Wages and Salaries are down as percent of gross domestic product
In the 1st quarter of 2001 the share of the GDP of ages and salaries was 49.5%
By the 3d quarter of 2004 it was down to 45.4%, a drop of 4.1%.
Corporate Profits Up
In that same period corporate profits went up, from 7.8% in 2001
to 10.1%, and increase of 2.3%.
Adjusting for inflation, total wage and salary income rose modestly, just enough to offset declines in 2001 and 2002, leaving real wage and salary income the same as in 2001.
This is the lowest level of growth on record, except for the double-dip recession of the early 1980s.
for more details: www.cbpp.org HOME