In only 10 of the last 40 years did most workers see any consistent positive wage growth: in the tight labor market of the late 1990s and in the last five years (2014–2019), when the unemployment rate hit its lowest point in 50 years. labor market for the last four decades, despite steady (if too slow) productivity growth. Rising wage inequality and slow and uneven hourly wage growth for the vast majority of workers have been defining features of the U.S. College graduates are losing ground: Wages for the bottom 50% of college graduates are lower today than they were in 2000.Gender gaps defy educational attainment: Women with an advanced degree are paid, on average, less than men with a college degree.Even so, black–white wage gaps are significantly wider now than in 2000. Black–white wage gaps persist: In 2019, black wages exceeded their 20 levels across the wage distribution for the first time in this recovery.Policy matters: Wage growth at the bottom was strongest in states with minimum wage increases in 2019.Inequality continues: The highest earners (95th percentile) continue to pull away from middle- and low-wage workers.Slow wage growth persists: Consistent positive wage growth has occurred in only 10 of the last 40 years.
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