Flaylo
Handsome Devil
Labor Force's Share Of Income Plunges To Lowest Recorded Level
What does this mean? Workers are working their asses off and not being properly paid and don't give me that bullshit that they should be happy to have a job.
Now you see why people are Occupying Wall Street.
The labor force's share of income -- or the percentage of national income -- fell to a nearly 60-year-low last quarter, according to data from the Federal Reserve bank of St. Louis. The share dropped to 57.1 percent, according to economist Nouriel Roubini, compared to an average of nearly 65 percent percent before the year 2000.
The low-level of national income that the labor force is taking home signals that though employers may be experiencing a growth in productivity, the rise in income is going towards company profits, not workers. The figures are just one measure indicating that income inequality is on the rise. The top one percent of earners saw their incomes grow by 275 percent between 1979 and 2009, according to the Congressional Budget Office, while the bottom fifth of earners experienced a 20 percent rise in income during the same period.
What does this mean? Workers are working their asses off and not being properly paid and don't give me that bullshit that they should be happy to have a job.
Now you see why people are Occupying Wall Street.