value added pie re cut since nixon

Table 1

Table 1 (continued)

Reconciling growth in median hourly compensation and productivity, 1973–2011 1973–79 1979–95 1995–00 2000–11 1973–11 A. Basic trends (annual growth) Median hourly wage -0.26 -0.15 1.50 0.05 0.10 Median hourly compensation 0.56 -0.17 1.13 0.35 0.27 Average hourly compensation 0.59 0.55 2.10 0.95 0.87 Productivity 1.08 1.29 2.33 1.88 1.56 Productivity-median compensation gap 0.52 1.46 1.21 1.53 1.30 B. Explanatory factors (percentage-point contribution to gap) Inequality of compensation 0.02 0.72 0.97 0.59 0.61 Shifts in labor’s share of income 0.03 0.23 -0.40 0.69 0.25 Divergence of consumer and output prices 0.46 0.51 0.64 0.24 0.44 Total 0.52 1.46 1.22 1.52 1.29 C. Explanatory factors (percent contribution to gap) Inequality of compensation 4.8% 49.6% 80.0% 38.9% 46.9% Shifts in labor’s share of income 5.5% 15.4% -32.5% 45.3% 19.0% Divergence of consumer and output prices 89.7% 35.0% 52.5% 15.8% 34.0% Total 100.0% 100.0% 100.0% 100.0% 100.0% Note: Totals for panels A and B do not exactly match due to rounding Source: Analysis of Mishel and Gee (2012) Table 1