MIAMI (CBSMiami.com) – Florida is touting the new jobs it created Friday after a positive unemployment report. But based on numbers from all W-2’s filed in the country, the wages simply aren’t keeping up.
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans, saw their earnings fall by $4.5 billion collectively.READ MORE: Officials Worry Large Crowds Will Leave Mess Behind After Memorial Day Weekend
The sobering numbers were a far cry from what was going on for the richest one percent of Americans.READ MORE: Death Of Child Pulled From Homestead Pond Under Investigation
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion.
In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009.MORE NEWS: Florida Law Enforcement Officials Reassure Parents On Potential School Shooter Threat
Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.