REAL WAGES AND PRODUCTIVITY—ARE WORKERS’ PAYCHECKS KEEPING UP?
Over the long run, real wages grow at about the same pace as labor productivity. Go to the Bureau of Labor Statistics Web site, www.bls.gov/lpc, and select Get Detailed Statistics (it is on the top row) and then scroll down to Major Sector Productivity and Costs Index. Select Most Requested Statistics to find current information on percentage changes in output per hour of all persons in the business sector (labor productivity) and percentage changes in real compensation per hour. Has real compensation per hour kept up with output per hour over the latest 3 years shown?