![]() ![]() But that doesn’t stop Fed Chair Jerome H. ![]() So why is the Fed out to crush workers?Įven Federal Reserve economists know that wages had no effect on inflation. law and past practice, piecemeal organizing drives in discrete workplaces such as Starbucks stores always face an uphill battle.īusiness Column: Wage growth doesn’t drive inflation. If there’s an argument against distributing more of that largesse to the workforce that made that growth possible, let’s hear it. In other words, the company’s profit margin nearly doubled, to 11.6% last year from 6% in the year before COVID. UPS revenue grew to $100.3 billion last year from $74.1 billion in 2019, and profit grew to $11.6 billion from $4.5 billion in 2019. That includes UPS, where the pandemic burnished the financial picture. ranked at or near the bottom on measures of wage policies including minimum wages (36 out of 38), rights to organize (32nd) and worker protections (dead last at 38).Įmployers have fared much better, thank you. Labor expert Theresa Ghilarducci of the New School points us to a recent survey by Oxfam showing that among the 38 developed nations in the Organization for Economic Cooperation and Development, the U.S. As I’ve reported before, the notion that American workers have gained an edge over employers in the pandemic’s wake has been wildly overstated. ![]()
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