Archives

NC Budget and Tax Center

For many North Carolina workers, the 2000s were a lost decade. Despite the economic promise of the 1990s boom, incomes, wages, and employment stagnated for 80% (and overwhleming majority) of the state’s residents between 2001 and 2011. At the same time, however, the top 20% of North Carolina’s workers saw a significant increase in their wages, in turn driving wage inequality ever higher. For details on the troubling growth in the state’s wage inequality, see this week’s issue of Prosperity Watch.

Motivated by the trends in wage and income inequality revealed by Prosperity Watch, the Budget & Tax Center is hosting an upcoming gathering with friends to highlight North Carolina’s growing gap between the hghest wage earners and everyone else–and the implications of this gap for the state’s long-term economic health.  Anyone interested in this important issue is welcome to attend the gathering, and enjoy an art exhibit entitled PoorQuality:Inequality, at the Duke University Center for Advanced Hindsight.  For more information and to RSVP click here.  Come join us!

 

Uncategorized

The N.C. Budget and Tax Center reported recently that while North Carolinians are working harder than ever, most are not reaping the benefits economically. The report points to the “off-shoring” of jobs as a major contributor to soaring income inequality.

Yesterday, Senior Economist John Schmitt of the Center for Economic Policy Research reported similar findings on the national level; American workers are better and more productive than ever.

“The workforce today is more experienced, much better educated, and working with more –and better– capital. Largely as a result, GDP per capita was 63 percent higher in 2010 than it was in 1979.”

Schmitt’s report, however, points to parallel and closely related contributing cause for growing wage and income inequality: the decline in worker bargaining power. Read More