Quote:
Annual changes, constant dollars, not seasonally adjusted
These estimates, in "constant dollars," showed annual compensation costs for civilian workers were -0.3 percent for the year ended December 2005, compared with a 0.5 percent over-the-year change for December 2004.
These inflation-adjusted ECI series were derived using the Consumer Price Index for All Urban Consumers (CPI-U), U.S. City
Average All Items. (See table D and the Explanatory Note for details.)
Table D. 12-month percent changes in Employment Cost Index, constant dollars,
not seasonally adjusted
......................................Dec.**Dec.**Dec.** Dec.** Dec.** Dec.
Compensation Component....2000**2001**2002** 2003** 2004**2005
Civilian workers
Compensation costs............0.7****2.5***1.0***1.9*** 0.5***-0.3
Wages and salaries............0.4****2.1***0.5***1.0*** -0.8***-0.8
Benefit costs....................1.5****3.6***2.5***4.4****3.5***1.1
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http://www.bls.gov/news.release/eci.nr0.htm
Real wage growth has been weak. However...
From Job Loss and Trade.
http://www.freetrade.org/pubs/briefs/tbp-019.pdf
Quote:
...the total number of jobs in the U.S. economy is first and foremost
a function of the size of the labor force. As the population grows, the number of people in the work force grows; as the labor supply increases, market forces absorb that supply and deploy labor among different sectors of the economy.
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Unemployement is currently 4.7% ten years ago it was 5.7%
Jan. 1990 there were 108,946,000,000 jobs, 18,038,000 were gov. jobs.
Jan. 2000 there were 130,387,000,000 jobs, 20,351,000 were gov. jobs.
Jan. 2006 there were 150,126,000,000 jobs, 21,775,000 were gov. jobs.
Private sector percentage rate of growth is materially higher than that of gov. But, I agree with your point that the gov. is too big a part of our economy.
http://online.wsj.com/documents/bbemp.pdf
http://www.bizstats.com/employment.htm
Personal income in 2000 was $8,260,842 (in millions) in 2005 it was $10,260,723. Personal income includes income from all more inclusive than wages. That is a 24% increase in 5 years. This still excludes unrealized capital gains. For example the secretaries at Microsoft, Cisco, or Dell, etc, who got stock options rather than salary increases and who are now millionairs, that growth in wealth is not reflected in your statistics or mine.
http://www.bea.gov/bea/regional/sqpi/action.cfm
"Lost a planet, Obi Wan has", Yoda