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"Wages in finance were excessively high around 1930 and from the mid 1990s until 2006," wrote Thomas Philippon of New York University and Ariell Reshef of the University of Virginia, in a National Bureau of Economic Research working paper released this week, "Wages and Human Capital in the U.S. Financial Industry, 1909-2006".
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By 2009, wages had consumed 84 percent of the $442 million Police Department budget.
In 1976, wages made up 65 per cent of Britain's GDP.
By 2006, wages in the financial sector were about sixty per cent higher than wages elsewhere.
Until 1975, wages nearly always accounted for more than 50 percent of the nation's G.D.P., but last year wages fell to a record low of 43.5 percent.
For the first time in six years, wages are going up faster than the rate of inflation.
By the end of 2011, wages had still not recovered as much as productivity had.
In the past year wages have risen by 1%; property prices are up by 8.4%.
By the 1370s wages had risen dramatically and prices of foodstuffs fallen.
But were the 2008 wages appropriate then, and are they appropriate now?
"Over the past six months, wages have grown at their fastest rate since early 2009," the US president told reporters.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com