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Accessibility Information U.S. Department of Labor 2001

Chapter 2:
The evolution of compensation in a changing economy

Message from the Secretary of Labor
Chapter 1
Chapter 2
Chapter 3
Appendix: Statistical Tables
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Structural change and American labor 57
The influence of Social Security legislation 58
The right to bargain collectively 58
Setting standards 59
Composition of pay 65
Pre-World War I reform and economic volatility 65
World War I and prosperity 67
The Great Depression and the Federal role in the economy 69
World War II and the transition to a peacetime economy 71
The Korean War to beyond the Great Society 73
Inflation, recession, and high unemployment 75
An economy in transition 77
The 1990s and the New Economy 79
Future trends in employee compensation 82

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Last Updated: August 30, 2001