"What’s going on: Wages fell over the last year for ordinary, non-management workers, according to the Bureau of Labor Statistics, further evidence that companies are managing to avoid paying amid one of the tightest labor markets in decades.
By the numbers:
From June 2017 to June 2018, wages fell by 0.2%.
It was the second consecutive month — in May, average hourly wages fell by 0.1%, the BLS said.
In both months, workers earned more, but that is because they worked more hours, the BLS said.
The big picture: The conundrum of stuck wages has vexed economists for more than a decade, but their underlying assumption had been that as joblessness drops — it’s at 4% now — companies will be forced to push up wages to attract and retain workers. Now that that hasn’t happened, the feeling is beginning to creep in that this is the new normal."
Doesn’t bode well in the current environment, I can’t see the current Congress getting on board with busting up monopolies.
How long until some dumb ■■■■ republican/con comes in here and tells us we need to cut more taxes on corporations and the wealthy so they can afford to pay their employees a tiny bit more money… Which will of course be gobbled up by the rise in interest rates from the banks and the rise in prices from the tariffs.
Proof positive that trickle down hasn’t worked since Patron Saint Ronnie brought it up 35 years ago.
The only answer that we will ever hear from conservatives on this matter is that American workers think too highly of themselves. Wanting a wage that actually allows for food AND a place to live is just a bridge too far.
I remember someone on the old forum actually proposing that instead of wanting a wage that would allow for those things, people should move into what amounts to hostels with 5 or 6 people to an apartment if they want “toys” like food and electricity.
All that in the face of corporations turning record profits for the last 7 years or so…
Whats the DOW at at the moment? You can bet that no conservative will give the answer to that without having to turn themselves into pretzels to make it the fault of anyone but business.
I have an idea. If you don’t like the pay, don’t take the job. Sort of like those jobs Americans won’t work, and that’s why we need illegals. I mean, if you’re going to call out trickle down as a crock, I might as well bring up “jobs Americans won’t work”. Isn’t that the latest in Democratic ■■■■■■■■■■ There are no jobs Americans won’t work, there are jobs Americans won’t work for the pay they’re offered. No illegals and guess what? They’re going to have to pay Americans much more.
You also got trickle down wrong if you thought it meant higher pay.
You’re near full employment. How much do you think the farms will have to pay to get Americans to quit their current jobs, potentially move state and go do backbreaking work for only parts of the year before then moving on to another state to do the same?
It’s not just the low pay that puts people off farm work. It’s also the way of life.
The article said that individuals were making more because they were working more hours. I’d say that’s step one. Once everyone is back to working a 40 hour shift, then wages would have to go up. I also wonder if in “wages”, other benefits are included like insurance? As the cost of insurance goes up and if the employee isn’t paying anymore, then their wages went up even though their actual hourly wage didn’t. I’d give this tax decrease more than just 6 months before I give an opinion of whether it’s been good or not for workers?
How many companies do you know of that absorb the entire cost increase of health insurance premiums without passing any of that cost increase on to their employees?
That’s a company I’d love to work for…becase I’m not aware of any.
As for the first one…working longer hours is a “step in the right direction”? Seriously?
Forgot to add…wages have been stagnant since the 1970s.
Please explain how you feel this tax cut is different from previous tax cuts that it has the potential to change this long-term wage trend when the other tax cuts didn’t.
repatriating money has nothing to do with wages. Why would a corp raise wages simply because their money is sitting in a US bank instead of a foreign bank?
