Robert Reich: Corporate America is maiming the U.S. economy

[xchrom]

http://www.salon.com/2015/01/14/robert_reich_corporate_america_is_maiming_the_u_s_economy_partner/



Jobs are coming back, but pay isn’t. The median wage is still below where it was before the Great Recession. Last month, average pay actually fell.

What’s going on? It used to be that as unemployment dropped, employers had to pay more to attract or keep the workers they needed. That’s what happened when I was labor secretary in the late 1990s.

It still could happen – but the unemployment rate would have to sink far lower than it is today, probably below 4 percent.

Yet there’s reason to believe the link between falling unemployment and rising wages has been severed.

[pipoman]

1. Yeah, there's a reason befuddled bob....

Speaking of 'when you were labor secretary' bob...what could possibly have changed since then, eh? It's so befuddling, eh bob? What could it be? Couldn't have anything to do with, oh, say your term as labor secretary could it bob? Surely not....that NAFTA agreement you championed (against the wishes/will of what was it? 90% of labor?) Couldn't have anything to do with it, could it bob? .No, I know you continue to extoll the virtues of that agreement, just as I would expect of a complete traitor to US labor to do....one person who failed to do the right thing when given the opportunity and chose to be a sawn off corporate puppet....no bob, introspection may be the answer to this question you so wish to duck and bob....