New York Times :: We're More Productive. Who Gets the Money? [Bob Herbert]
Article

> The situation is summed up in the long, unwieldy but very
> revealing title of a new study from the Center for Labor
> Market Studies at Northeastern University: "The
> Unprecedented Rising Tide of Corporate Profits and the
> Simultaneous Ebbing of Labor Compensation - Gainers and
> Losers from the National Economic Recovery in 2002 and
> 2003."
>
> Andrew Sum, the center's director and lead author of the
> study, said: "This is the first time we've ever had a case
> where two years into a recovery, corporate profits got a
> larger share of the growth of national income than labor
> did. Normally labor gets about 65 percent and corporate
> profits about 15 to 18 percent. This time profits got 41
> percent and labor [meaning all forms of employee
> compensation, including wages, benefits, salaries and the
> percentage of payroll taxes paid by employers] got 38
> percent."

Curiously, I can't find this report on the web. Herbert writes in his article: "This is extraordinary, but very few people are talking about it, which tells you something about the hold that corporate interests have on the national conversation. " I guess so!

(There was a story that interviewed one of the report's authors on PRI's Marketplace.)
posted by Tomohiro Idokoro @ 8:56 PM

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