![]() ![]() NBER defined recession dates shaded gray. How do these series, in particular, compare with the conventional average hourly earnings for total private industry ex.-nonproduction and supervisory employees (FRED series AHETPI)?įigure 2: Average hourly earnings for total private industry excluding nonproduction and supervisory employees, in 1982-84$/hour (black, left log scale), and median net compensation (green, right log scale), in 1982-84$, per year deflated using CPI all. Source: Social Security Administration, CBO, BLS, and authors calculations. LIght green shading denotes Obama administration. Here are several measures taken from SSA, deflated by the CPI.įigure 1: Average Wage Index (AWI) (blue), average net compensation (brown), and median net compensation (green), all in 1982-84$, per year deflated using CPI all. Reader JohnH criticizes the use of average wages as indicators of the representative compensation, and suggests use of Social Security Administration data. ![]()
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