A Republican World – The ‘Where Are The Jobs As Corporations Are Making Record Profits’ Edition – ‘Corporate Profits Hit A New Record High Last Year’
Indeed….Where are the jobs?
Just when does that ‘trickle drown’ take affect?
‘After-tax profits for American corporations hit another record high last year, rising to $1.68 trillion’.
‘As this chart from Quartz shows, profits have been on a roll for some time, more than fully recovering what was lost during the recession’.
‘The profits have helped boost CEO pay: Among 50 public companies, they saw a 4.1 percent increase in pay at the median last year, netting $9.8 million at that mark’.
‘That’s after average CEO pay hit a record high in 2012.
But this wealth hasn’t trickled much further down’.
‘Despite the fact that workers have been increasing their productivity — helping to drive those corporate profits — they haven’t seen much of a reward’.
‘Wages are growing at the slowest rate since the 1960s, only just barely outpacing inflation’.
‘They have actually declined since 2007, and the trend extends back even further: American workers have experienced a “lost decade” of wage growth, as their pay stayed flat or declined between 2000 and 2012, despite a 25 percent bump in productivity’.
- ‘On the whole, corporate profits have grown 20 times faster than workers’ incomes since 2008’.