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From The
Increasingly Unequal States of America(.pdf) at the Economic Policy
Institute (via this item
at The Nation) comes the graphic below that helps explain why so many
Americans feel so strongly that the economic recovery hasn’t yet reached
them, despite news that U.S. job creation in 2014 reached a 15-year high and
that the unemployment rate has tumbled.
 
The
report notes this is “not just a story of
those in the financial sector in the greater New York City metropolitan area
reaping outsized rewards from speculation in financial markets”.
These are broad-based trends that have occurred nationwide since the 1970s
following many decades when, for example, there “was a cultural and political environment in which it
was unthinkable for executives to receive outsized bonuses while laying off
workers”.
That’s
progress, I suppose.
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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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