Using a data set from the Bureau of Labor Statistics (BLS), the Average Weekly Wage rose through the Obama Administration and continues to rise through the Trump Administration. This statement may conflict with either political filter, liberal or conservative, or it may conflict with both political filters, liberal and conservative.
However, the data derived from the BLS illustrates the increasing wage and the trend-line indicates that wages will probably continue to increase into at least the near future, according to a linear forecast conducted.
It should be noted that this data set of Average Weekly Wage is based on the following conditions: all geographical locations within the United States that includes all industries, in the private industry, and establishments of all sizes.
Here’s the Average Weekly Wage graph:
As Graph 1 illustrates, Average Weekly Wages have been consistently increasing, although variable in nature, since the beginning of 2009. This means that although wages have been fluctuating, there were no extreme fluctuations and the trend shows that wages increased after they dropped.
Moreover, this systems behavior, pattern, was consistent throughout the analyzed period. Therefore, wages will probably increase to its highest value since the beginning of 2009 – approximately $1,200.00.
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Categories: Economics Blog