Progressive Politics

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TokenBoomer@lemmy.world

US labor share of income falls to lowest on record; 2025 jobs figures weakest outside of official recession since 2003 (www.wsws.org)

submitted 1 day ago by geneva_convenience@lemmy.ml to c/progressivepolitics@lemmy.world

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The US economy added only 50,000 jobs in December, according to the latest Bureau of Labor Statistics (BLS) figures released Friday. This brings to an end a year which saw a jobs bloodbath against the working class carried out by corporate America, with all indications that the assault will accelerate in the new year.

What is being carried out is nothing less than a social counter-revolution aimed at eliminating whatever remains of the gains of a century of class struggle. According to the latest figures, the labor share of income for the nonfarm business sector dropped sharply in the third quarter to its lowest level ever, of only 53.8 percent. In 1990 by comparison, following a decade of unprecedented plant closures and deindustrialization, it was 67.3 percent.

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[–] Bustedknuckles@lemmy.world 4 points 23 hours ago* (last edited 23 hours ago)

"Tax wealth, not work"

I used to think super rich should be taxed to a painful extent so that those resources could be used for those that need it, but I'm growing to believe that the mere existence of individuals with infinite money is bad for society.