EPI: Flat Wages Key Obstacle to Shared Prosperity

August 22, 2013

new report from the Economic Policy Institute (EPI) shows that wages for the vast majority of America's working families have stagnated or declined over the past decade and that raising wages is the key challenge facing the country in terms of growing the economy and recovering from the Great Recession. In A Decade of Flat Wages: The Key Barrier to Shared Prosperity and a Rising Middle Class, authors Lawrence Mishel and Heidi Shierholz note that while productivity and corporate profits are on the rise, that prosperity is not being shared with workers. They also point out that the only notable growth in wages is concentrated on corporate executives and in the finance sector, meaning the bulk of wage growth has gone to the upper 1% of the workforce. 

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