'U.S. Workers Are Getting Record-Low Compensation Based on Their Productivity'

[sop]

"The widening rift between the haves and the have-nots continues to be borne out in federal data, as a Thursday Bureau of Labor Statistics report revealed U.S. workers are doing more and reaping less."

"Workers are earning record low wages and other compensation compared to their labor output, according to the BLS productivity and costs report published Thursday. Called the 'labor share,' this indicator essentially measures how much of the nation’s economic earnings is used to pay wages and other worker benefits."

"At 54.1%, workers are netting the lowest earnings compared to the income they’re producing since the data started being collected in 1947. Meanwhile, labor productivity increased 0.8%, output increased 1.5%, and people worked 0.7% more month over month."

“ 'I think it’s really disturbing news for workers,' Joseph McCartin, professor of labor history at Georgetown University, told TPM, 'because it shows that even while the economy is growing, workers are getting a smaller and smaller share of the economic pie.' "

Continued at link:

https://talkingpointsmemo.com/news/u-s-workers-record-low-wages-labor-share-bls