USA’s working poor are getting poorer

The Economic Populist has published an interesting overview of wages statistic in USA. It turns out that nearly a third of people working are extremely poor. These are not jobless but people who actually have jobs. Still, one third of working people receive wages before taxes below $15,000 a year and nearly 15% of workers – below $5,000 a year. Most Americans, 52.4%, make less than $30,000 a year yet those very Americans only have 15.3% of the total country income from wages.

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The chasm between the rich and poor is growing yearly. An astronomical 23.1 million wage earners made less than $5,000 per year in 2013. Those making less than $5000 a year are only getting 0.7% of the total compensation pie as a group. The top wage bracket – over $50 million – has 110 people in it or 0.000064% of wage earners. This top wage bracket received 0,18% of the total net compensation. And this inequality of wages keeps increasing.

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The Economic Populist concludes that “The bottom line here is the rich are getting richer and most of America continues to get squeezed even though in 2013 wages improved.  As a trend we can see since 1990 just a never ending attack on regular wage earners in this country. The bounce back in 2013 isn’t enough to make up for 30 years of a spiral down.”

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