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The Wrecking Ball
Post-Great Recession Blues
Sylvia A. Allegretto, PhD
Institute for Research on Labor & Employment University of California, Berkeley
The Wrecking Ball Post-Great Recession Blues Sylvia A. Allegretto, - - PowerPoint PPT Presentation
The Wrecking Ball Post-Great Recession Blues Sylvia A. Allegretto, - - PowerPoint PPT Presentation
The Wrecking Ball Post-Great Recession Blues Sylvia A. Allegretto, PhD Institute for Research on Labor & Employment University of California, Berkeley ~Bruce Springsteen Unions, NLRB Corporate power & the wealthy The Economy:
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The Economy: Workers & citizens
Corporate power & the wealthy
Unions, NLRB
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0% 50% 100% 150% 200% 250% 300%
Average hourly compensation Productivity
Source: U.S. Bureau of Labor Statistics. Allegretto 2013
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18% 28% 35% 43% 65% 277%
0% 50% 100% 150% 200% 250% 300%
Lowest quintile 2nd quintile Middle 4th quintile 81st-99th percentiles Top 1%
Source: U.S. Congressional Budget Office. Allegretto 2013
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42% 44% 46% 48% 50% 52% 54% 0% 5% 10% 15% 20% 25% 30% 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011
Middle class share of total income
Source: Hirsch and Macpherson, unionstats.com; U.S. Census, Current Population Reports. Allegretto 2013
Union membership
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61.0% 23.3% 9.0% 5.8% 9.0% 1.3% 6.3% 12.5% 27.7% 52.2% 0% 10% 20% 30% 40% 50% 60% 70% Bottom 20% Second Middle Forth Top 20%
Started: Bottom Started: Top
Source: Allegretto's calculations Acs & Zimmerman (2008). Allegretto 2013
Where you start matters
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3.0% 8.0% 29.0% 7.0% 21.0% 47.0% 30.0% 51.0% 74.0% 0% 10% 20% 30% 40% 50% 60% 70% 80% Low Score Middle Score High Score
Percent Completing College
Low Income Middle Income High Income
Source: Allegretto’s analysis of Fox, M.A., B.A. Connolly, and T.D. Snyder. 2005.
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0.0 0.1 0.2 0.3 0.4 0.5 0.6
Chile United Kingdom Italy United States France Spain Germany New Zealand Sweden Australia Canada Finland Norway Denmark
Longer bar less mobility
Source: Pew Charitable Trust Mobility Project’s analysis of Corak, 2006. Allegretto 2013
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0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 1950 1952 1954 1956 1958 1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
United States Canada
Source: OECD. Allegretto 2013
United Kingdom
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Wealth Political access Policies
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1945 94.0% 2013 44.6%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Top marginal income tax rate on ordinary income Source: Citizens for Tax Justice. Allegretto 2013
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- 2.6%
- 1.3%
- 1.5%
4.3% 10.9% 16.0% 35.9% 38.3%
- 5%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Lowest quintile: <20% 2nd quintile: 21%-40% 3rd quintile: 41%-60% 4th quintile: 61%-80% 80th-<90th percentile 90th-<95th percentile 95th-<99 percentile Top 1%
74.2% to Top 5%
Source: Economic Policy Institute, SWA data analysis by Ed Wolff. Survey of Consumer Finances. Allegretto 2013
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- 7%
- 6%
- 5%
- 4%
- 3%
- 2%
- 1%
0% 1%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65
1 9 8 1
Source: Allegretto’s analysis of Current Employment Statistics data. Data as of June 2013.
US today!!
- 1 .7 %
- 2 .4 m illion
The only deficit that matters…JOBS!
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Sylvia A. Allegretto, PhD
(allegretto@berkeley.edu) 510-643-7080 Institute for Research on Labor & Employment University of California, Berkeley