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FYI: A massive and growing income gap revealed in several recent Labor Department reports has typified the American economy since 2001, a report in today’s Wall Street Journal explains (subscription required), reflecting the fact that the much-discussed economic recovery has not hit the job market. Between the fourth quarters of 2000 and 2003, the median weekly wage of workers in the lowest 10 percent earning bracket climbed from $284 to $303, a 0.6 percent increase after inflation. In the same period, wages for the top 10 percent grew from $1,299 to $1,440, a 4.5 percent increase after inflation. Economists point to technological advancements that have eliminated previously middle-class jobs, a collapsing manufacturing sector, and labor’s continuing decline in membership and bargaining power. [1/23/04]

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