Categories
Antiwork

Something we already know: Total US Wages to Total US Net Profit has decreased by 2.5X over the past 50 years

Just your friendly reminder that stats don't lie: ​ Year Total US Wages Total US Profits Wages:Profit Ratio 1970 434.3B 47.9B 9.1 2021 8.75T 2.3T 3.74 Source: bea.gov This basically means that workers overall were paid about 9X profit in 1970. ($9 of wages for every $1 profit) 2021 saw that decrease to 3.74X. ($3.74 of wages for every $1 profit) This does not even account for the fact that there are more than twice as many workers in 2021 as compared to 1970. If the wage:profit ratio returned to 1970's ratio, every worker would, on average, earn about $10,000 more per year (more for full time, less for part time).


Just your friendly reminder that stats don't lie:

Year Total US Wages Total US Profits Wages:Profit Ratio
1970 434.3B 47.9B 9.1
2021 8.75T 2.3T 3.74

Source: bea.gov

This basically means that workers overall were paid about 9X profit in 1970. ($9 of wages for every $1 profit)

2021 saw that decrease to 3.74X. ($3.74 of wages for every $1 profit)

This does not even account for the fact that there are more than twice as many workers in 2021 as compared to 1970.

If the wage:profit ratio returned to 1970's ratio, every worker would, on average, earn about $10,000 more per year (more for full time, less for part time).

Leave a Reply

Your email address will not be published. Required fields are marked *