Nationwide, workers are losing their battle to keep up with the growing wealth of the companies employing them.
So says a recent study reported on at Bloomberg.com.
While company profits as a percentage of gross domestic product (GDP) are at a 40-year high (representing 12% of the GDP), government statistics show that over the past 5 years the percentage of wages to the GDP has fallen from 49 percent to 45 percent.
The effects of this widening gap can be seen in many forms: Employee bitterness, long union strikes ending in unfavorable settlements for workers, the median family income remaining stagnant since 2001.
This is an extensive, well researched article on the subject.
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