Does America Still Work?

GOOD NEWS

(From the Clinton Administration, two business groups, and the following graph showing data from the Bureau of Labor Statistics--shaded area denotes recession)


graph

Source: Bureau of Labor Statistics


"By Our Own Bootstraps: Economic Opportunity & the Dynamics of Income Distribution"

This 1995 annual report of the Federal Reserve Bank of Dallas offers data and analysis showing how wage decline has been offset by upward mobility.


"It's Not a Wage Gap, but an Age Gap"

Michael Cox, Vice President of the Federal Reserve Bank of Dallas, summarizes the above report and its data showing how individuals significantly improve their earnings over time.


"Job Creation and Employment Opportunities: The U.S. Labor Market, 1993-1996"

A White Paper by the President's Council of Economic Advisers

Summary: This jobs report issued April, 1996 said that the 8.5 million jobs created since January, 1993 were predominately in the better paying and higher-skilled categories. The report suggested layoffs had declined since 1993 and that steady improvement in the economy was leading to better jobs.

Examining net job growth of about 4 million between February, 1994 and February, 1995, the report concluded that more than two-thirds of the growth was in full-time employment at over $480 a week --in other words paying better than the nation's median wage which is $480.


"Improving the Economic Condition of the American Worker"

A White Paper by National Association of Manufacturers.
"...much of what is said on these issues is
inflammatory, demagogic and wrong"

Summary: This April, 1996 report rebuts the notion that workers are suffering under the weight of wage stagnation and job loss. The report concludes that worker anxiety is real, but misplaced. It suggests that many of the factors giving rise to worker angst are self-correcting or within the power of government, the private sector, and workers themselves to fix.

The report notes, for example, that a key focus should be total compensation for workers -- which would include commissions, bonuses, benefits and employer contributions to Social Security. This would add up to over a 20% increase during the last twenty-five years.


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