Monday, May 24, 2004

Don't expect a big raise

Title: Experts: Don't expect a big raise
Source: Miami Herald
Date: May 7, 2004

From the article:
    Last week, the Labor Department said that in this year's first quarter, salaries rose just 0.6 percent. Meanwhile, the Commerce Department's latest report on national economic output showed inflation running an annual rate of 3.2 percent.

    Despite the overall recovery, ''wages have been just barely keeping up with inflation and now are getting somewhat below inflation,'' said Lawrence Mishel, president of the Economic Policy Institute, a liberal-leaning research group. ``That is the slowest wage growth we have had in decades.''

    Few see relief on the way.
Executive salaries are skyrocketing. Dividends are increasing. Profits for many companies are way up this year. Because of automation and robotics productivity is increasing rapidly. Yet workers get none of it. Instead, the wealth is concentrating.


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