tag:blogger.com,1999:blog-6616959642391988608.post1037579553254669034..comments2024-03-19T02:45:37.685-07:00Comments on Calafia Beach Pundit: Real personal income is risingScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6616959642391988608.post-36009132346687287392009-03-02T18:03:00.000-08:002009-03-02T18:03:00.000-08:00Productivity has risen over the past year, so it s...Productivity has risen over the past year, so it stands to reason that companies have been firing the least productive of their workers, and that probably means the ones in the bottom range of the pay scale. Workers not laid off are likely working harder and are thus more productive in aggregate. This is really the only way to reconcile the fact that real incomes are up while employment is down.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49248807538597150302009-03-02T13:44:00.000-08:002009-03-02T13:44:00.000-08:00Hi Scott,About a month ago, I saw a convincing ana...Hi Scott,<BR/>About a month ago, I saw a convincing analysis of why average (median) wages were rising in this downturn: The layoffs have been biased towards lower wage jobs. In other words, when these lower wage workers lose their jobs, the average (median) wage calculation does not replace them with a zero but simply removes them from the calculation. Does this data showing rising personal Mark Gerberhttps://www.blogger.com/profile/07980096984624964261noreply@blogger.com