American workers are among the best in the world: Compared with people in other countries, American employees work long hours and are hugely productive, according to data from the world’s developed nations compiled by the Organisation for Economic Co-operation and Development.
In constant-dollar terms, Americans are on average paid better than all but one of 34 OECD nations (Luxembourg). Digging deeper into those numbers, however, provides trends distressing both for the American economy and for the workers who build it.
Wage growth in America has been essentially nonexistent, an article of faith in the Great Recession. And the reality is worse.“For […]