Monday, September 03, 2012

"The War that Business and Republicans Are Waging on Labor"

"Are American workers becoming less productive? On the contrary, a Wall Street Journal survey of the Standard & Poor’s 500, the nation’s largest publicly traded companies, found that their revenue per worker increased from $378,000 in 2007 to $420,000 in 2010. The problem is that workers get none of that increase. As economists Ian Dew-Becker and Robert Gordon have shown, all productivity gains in recent decades have gone to the wealthiest 10 percent of Americans, in sharp contrast to the three decades following World War II, when Americans at all income levels shared in the productivity increases.
"The primary plight of U.S. workers isn’t their lack of skills. It’s their lack of power. With the collapse of unions, which represented a third of the private-sector workforce in the mid-20th century but just 7 percent today, workers simply have no capacity to bargain for their share of the revenue they produce."

On Labor Day, Harold Meyerson in The Washington Post discusses the impact of the decline of unions in the United States.

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