American workers are receiving the smallest share of economic output on record at 52.8%, the lowest level since the Bureau of Labor Statistics began tracking the metric in 1947. At Amazon, the country’s largest employer by revenue, the number of workers on food stamps has nearly tripled to 12,346, with 11,338 relying on Medicaid, even as the company’s profits surged from $11.6 billion to $77.7 billion over the same period. The S&P 500 has gained 600% since the beginning of the century, while real wages have increased only 12.5% over that same timeframe. This trend is driven by the shrinking labor share of U.S. GDP, which fell from 66.6% in 1982 to 61.9% today, due to job precaritization, subcontracting practices, and artificial intelligence.
Source: Read the original article
