Did you see that wages make up the lowest share of the nation’s gross domestic product since 1947 ?

Question

Meanwhile, corporate profits have climbed to their highest share since the 1960’s?

"Although the economy continues to add jobs, global trade, immigration, layoffs and technology — as well as the insecurity caused by them — appear to have eroded workers’ bargaining power."


" Ben S. Bernanke, the Federal Reserve chairman, did not specifically discuss wages, but he warned that the unequal distribution of the economy’s spoils could derail the trade liberalization of recent decades."

I think that's code for 'globalization and cheap illegal labor is good for big business, but hurts workers and ordinary Americans who are about to cancel the party'.

What do you think?

http://www.nytimes.com/2006/08/28/business/28wages.html?_r=1&ref=us&oref=slogin

Historybuff - I agree.

Answer 1

Absolutely true and getting worse for workers. The hourly wage is at a minus 2% deficit with inflation. Corporate profits are at a high due to high production and low wages. The living standard continues to rise and the American middle class is obsolete. Global trading and immigration are significant to the low hourly wages paid to American Employees. Minimum wage must be increased and corporate America needs to raise employee wages to equal the rise in cost of living. I think its a shame that in this country one is either rich or poor and that the benefits are aimed at the rich.

Answer 2

Get used to it. We will all be working at Walmart before this ends.

The Feds have gutted the industry in the US in the name of quartely profits and stock dividends.

Look at Michigan since the automakers went to Mexico ( and elsewhere) in the eighties the state hasn't recovered.
Michigan is the picture for the future in the US.

"Service industry jobs catering to tourism and the rich"....

Answer 3

Unearned income -- or wealth -- is what counts. A very few wealthy citizens receive the lions share of this country's annual income and the disparity is growing even faster with the current economic/ tax policies.

Answer 4

Yes, in Iraq

Answer 5

Yes indeed ... ensure that the benefits of global economic integration are sufficiently widely shared ... I believe that when I see it ... great article, thanks DAR ...

Answer 6

ITS NOT THEY ARE TAKING JOBS THAT EVERY AMERICAN DEAMS OF. GET A LIFE