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submitted 5 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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.

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[-] avidamoeba@lemmy.ca 36 points 5 months ago* (last edited 5 months ago)

Folks like Motte and Ortiz have to drill it into their heads that corporations will not give them anything they're not forced to give. And that the way to force them is a union. People have to snap out of the delusion that if they work hard, their employer will give them what they deserve.

this post was submitted on 06 May 2024
307 points (98.7% liked)

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