No, it’s not your imagination. Contrary to whatever crap you’ve been fed, wages are not keeping up with inflation.
After factoring for inflation, Americans’ median hourly wages have declined 2 percent since 2003, while productivity, the amount an average worker produces in an hour, continues to rise.
Workers’ pay now makes up the lowest share of GDP since the government began recording the data in 1947. In the meantime, corporate profits are at their highest share since the ’60s.
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