Not exactly 1929, but… wtfhappenedin1971.com
Comment on Why is that a problem? Did something bad happen in 1929?
chronicledmonocle@lemmy.world 1 week ago
Where is the source for this? I’d like to use it to inform people, but that’s hard with just a picture of a tweet.
Master_Suck@lemmy.world 1 week ago
PolyLlamaRous@lemmy.world 1 week ago
Sorry for the Ai overview, but I don’t live there so only care sooo much. And oddly from Europe I can’t access some pages without swapping my VPN to there.
Here you go:
Workers’ Share of U.S. Income Hits 43% as Nixon’s 1971 Break Gets Revisited – Idaho Public Press share.google/WiCCqpQFXbWjfMGch
When economic experts and financial outlets look at this metric, they pull from raw data available via the Federal Reserve Bank of St. Louis (FRED database):The Component: “Gross Domestic Income: Compensation of Employees, Paid: Wages and Salaries” (FRED Series A4102C1Q027SBEA).The Context: Gross Domestic Income (GDI) measures everything the economy makes by adding up all the income generated. This includes worker paychecks, corporate profits, and investment returns.The Trend: While the total amount of money in the U.S. economy keeps growing, the percentage slice that goes directly into regular workers’ wages and salaries has shrunk over the long term to roughly 43%, making it one of the lowest proportions since recording began in 1929.
A Key Economic Distinction: “Wages” vs "Total Labor Share"If you plan to use this stat in a discussion or research paper, be careful not to confuse “Wages and Salaries” with Total Labor Share.Wages and Salaries (43%): This is just the literal money printed on base paychecks.Total Labor Share (~53% to 62%): When the government calculates the total share going to workers, they include wages plus benefits like health insurance, retirement contributions, and social insurance. The New York Fed reports that the total labor share has also hit historic post-war lows, sitting closer to the low 50s.
PolyLlamaRous@lemmy.world 1 week ago
Gross domestic income: Compensation of employees, paid: Wages and salaries/M2 | FRED | St. Louis Fed share.google/fAEMDQT9FWz7Ga67d