GDP growth not reaching paychecks [View All]

NEW YORK (CNNMoney.com) -- The economic expansion that began six years ago has failed to benefit most workers, according to a report from the nonpartisan Economic Policy Institute, released Monday.
The economic recovery that began in 2001 has lifted productivity growth and employment of late, but has had little impact on many workers' wages.

Productivity growth, although slower of late, has been strong since 2000. After a sluggish start in the period, employment has picked up, although at a slower pace than in past recoveries. Yet, that growth hasn't transferred to workers' paychecks, particularly for workers at the lower and middle end of the pay scale, the report found.


After rising quickly in the second half of the 1990s, most workers real wages have been stagnant in the 2000s, especially since 2003.

The average CEO of a large U.S. company made roughly $10.8 million last year, or 364 times that of U.S. full-time and part-time workers, who made an average of $29,544, according to a joint analysis released Wednesday by the liberal Institute for Policy Studies and United for a Fair Economy.
http://money.cnn.com/2007/09/03/news/economy/epi_report/index.htm?cnn=yes

I do believe there is two America's one for the rich and one for the poor.