Home > Uncategorized > US Has Lower Wages And Higher Unemployment Than All Of These Developed Countries – Business Insider

US Has Lower Wages And Higher Unemployment Than All Of These Developed Countries – Business Insider

September 10, 2012 Leave a comment Go to comments

US Has Lower Wages And Higher Unemployment Than All Of These Developed Countries – Business Insider.

Contra Eric Cantor, Labor Day celebrates the importance of labor and the labor movement in American history. But the bluster of Cantor, where he celebrates the so-called job creators, does illustrate that organized labor has been in decline in this country for quite some time.

One result of having a weak labor movement is that average wages in the United States have fallen behind those of 10 other industrialized democracies that are members of the Organization for Economic Cooperation and Development (OECD). What is most confounding, for Republicans at least, is that nine of these countries also have lower unemployment, which contradicts their view that high wages (and high minimum wages) harm employment. 

The table below below is constructed from data at OECD StatExtracts, showing the average earnings of all wage and salary workers in each country, as well as its most recent unemployment rate (usually July 2012).

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