You will soon enough!
https://www.barrons.com/articles/fo...ission-cash-distribution-delaware-51590779210
But even with those caveats, the fact that compensation from a social safety net program is surpassing wages in the richest country in the world is an embarrassment. It’s no secret that wages have been stagnant for decades, while the vast majority of income growth has gone to the richest Americans. According to a 2018 Pew Research study, the real average wage for American workers has the same purchasing power as it did in the late 1970s. That same year, however, the Economic Policy Institute found that wages for the top 1% of income earners went up by 151% since 1979. This disparity in wage growth isn’t a coincidence—that’s around the same time President Ronald Reagan’s administration began to undermine the power of organized labor.
And while wages have been stagnating, the cost of living risen relentlessly over the years. In its 2019 Out of Reach report, the National Low-Income Housing Coalition calculated that in order for a worker to afford an apartment at the Department of Housing and Urban Development’s fair market rent rate, they’d have to make an average of $18.65 an hour for a modest one-bedroom home. For someone making the federal minimum wage of $7.25 per hour, they’d have to work 103 hours a week (more than two full-time jobs) to afford a one-bedroom apartment at the benchmark rate.
t’s tough to make it work even in the best of circumstances. Consider someone receiving Massachusetts’ top jobless benefit of $823 per week for up to 39 weeks, which is the highest unemployment compensation possible anywhere in the nation (most states pay just $300 to $500 per week). According to Curbed, the median rent in Boston in 2019 was nearly $2,500 per month for a one-bedroom apartment, and over $2,800 for a two-bedroom rental. Even if a Massachusetts worker qualifies for $823 per week in benefits, that leaves little else after rent for other essentials.
https://www.barrons.com/articles/fo...ission-cash-distribution-delaware-51590779210
But even with those caveats, the fact that compensation from a social safety net program is surpassing wages in the richest country in the world is an embarrassment. It’s no secret that wages have been stagnant for decades, while the vast majority of income growth has gone to the richest Americans. According to a 2018 Pew Research study, the real average wage for American workers has the same purchasing power as it did in the late 1970s. That same year, however, the Economic Policy Institute found that wages for the top 1% of income earners went up by 151% since 1979. This disparity in wage growth isn’t a coincidence—that’s around the same time President Ronald Reagan’s administration began to undermine the power of organized labor.
And while wages have been stagnating, the cost of living risen relentlessly over the years. In its 2019 Out of Reach report, the National Low-Income Housing Coalition calculated that in order for a worker to afford an apartment at the Department of Housing and Urban Development’s fair market rent rate, they’d have to make an average of $18.65 an hour for a modest one-bedroom home. For someone making the federal minimum wage of $7.25 per hour, they’d have to work 103 hours a week (more than two full-time jobs) to afford a one-bedroom apartment at the benchmark rate.
t’s tough to make it work even in the best of circumstances. Consider someone receiving Massachusetts’ top jobless benefit of $823 per week for up to 39 weeks, which is the highest unemployment compensation possible anywhere in the nation (most states pay just $300 to $500 per week). According to Curbed, the median rent in Boston in 2019 was nearly $2,500 per month for a one-bedroom apartment, and over $2,800 for a two-bedroom rental. Even if a Massachusetts worker qualifies for $823 per week in benefits, that leaves little else after rent for other essentials.
