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October 9th, 2015 at 10:24 am
Not unemployed but "not in the workforce".
That's one easy way to look at it, probably the right way to look at it. Then, of course, a job is not a job and the quality of jobs died in 2009 and never came back so those 142M people are not even keeping up with inflation.
Let's say just 5% behind – that's like losing 7M more jobs but we know CEO pay and executive pay (Wall St bonuses, for example) have boomed so looking at AVERAGE earnings is very misleading as it includes people in the top 1% who make 1,000 times more than average and have seen their incomes double – that pretty much accounts for ALL of the gains in the "average" incomes.
Very simply, how many people do you know now (not in the top 10%) who take more vacations or buy more stuff than they did 10 years ago?