- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
cross-posted from: https://lemmy.world/post/15086405
Bureau of Labor Statistics releases latest estimate of how much labor receives of national income, showing bleak decline
When Jesse Motte began working at a Starbucks inside a Target store in Columbia, South Carolina, more than two years ago, $15 an hour sounded great. He was excited to start because it was the most he had ever made after working for years in the service industry.
The excitement has dissipated due to his inconsistent and erratic work schedule, the rising costs of necessities and the minuscule raises he and his co-workers receive annually. His most recent annual wage increase was $0.37 an hour.
Motte is not alone. This week, the Bureau of Labor Statistics released its latest estimate for the share labor receives of national income for the first quarter of 2024. The statistics shows the income workers receive compared to the productivity their labor generates.
According to BLS, this income share has declined for non-farm workers from around two-thirds, 64.1% in the first quarter of 2001, to 55.8% in the first quarter of 2024.
You are stuck at step 1, I invite you to move on to step 2 and actually start looking at how we are gonna solve problems.
You can go back all the way to colonial times and feudal times and even earlier to discuss how societies have become less egalitarian since the invention of agriculture.
But we are here, right now and it’s best to identify the actions we can take today, for a brighter tomorrow.
I mean, how we got here probably can inform us as to how we proceed. But ok, fine. Ignore the first part. Answer the 2nd part.