Thursday, October 23, 2014

The workforce recession is "over": Social Security wage earners finally surpass the 2007 peak in 2013

The wage statistics report for 2013 from Social Security came out today and shows that the number of workers for Social Security purposes has finally in 2013 exceeded the level first reached in 2007, after bottoming out in 2010. The level in 2013 is not up by much since 2007, but 200,000 workers is 200,000 workers. Unfortunately, however, the population level is up far more than that over the period . . . by 15 million net. And more people regrettably are also making less than the raw average shown. Between 2007 and 2013 these have increased from 66.6% of workers to 66.9%.








2007: 155.57 million workers/net compensation $6.03 trillion = $38,760 per worker
2008: 155.43 million workers/net compensation $6.16 trillion = $39,631 per worker
2009: 150.91 million workers/net compensation $5.89 trillion = $39,029 per worker
2010: 150.39 million workers/net compensation $6.00 trillion = $39,896 per worker
2011: 151.38 million workers/net compensation $6.23 trillion = $41,154 per worker
2012: 153.63 million workers/net compensation $6.52 trillion = $42,439 per worker
2013: 155.77 million workers/net compensation $6.70 trillion = $43,012 per worker