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As a result, the share of national income going to workers has declined, while that to firms has increased.
The median hourly wage for American workers has declined 2percentt since 2003, after factoring in inflation.
Mr. Greenspan's estimate of 10 million would-be workers has declined from 13 million in January 1996.
The number of workers has declined in the past year amid complaints from hoteliers and inn-keepers about drink-fuelled fights.
And although the number of city workers has declined by about 1percentt since Mr. Bloomberg took office, he has been increasing the staff of late, adding nearly 10,000 workers since 2004, bringing the total up to 367,643.
Wages may have been growing rapidly, but the share of income going to workers has declined, which partly explains the decline of consumption to 40% of GDP, which is lower than in other major economies.
Similar(45)
When adjusted for inflation, the wages of low-paid workers have declined.
In the minutes, Fed officials pointed out that "both long- and short-term unemployment and measures that include marginally attached workers had declined".
As a result, oil production is recovering and kidnappings of foreign oil workers have declined, though political violence related to the recent election in the Delta has continued.
Regulations enacted in the early '90s have made cigarette smoke in hospital corridors a thing of the past, and since then smoking rates among health care workers have declined.
Acemoglu and Autor (2011) have shown that earnings and employment prospects of less educated workers have declined sharply since the late seventies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com