Scary New Wage Data

[saint0917]

I don't know if this has already been posted, sorry if it's a duplicate, I thought it was interesting.

Now for some really scary breaking news, from the latest payroll tax data.

Every 34th wage earner in America in 2008 went all of 2009 without earning a single dollar, new data from the Social Security Administration show. Total wages, median wages, and average wages all declined, but at the very top, salaries grew more than fivefold.

Not a single news organization reported this data when it was released October 15, searches of Google and the Nexis databases show. Nor did any blog, so the citizen journalists and professional economists did no better than the newsroom pros in reporting this basic information about our economy.

http://tax.com/taxcom/taxblog.nsf/Perma ... enDocument

[AZGrizFan]

'Every 34th wage-earner" would imply 3% earned no money in 2009. With unemployment up over 10% most of the year, from roughly 3-4% in 2008 that really isn't "news".