Table 1
Reconciling Growth in Median Hourly Compensation and Productivity Growth, 1973-2011
1973-79 | 1979-95 | 1995-00 | 2000-11 | 1973-11 | |
---|---|---|---|---|---|
A. Basic trends (Annual growth) | |||||
Median hourly wage | -0.26 | -0.15 | 1.50 | 0.05 | 0.10 |
Median hourly compensation | 0.56 | -0.17 | 1.13 | 0.35 | 0.27 |
Average hourly compensation | 0.59 | 0.55 | 2.10 | 0.95 | 0.87 |
Productivity | 1.08 | 1.29 | 2.33 | 1.88 | 1.56 |
Productivity-Median Compensation gap | 0.52 | 1.46 | 1.21 | 1.53 | 1.30 |
B. Explanatory factors (percentage point contribution) | |||||
Inequality of Compensation | 0.02 | 0.72 | 0.97 | 0.59 | 0.61 |
Shifts in Labor’s share | 0.03 | 0.23 | -0.40 | 0.69 | 0.25 |
Divergence of Consumer and Output prices | 0.46 | 0.51 | 0.64 | 0.24 | 0.44 |
Total | 0.52 | 1.46 | 1.22 | 1.52 | 1.29 |
C. Relative Contribution to Gap (percent of gap) | |||||
Inequality of Compensation | 4.8% | 49.6% | 80.0% | 38.9% | 46.9% |
Shifts in Labor’s share | 5.5% | 15.4% | -32.5% | 45.3% | 19.0% |
Divergence of Consumer and Output prices | 89.7% | 35.0% | 52.5% | 15.8% | 34.0% |
Total | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
Source: Analysis of Mishel and Gee (2012) Table 1
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