Average U.S. Wages Going -- China Growing

Last Updated Sep 4, 2007 1:26 PM EDT

Check Cashing image by Orion OptiglotTwo great articles on the front page of the New York Times today: While China's wage is growing at a record pace, U.S. wages are stagnant at best, and likely making a retreat. The current average wage per worker was most recently $17.52 an hour in February of this year and has since fallen, according to the Labor Department.

Although median household income has risen, it's likely due to people putting in more work hours and the increase in the number of family members entering the workforce. "The important theme going on here is a labor market that's definitely offering people more work and more hours, but lower wages," says Jared Bernstein, an economist at the Economic Policy Institute.

Though household income has risen slightly, the amount of people lacking health insurance has hit an all-time high.

Check Cashing image by Orion Optiglot