What was the average hourly earning for private nonagricultural employees in 1972? --If you look at the Economic Report of the President for 1999, Table B-47, you will see that it was $3.70. --But if you look at the same table in the 2008 Report, you learn it was $3.90.
The figures are in current dollars, not inflation-adjusted. For the years that overlap in the two Reports, the discrepancy ranges from 14 to 23 cents. The trend is upward, but there are fluctuations (the 14-cent gap is for 1989). Shucks, what is five percent? It might make historical analysis of change more difficult, but one part in 20 is still twice as accurate as promised by the famous statement that economics is a one-digit science. What did I miss? Charles Andrews _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
