Real Wages Much Lower Than They Were Four Decades Ago
Wages need to rise to keep up with inflation, especially since the value of the dollar has been trashed:
In addition – when those who have only part-time work are taken into account – we have depression-level unemployment.
As Klein notes:
When you take all men, not just those working fulltime, into account, the slight decline in the above graph becomes a plummet of 28 percent in median real wages from 1969 to 2009.