Here’s a graph at which we should all take a close look. It’s just a few data points bouncing around a chart, but it explains a lot, I think, about why so many people are unsettled by developments in the current economy.
The data are the inflation-adjusted, average weekly earnings of a representative group of workers—those who are non-managers in the service sector and blue-collar workers in manufacturing. So we’re talking about the bottom 80% of workforce.
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