The
The link between productivity gains and wages has been broken.
Recently, the Economic Policy Institute showed that productivity has
grown almost three times faster than wages since 2001. During that
time, 70 percent of the nation’s income growth has gone straight into
corporate coffers as profits—presumably to continue to finance
staggering pay and benefits for executives—a complete reversal from
the previous seven business cycles when 77 percent of the overall
income growth went to wages.
Millwright Ron
www.unionmillwright.com