Americans took home smaller pay raises last year

Over the last year, average annual pay increases have dropped to 3.5 percent, down from average raises of 5 percent for the 12 months ending Oct. 1, 1985, the Labor Department reported Tuesday. White-collar workers have received annual wage and salary increases averaging 4.1 percent over the last 12 months, while blue-collar workers have seen their annual pay raises drop to an average 2.5 percent, the Bureau of Labor Statistics (BLS) said.

Over the same 12 months a year earlier, white-collar workers had enjoyed pay raises averaging 5.4 percent, while blue-collar workers received average wage increases of 4.3 percent, the BLS said in its quarterly report on employment costs.

Since June 1981, five months after President Reagan took office, workers in private industry have seen their pay checks rise 28.8 percent, the bureau said.

During that same time, the Consumer Price Index has risen 21.7 percent, an indication that wages are keeping well ahead of inflation.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK