Friday, July 1, 2011

Profits over People

The Economix blog today reports on a devastating new report  by Northeastern University that shines a light on the lopsided economic recovery that has showered profits on large corporations while workers continue to be squeezed.

Here it is in black & white: Since the recovery began in June 1999, “corporate profits captured 88 percent of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1 percent” of that growth — a situation the researchers call unprecedented. Keep that in mind next time you hear corporate executives and their lobbyists complaining of unfair policies. You can download a pdf of the report, "The Jobless and Wageless Recovery," here.

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