanic origin fell even faster.

And new entrants to the labour market fared particularly badly.

http://news.bbc.co.uk/1/hi/business/5303590.stm

that's right auntie,blame the yanks!!!......hasn't been happening here at all has it,because we live in laa-laa land!!!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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