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Created with Fabric.js 1.4.5 Wage Stagnation and Income Inequality1940s and 2015 by Darren Danaie 1940s 2015 - Increasing steadily since 1933 - Minimum wage: $0.40 ( $0.65 was considered) - Leading trade unions say higher wages after war are the best means of securing employment - Years after war marked by unusually high wages, the war had interuppted this increase in wages - Increase in labor unions - Explicit restricions during WWII - Changes in labor income taxes - 1938-1940: mass unemployment - Sharp contraction in income inequality: largest and fastest during twentieth century - Labor income of top earners fell significantly compared to rest of workforce - Factors above also contribute to a restraint on executive pay even through the 1950s Texas, USA - Current and Federal minimum wage: $7.25 - Hourly wages stagnated or fell for all workers across wage spectrum - An increase in wages is needed to address middle class stagnation, rising income inequality, and poverty in families - Great income inequality between different levels of education (left) - Wage gaps between the higher and lower classes continue to grow over the past three decades - Colored workers continue to have far lower wages than those of the white race Causes of Increase Nature of Wages Income Inequality Income Inequality Nature of Wages Causes of Stagnation - A reduction in workers' ability to bargain for higher wages - The deteriorating state of labor market standards and protections for low-wage workers The 1940s were characterized by a sharp decline in income inequality as well as a great increase in pay. In 2015, however, income inequality has increased and wages have stagnanted for the past decade. Conclusion
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