4,660
 

Jan 23 - Biggest Pay Raises Went to Black Workers, Young People and Low-Wage Earners



ADVERTISEMENT
 
topics gone triple plat - Number 1 spot 3X PLAT
most viewed right now
+55  121
104 replies  @sports

most viewed right now
  91
26 replies  @wild'ish



section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook

section news
  
 1 week ago '20        #1
2348 page views
21 comments


Contributor13  topics gone triple plat - Number 1 spot x8
avatar
Props total: 11672 11 K  Slaps total: 1300 1 K
Jan 23 - Biggest Pay Raises Went to Black Workers, Young People and Low-Wage Earners
 

 
visit this link https://www.wsj.com/artic .. s-11674425793?

Black workers, young workers and people on the bottom of the income scale were among those who saw the largest pay increases last year, when employers were readily handing out raises in a tight labor market and high inflation environment.
Median weekly earnings for all workers were 7.4% higher, year over year, at the end of 2022, according to an analysis of newly released Labor Department data. That outpaced the consumer inflation rate of 7.1% in the fourth quarter, from a year earlier.
For some workers, the gains were even larger. The median raise for Black Americans employed full time was 11.3%, compared with the prior year. Weekly pay for workers between 16- and 24-years old rose more than 10%. The bottom 10th of wage earners—those that make about $570 a week—saw their pay increase by nearly 10%

The pay increases were welcome relief for those groups who have experienced “decades of pain” in the labor market, said Aaron Sojourner, an economist at the Upjohn Institute for Employment Research. “It’s been a struggle for those folks to find a productive place in the community where they can contribute and earn and build families and success.”
While the labor market remains tight, both wage gains and broader inflation have begun to cool, along with consumer spending. That is the result of the Federal Reserve’s efforts to stifle demand and bring down inflation. Workers’ ability to continue to receive large pay increases this year is likely under pressure. Economists surveyed by The Wall Street Journal forecast job losses in 2023, after recent strong hiring.
Here is a look at which Americans saw the largest, and smallest, raises in 2022.

image

Better pay increases late last year went to workers who attended college, a reversal from earlier in the pandemic when those who hadn’t completed high school saw outsize gains.
The annual rate of wage growth for workers with less than a high school diploma touched a recent peak in the second quarter of 2022, when it was up 11.1% over the prior year, higher than the 7.6% wage growth during that period for workers with a bachelor’s degree or higher.
But by the end of 2022, the median worker without a high school diploma was making $675 a week, or 3.7% more than during the last quarter of 2021. Wage gains for the less educated plummeted as more low-skilled jobs were filled and economic growth cooled.
The median worker with at least a bachelor’s degree, by contrast, saw 5.5% wage growth from a year earlier to $1,547 a week. Those who only finished high school saw a 5.3% annual raise.

image


Wage growth was uneven across racial groups.
The median Black worker’s weekly pay increased at the fastest rate among those measured, growing to $896 from $805 a year earlier. The median Hispanic or Latino worker saw a 4.8% raise to $837 a week. White and Asian workers saw wage growth slightly higher than the overall workforce.
Still, white and Asian workers continued to earn far more than other racial groups. Median weekly earnings for full-time Asian workers was $1,496, and white workers earned $1,111.
By s*x, weekly wages for the median woman rose 5% to $975 in the fourth quarter, from a year earlier. The median man received a 6.6% raise to $1,176 a week. Women had median weekly earnings that were 82.9% of that for men.

It isn’t unusual for young workers to experience faster wage growth in percentage terms, largely because they typically start from the lowest base. A person making $15 an hour who gets a 10% raise is now making $16.50 an hour.
That youngest cohort, earning a median of $716 a week, ended the year with 10.8% annual wage growth, compared with 7.2% for the next-strongest group, aged 25 to 54. The median worker in those prime working years earned $1,134 a week. At the end of 2021, younger workers had 5.2% annual wage growth, and prime-age workers saw a 4.4% gain.
Older workers, those in the 55-64 bracket and those over 65 years old, who often start from higher bases compared with younger cohorts, saw the slowest wage growth last year, at 2.8% and 3.9%, respectively.

The lowest-paid workers saw larger raises last year than the top 10% of wage earners.
Those in the bottom 10% saw weekly pay grow 9.8% from a year earlier at the end of 2022, to $571 a week. The top 10% received a raise of 5.7%, to $2,584 a week.
Gains for low-income and low-skilled workers drove broader wage growth throughout the post-reopening period of the pandemic, as employers who shed workers in 2020 scrambled to hire, and retain, workers. Quit rates soared as workers found that they could jump to another job for higher wages, with the mismatch between job openings and available workers at an all-time high.
Those fast gains have cooled. Hiring in sectors such as leisure and hospitality and retail eased toward the end of last year.

+6   



best
worst
21 comments
 

 1 week ago '23        #2
JetLifeSwag  topics gone triple plat - Number 1 spot x2
Props total: 1793 1 K  Slaps total: 3181 3 K
Great to see.

Hopefully we can see more black men & women in senior positions soon
+12   

 7 days ago '10        #3
Account001 
Props total: 6507 6 K  Slaps total: 1516 1 K
bump

 7 days ago '20        #4
Bighempin  topics gone triple plat - Number 1 spot x2
Props total: 15930 15 K  Slaps total: 2242 2 K
I'm blk and I can't tell..
+10   

 7 days ago '21        #5
Tlatoani  topics gone triple plat - Number 1 spot x1
Props total: 42974 42 K  Slaps total: 11911 11 K
Minuscule raises.

That's why they're using percentages instead of telling you someone is making $1.25 more an hour and sh*t.

