We here at SDP (otherwise known as the neo-regressive propaganda machine) have been celebrating the extraorinarily good economic news of late. Our critics on the honorable opposition keep trying to find a cloud around the silver lining, but that is a challenge they have not yet risen to. When I noted the growth in business investment, our friends at CCK complained that real wages are falling. I replied that, in fact, they are now rising and are higher than ever before. When I pointed out the unprecedented growth in productivity, a blog that prefers to remain anonymous complained about the number of jobs being replaced by low paying service jobs. Well, here is a chart from the Treasury Department.
Of the roughly four million jobs described above, a million more pay above average compesation than below average. This looks like an almost ideal job record. Enough starter jobs are created to absorb young and unskilled workers, but most of the jobs are well paying. There, now we have told you about that part of the economic record.
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