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The Great Compression refers to the period of substantial wage compression in the United States that began in the early 1940s. During that time, economic inequality as shown by wealth distribution and income distribution between the rich and poor became much smaller than it had been in preceding time periods.
Real wages (adjusting for inflation) rose steadily, with the exact percentage increase depending on the dates and the specific work force. The Census Bureau reported in 1892, that the average annual wage per industrial worker (including men, women, and children) rose from $380 in 1880 to $564 in 1890, a gain of 48%. [2]
The GNP growth 1921-29 was a very strong 6.0 percent, double the long-term average of about 3 percent. [83] Real annual earnings (in 1914 dollars) for all employees (deducting for unemployment) was $566 in 1921 and $793 in 1929, a real gain of 40 percent. [84]
On average, she had two and a half years of teaching experience and planned to continue for another two or three years until she married. She had 22 students enrolled, but on average day only 15 were in attendance. She taught 152 days a year, and was paid $874. [110] The students were not divided into grades 1 to 8, but grouped loosely by age.
Since its inception in late 1982, this CPI measure (known as the CPI-E) has grown at a compound annual rate of 2.99%, while Social Security's monthly payments have increased by an average of 3.69% ...
Trade deficits lead to significant wage losses, not only for workers in the manufacturing sector, but also for all workers throughout the economy who do not have a university degree. For example, in 2011, 100 million full-time, full-year workers without a university degree suffered an average loss of $1,800 (~$2,438 in 2023) on their annual salary.
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This would roughly put the national average salary at about $56,420. National Average US Salary: Key Points Approximately 35% of U.S. households make over $100,000 per year, as reported by IBISWorld.