BOSTON ( SHNS ) – The Labor force in Massachusetts this year has grown faster than in any state in the nation and employers here have added nearly 300,000 jobs since the start of the Great Recession in 2007, but wage stagnation means the favorable trends have not translated into significantly more income for most workers and families, according to a new report.
Median household income in Massachusetts has grown only half a percentage point each year, after adjusting for inflation, since 1979, but has risen about 4.3 percent a year for the 1 percent of households with the highest incomes, according to the Massachusetts Budget and Policy Center’s Labor Day report.
“This growing inequality is part of what is known as the ‘Great Decoupling’ – the period, beginning in the 1970s, when growth in wages and income for most workers began to flatten even while productivity continued to increase,” the State of Working Massachusetts report said.
The Labor Day report’s observations on wages and income shed additional insight into an apparent disconnect between the state’s tax code and job creation – tax collections are in the midst of a prolonged slump despite a relatively lengthy period of job growth and low unemployment.
And at 9 percent, the state’s rate of job growth since 2007 is sixth highest among states over that time period and has helped make emloyers more productive and grow the economy.
- Trigaux: State of working Florida? Great — if you've got a job worth havingTampabay.com
- The middle-class comeback is realJackson Hole News&Guide
- Jobs in services, computers, health care biggest gainers in Maryland since the ...Baltimore Sun
- In Massachusetts, jobs abound but wages lagThe Boston Globe
- The hopes of America's working peopleNews & Observer
- Jobs aren't the solution to America's problems—they're the causeQuartz
- Editorial: Labor Day NM sees some improvement in economyAlbuquerque Journal
- American workers have much to celebrate this Labor Day, but the job isn't finishedHellenic Shipping News Worldwide
- Recession transformed labor market with more low-wage jobsBeaumont Enterprise