Why Middle Class Wages Aren’t Growing

Between 1979 and 2024, productivity in the U.S. soared by 80.9%, while hourly pay grew by just 29.4% during the same period. In June 2024, two-thirds of middle-income households reported that their income was falling behind the cost of living. This trend has often been referred to as ‘wage stagnation’. But more recently, economists have suggested that deliberate policy decisions have actively suppressed worker’s wage growth. So what exactly is preventing the middle class from earning a higher paycheck? Chapters: 1:06 Policies, location and globalization 5:53 Employment conditions 9:16 Politics Produced by: Juhohn Lee Edited by: Andrea Miller Animation: Jason Reginato Supervising Producer: Lindsey Jacobson Additional Footage: Getty Images, Kyle Connolly » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Get started today: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC #Salaries #jobs #Middleclass Why Middle Class Wages Aren’t Growing