Re:Why Prosperity Has Increased but Happiness Has Not
by TangoTrotFox on Thursday August 23, 2018 @01:55AM
(#17824922)
But they have, and then some. The datum you're referencing misses out on compensation as a whole. Compensation includes a wide array of factors such as insurance, paid time off, sick leave, and various other perks and benefits. This [1] is the graph you should be considering. That is Nonfarm Business Sector: Real Compensation Per Hour. And just to be completely clear "real" means that that graph is indeed inflation adjusted.
"Nonfarm Business Sector" is defined as "a subset of the domestic economy and excludes the economic activities of the following: general government, private households, nonprofit organizations serving individuals, and farms. The nonfarm business sector accounted for about 77 percent of the value of gross domestic product (GDP) in 2000."
"Nonfarm Business Sector" is defined as "a subset of the domestic economy and excludes the economic activities of the following: general government, private households, nonprofit organizations serving individuals, and farms. The nonfarm business sector accounted for about 77 percent of the value of gross domestic product (GDP) in 2000."
[1] - https://fred.stlouisfed.org/series/COMPRNFB