Joint Economic Committee

Ranking Member-Designate

Senator Martin Heinrich (D-NM)

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~ Long-term trends often mean less economic security ~

WASHINGTON Joint Economic Committee Ranking Member Carolyn Maloney (D-NY) today announced the release of Portrait of a Changing Economy,  a new series of 12 charts that show how decades-long trends in the U.S. economy have led to less retirement security, an increase in income inequality and stagnant wages for many American workers.

While there has been significant economic progress under President Obama, including a rise in hourly wages, unemployment cut in half since 2010 and increased earnings power for both college and high school graduates in recent years, a number of long-term economic factors continue to put pressure on many Americans.

“Today, many hardworking Americans are facing much greater economic insecurity and pressures than the previous generation,” Rep. Maloney said. “Hourly wages are no higher than they were 40 years ago, pensions are disappearing and college costs are rising.  Our job as policymakers is to focus like a laser on addressing the overarching challenge of economic instability facing American families.”

The charts in the packet are:

  • Average Hourly Earnings are No Higher than 40 Years Ago
  • The Share of Families with Two Earners Rose Dramatically
  • Women Surged into the Labor Force; Men Gradually Withdrew
  • Earnings Power Increased for College Graduates, Decreased for High School Graduates
  • The Percentage of Young Adults Pursuing Higher Education More than Doubled
  • The Price of a College Education Soared
  • Workers Face a Less Secure Retirement
  • The Value of the Minimum Wage Dropped Precipitously
  • The Typical Worker Did Not Share in Productivity Gains
  • Gap Between Top Earners and Most Americans Grew
  • CEO Pay Skyrocketed
  • Share of Wealth Held by Top 1 Percent Took Off, Share Held by Bottom 90 Percent Plummeted


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