Latest earnings data from the Social Security Administration show that the very top continues to pull away and amass a larger share of the #earnings pie while the bottom 90% continues to fall further behind. Between 1979 and 2021 #wages for the top 1% and top 0.1% skyrocketed while wages for the bottom 90% grew slowly. The top 1% doubled their share of total earnings while the bottom 90% now receives their lowest share of the earnings pie on record.
#inequality #economics
https://www.epi.org/publication/inequality-2021-ssa-data/
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Elise Gould
@eliselgould@econtwitter.net
Senior economist @epi@econtwitter.net. Studying wages, jobs, and inequality, occasional work on poverty, child care, health care, and economic mobility. Striving to be part of the solution.
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Overall, today's jobs report is strong, capping off an incredible year of job growth. The US labor market added 4.5 million jobs in 2022! After 2021, this is one of the best we've seen in decades.
Taken together, the last two years of payroll employment growth have been pretty amazing. The two years of job growth following Biden's historic relief and recovery measures were the best in nearly 40 years.
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