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Things that are high: corporate profits, CEO pay. Things that are low: wages, employment. This won't come as a surprise, of course, but let's review. Inflation-adjusted wages dropped slightly in the year preceding March 2012, while wages as a percentage of the economy are near an all-time low:

graph showing wages as percent of economy
Wages as a percentage of the economy.
Combine that with a new analysis showing that pay for the CEOs of 15 top banks rose 12 percent last year, with their average pay hitting $12.8 million. Combine it with corporate profit margins hitting an all-time high. Consider that corporate profit margins and overall wages are closely related; a 2011 analysis by JP Morgan found that "reductions in wages and benefits explain the majority of the net improvement in margins." You can cut it a dozen different ways, but the reality of what this is remains the same: class warfare from above.


Originally posted to Daily Kos Labor on Mon Jun 25, 2012 at 01:13 PM PDT.

Also republished by In Support of Labor and Unions, Progressive Hippie, ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement, and German American Friendship Group.

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