I had to shake my head when I read this line in Ben Stein’s column from yesterday:
The average wage of the American worker adjusted for inflation is lower than it was in 1973.
No, it hasn’t. What has changed is the structure of work in our society. There are far more jobs available for people like housewives and immigrants in the passed thirty years. The jobs they take are often low-wage. Since these workers have been flooding into our economy, they have had a depressing effect on a statistic like “average wages.”
Average wage is a highly misleading statistic used by the left. I’m sorry Ben bought into it.