Corporate profits swell — but workers see no relief
Welders at work next to Boston's TD Garden. Photo: David L. Ryan/The Boston Globe via Getty Images
"Corporate profits have rarely swept up a bigger share of the nation’s wealth, and workers have rarely shared a smaller one," the N.Y. Times' Patricia Cohen writes.
Between the lines: "The lopsided split is especially pronounced given how low the official unemployment rate has sunk."
- "Hourly earnings have moved forward at a crawl, with higher prices giving workers less buying power than they had last summer."
- "Last-minute scheduling, no-poaching and noncompete clauses, and the use of independent contractors are popular tactics that put workers at a disadvantage."
- "Threats to move operations overseas, where labor is cheaper, continue to loom."
Be smart: "For the first time in a long while, workers have some leverage to push for more."
- "Throughout the recession and much of its aftermath, ... many Americans were grateful to receive a paycheck instead of a pink slip ... Now, complaints of labor shortages are as common as tweets."