Hourly compensation for American workers has increased 60 percent since 1970. Hourly take-home pay has barely increased at all.
What’s the difference? Financial analyst Barry Ritholtz said it is the rising cost of health insurance—which is most certainly not the same thing as a higher level of medical care.
Most American workers are probably better off taking their employer-based health insurance than they are taking their entire compensation in cash and trying to buy insurance on the open market.
Either way, we’re paying more for medical care, and getting less for our money, than citizens of other industrial countries.
Why Better Wages Are Tied to Healthcare Costs by Barry Ritholtz for The Big Picture.
Although spending for medical care rising faster in the United States than in other industrial countries, we Americans are not as healthy as citizens of those countries. We’re spending more and getting less for our money.