Real Wages Fail to Match a Rise in Productivity (NYT)

[WePurrsevere]

Link to NYT article: http://tinyurl.com/lgmuz

With the economy beginning to slow, the current expansion has a chance to become the first sustained period of economic growth since World War II that fails to offer a prolonged increase in real wages for most workers.

That situation is adding to fears among Republicans that the economy will hurt vulnerable incumbents in this year’s midterm elections even though overall growth has been healthy for much of the last five years.

The median hourly wage for American workers has declined 2 percent since 2003, after factoring in inflation. The drop has been especially notable, economists say, because productivity — the amount that an average worker produces in an hour and the basic wellspring of a nation’s living standards — has risen steadily over the same period.

As a result, wages and salaries now make up the lowest share of the nation’s gross domestic product since the government began recording the data in 1947, while corporate profits have climbed to their highest share since the 1960’s. UBS, the investment bank, recently described the current period as “the golden era of profitability.”

(Con't at above link)

[JHB]

1. What a surprise!

You systematically dismantle the mechanisms that connect wages to "growth" (as well as any ethical rational for doing so), and VIOLA -- it will fail to do so.

And Bush's FedHead scolds us not to try any of that icky "protectionism" stuff...

[NVMojo]

2. Let Greedom reign in corporate USA, Bushworld!

[snappyturtle]

3. Read this.....MN is in fine shape!

This, according to Tim Pawlenty our esteemed Governor.....:sarcasm:


"In the last four years we have increased funding for our public schools, we have 120,000 new jobs, we have tougher penalties for meth dealers and sex offenders and we are holding the line on taxes

There is more to be done. We have to continue to hold government accountable, grow our economy, improve our schools, and hold the line on taxes.

Lets keep moving Minnesota forward."


I subscribe to TP's newsletter so I know where his head is.....not a nice place!

He has cut so many programs in MN including MN Care a medical care system for lower income citizens to the point that now only the almost destitute need apply. In his ad he brags about operating in the black......on the backs of his citizens.

Edit: if you want the link to his sickening political campaign...e-mail me.