If the minimum wage had increased as much as Wall Street bonuses since 1985, it would be worth $61.75 today.
By Sarah Anderson, Inequality.org
While inflation has wiped away wage gains for most U.S. workers, just-released data reveal that Wall Street employees are enjoying their biggest bonus bonanza since the 2008 crash.
The Inflation Divide
The average annual bonus for New York City-based securities industry employees rose 20 percent to $257,500 in 2021, far above the 7 percent annual inflation rate. By contrast, typical American workers lost earnings power in 2021. Average weekly earnings for all U.S. private sector employees rose by only 2 percent between January 2021 and January 2022, according to the Bureau of Labor Statistics.

Unlike hourly wage data, average weekly earnings reflect the fact that many Americans had to cut back on work hours last year, largely due to Covid-related illness, lack of child care, and other family care pressures. The average weekly hours worked by U.S. private sector employees dropped from 35.0 to 34.5 between 2020 and 2021.
Recent Posts
Bernie Sanders Vs. Howard Schultz: Longtime Starbucks CEO Grilled On Company’s Union-Busting Tactics
March 30, 2023
Take Action Now Bernie Sanders grilled the former Starbucks CEO Howard Schultz about the company’s illegal anti-union practices by Amy…
Tragedy In Ciudad Juárez Highlights Dangers Faced By Migrants
March 30, 2023
Take Action Now The tragic event shines a light on the multitude of dangers facing the hundreds of thousands of migrants who set off on perilous…
How Abortion Bans Are Impacting Pregnant Patients Across The Country
March 30, 2023
Take Action Now Leading legal scholar Mary Ziegler and Tennessee OB-GYN Dr. Nikki Zite talk to ProPublica about ominous trends and threats to…
The Biden Budget Does Some Good But Could Do More If It Cut The Pentagon
March 30, 2023
Take Action Now It’s clear that keeping the status quo on Pentagon spending means needlessly keeping millions mired in poverty By Lindsay…