Is There a Wage Increase for the Middle Class?

For decades, the annual incomes of the middle class have remained virtually the same.  Experts say the decline of organized labor, changing from a manufacturing based economy to a service based and the transformation to a more globalized economy has contributed to the cause.  “For the average worker in this country, there is a sense of despair, there is a sense of hopelessness and growing anger because they’re now seeing that corporate profits are hitting record levels again, corporations have extraordinary savings, and that CEO’s always manage to pay themselves more,” said Stephen Lerner, director of banking and financial reform for the 2.2-million-member Service Employees International Union.”And people are saying something’s fundamentally broken here.” With growing economic uncertainty and unemployment on the rise, American’s future seems bleak.

Short URL: http://newsplethora.org/?p=2453

Posted by newsplet on Aug 10 2010. Filed under Business, Featured News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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