Black In Business

Last hired, first fired, It is Justice that’s right Just Us. We still must find a way to be the best in the world at what we do to help close the gap of less income. It is about us, this is potentiality bad news for blackmen if we let it be.Find something you enjoy and have a talent for and then inspire yourself to be the best in the world. We do not have to be poor.

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Annual income of men declines
Median pay is found to be less than in ‘74
Associated Press
May 26, 2007

WASHINGTON — The part of the American dream that says a man’s children will be better off than he was has become a dream, not reality, according to an analysis of census data released yesterday.
A generation ago, American men in their 30s had median annual incomes of about $40,000 compared with men of the same age, who now make about $35,000 a year, adjusted for inflation.

That’s a 12.5 percent drop between 1974 and 2004, according to an analysis of data by the Pew Charitable Trusts’ Economic Mobility Project.

To be sure, household incomes rose during the same period, although the analysis attributed most of the gain to more full-time working women. While income is not the only measure of economic mobility, the findings challenge the historical presumption that each successive generation will be wealthier, said John E. Morton, the report’s co-author.

“[The] data suggest that during a 30-year period of economic expansion, a rising tide did not lift all boats,” Morton said in a release accompanying the report, “Economic Mobility: Is the American Dream Alive and Well?”

Of course, the men who run American companies don’t have too much to complain about. CEO pay increased to 262 times the average worker’s pay in 2005 from 35 times in 1978, according to the report’s analysis of Congressional Budget Office statistics.

The pay gap between executives and the average worker continues to fuel outrage on Capitol Hill and among corporate shareholders nationwide.

Many shareholder proposals to tie executive pay to a company’s operating or market performance are introduced at corporate annual meetings every year.

Most Democrats favor giving shareholders at public corporations a voice in executive pay packages, while the White House and many Republicans favor a laissez-faire approach that includes regulators ensuring executive pay is transparent to workers and investors.

The Pew report also found U.S. economic mobility was inferior to that of other countries, including Denmark, Norway, Finland, Canada, Sweden, Germany and France, when measured by the income differences between generations.

Over the next 18 months, the Pew project, which started in February, will continue to unveil analyses of economic mobility data.

Planned releases include a fact book containing mobility comparisons by race, gender, immigration and other measures, and an analysis of the impact of shifting federal investments in education and other domestic policies.