Friday, March 4, 2011

Full-Time Workers: We're $100 Billion Dollars Poorer.

Chart I did using BLS data combining total full time wage and salary workers * average weekly earnings.  CPI adjusted to 1982-1984 chained dollars.  From the 2007 peak, the total basket of people in full-time jobs are making exactly $100 billion dollars less, in real terms, than in 2007.  They are making $20 billion less than last year.

May help explain in part why we're having budget issues.  Less income = less income tax and less income available for expenditures = less sales tax.