With inflation, it's even less.

And it was literally only to draw people back into work.

Don't expect them to continue now that inflation is curbing off and they've successfully raised prices falsely using inflation to justify many of those price increases.
+17   

 7 days ago '04        #6
goldenchild7317 
Props total: 4162 4 K  Slaps total: 551 551
 Tlatoani said
Minuscule raises.

That's why they're using percentages instead of telling you someone is making $1.25 more an hour and sh*t.

With inflation, it's even less.

And it was literally only to draw people back into work.

Don't expect them to continue now that inflation is curbing off and they've successfully raised prices falsely using inflation to justify many of those price increases.
Thank You. You did not get a raise you got a cost of living adjustment. People really do not understand economics....smh
+10   

 6 days ago '05        #7
Philly B 
Props total: 1400 1 K  Slaps total: 229 229
What’s sad is like $20-$25 an hour ain’t sh*t anymore
+14   

 6 days ago '22        #8
Booda Sack  topics gone triple plat - Number 1 spot x10
Props total: 26417 26 K  Slaps total: 16970 16 K
This is mainly due to inflation, the minimum wage was not livable as is but now where everything has gotten 20% higher the last 2 years people wouldn’t even work for that pay which is still a problem that exists now.
+2   

Top 10 most slapped recently  6 days ago '22        #9
HERMES  topics gone triple plat - Number 1 spot x9
Props total: 11847 11 K  Slaps total: 2832 2 K

+11   

 6 days ago '12        #10
Pimpointment 
Props total: 4783 4 K  Slaps total: 495 495
They gotta get taxes from somewhere these big company owners and coughing up anything
-1   

 6 days ago '05        #11
projectd06 
Props total: 44404 44 K  Slaps total: 9873 9 K
I don't believe you
+2   

 6 days ago '05        #12
projectd06 
Props total: 44404 44 K  Slaps total: 9873 9 K
 Philly B said
What’s sad is like $20-$25 an hour ain’t sh*t anymore
sh*t in the mid west it is
+2   

 6 days ago '07        #13
joshdogg26  topics gone triple plat - Number 1 spot x1
Props total: 29439 29 K  Slaps total: 3486 3 K
thus the need for jay powell to continue intentionally tanking the economy. the beatings will continue until morale improves.

 6 days ago '16        #14
jetlife510 
Props total: 4192 4 K  Slaps total: 1586 1 K
 Philly B said
What’s sad is like $20-$25 an hour ain’t sh*t anymore
You ain’t lying. I make $27 per hour in California and it’s not that much
+5   

 6 days ago '17        #15
PackerTrelli3  topics gone triple plat - Number 1 spot x21
Props total: 148555 148 K  Slaps total: 44890 44 K
And what was the money spent on?

Any savings? Or straight to buying Js, the biggest chains and bags and trickin off?
-10   

 6 days ago '05        #16
Philly B 
Props total: 1400 1 K  Slaps total: 229 229
 projectd06 said
sh*t in the mid west it is
Word not in CT haha
+1   

 6 days ago '05        #17
projectd06 
Props total: 44404 44 K  Slaps total: 9873 9 K
 Philly B said
Word not in CT haha
sh*t I was living on my own making 20k per year, man I was living the live at 40k lol.
+1   

 6 days ago '20        #18
Bighempin  topics gone triple plat - Number 1 spot x2
Props total: 15930 15 K  Slaps total: 2242 2 K
 jetlife510 said
You ain’t lying. I make $27 per hour in California and it’s not that much
I make 28 in Indiana and it ain't enough I can only imagine living in Cali
+4   

 6 days ago '22        #19
Booda Sack  topics gone triple plat - Number 1 spot x10
Props total: 26417 26 K  Slaps total: 16970 16 K
 Bighempin said
I make 28 in Indiana and it ain't enough I can only imagine living in Cali
I make $30 in Louisiana and I still feel broke, I don’t see how people survive now.
+1   

 6 days ago '21        #20
Tlatoani  topics gone triple plat - Number 1 spot x1
Props total: 42974 42 K  Slaps total: 11911 11 K
 projectd06 said
sh*t in the mid west it is
 Bighempin said
I make 28 in Indiana and it ain't enough I can only imagine living in Cali
Kansas City, MO is getting expensive too.

A lot of new money moved here and drove housing up.
+2   

 6 days ago '16        #21
jetlife510 
Props total: 4192 4 K  Slaps total: 1586 1 K
 Bighempin said
I make 28 in Indiana and it ain't enough I can only imagine living in Cali
Indiana B? You would think it would go further living out that way

 6 days ago '20        #22
Bighempin  topics gone triple plat - Number 1 spot x2
Props total: 15930 15 K  Slaps total: 2242 2 K
 jetlife510 said
Indiana B? You would think it would go further living out that way
Chid insurance, taxes, 401k bruh my check ate up
+2   



Sign me up
 
 

yesterday...


most viewed right now
+109online now  38
Video inside Biblical Nephilim Giant Skeletal Remains found in Nevada, USA
184 comments
23 hours ago
@wild'ish
most viewed right now
+19online now  18
Image(s) inside James Gunn Reveals REBOOTED DC Slate! (01/31)
184 comments
24 hours ago
@movies
most viewed right now
online now  16
Jan 30 - Alabama Dope boy Rolando Williams labeled a Kingpin by FBI
97 comments
1 day ago
@news
most viewed right now
online now  15
Image(s) inside Drake NOCTA x Nike Swim Fin Slides
30 comments
1 day ago
@gear
back to top
register register Follow BX @ Twitter search BX privacyprivacy