Monday numbers

Monday numbers

Monday numbers 38—percentage by which inflation-adjusted U.S. median incomes fell between 1999 and 2014 (Pew Research Center “America’s Shrinking Middle Class: A Close Look at Changes Within Metropolitan Areas,” May 11, 2016)

61—percentage of Americans who were middle class in 1971 (Ibid.)

50—percentage in 2015 (Ibid.)

86.3—Amount that worker productivity has grown in North Carolina since 1979 (N.C. Budget and Tax Center Prosperity Watch Issue 53, No.2 – “More productive but falling wages for North Carolina workers”)

22—percent that wages have grown in North Carolina during that same period (Ibid.)

76—number of years since the federal Fair Labor Standards Act established the American 40 hour work week (PolitiFact, September 8, 2015)

Several million—number of Americans who work more than 40 hours each week without receiving overtime pay (White House Fact Sheet: “Growing Middle Class Paychecks and Helping Working Families Get Ahead By Expanding Overtime Pay,” May 17, 2016)

62—percentage of Americans who qualified for overtime pay based on their salaries in 1975 under federal law (Ibid.)

7—percentage who qualify today after years of inflation and a failure to update standards as the result of lobbying by corporate interests (Ibid.)

$23,660 per year—current annual salary threshold at which one earns too much to qualify for federal overtime protections (Ibid.)

191—number of days until all of this will change when new Obama administration rules announced last week by the U.S. Department of Labor go into effect on December 1, 2016 (Ibid.)

$47,476—new salary threshold that will go into effect at that time (Ibid.)

4.2 million—number of Americans to who overtime benefits will be extended under the new rules (Ibid.)

155,971—number of salaried North Carolina workers who will benefit directly from the change (Economic Policy Institute: “The new overtime rule will benefit working people in every state,” May 18, 2016)

$12 billion—amount that wages of American workers will increase over 10 years once the new standard takes effect (White House Fact Sheet)

3—new frequency that the salary threshold will be updated based on wage growth over time, thus increasing predictability and giving businesses time to adjust their payrolls (Ibid.)