What’s happened to the “Middle Class”?
According to the BLS cumulative
inflation since 1970 is 500+%!
This is a series
of Talent Stories from 2017 you may have missed.
I find much of this very disturbing, even shocking.
I find much of this very disturbing, even shocking.
What
are your thoughts??
It
now takes $641.73
to buy what $100 did in 1970, or 541.73% inflation! This is
not the Consumer Price Index (CPI) we all read about.
In my validity
check, economists agree.
Most have pegged
inflation at 10% ± since the ‘50s.
Is a 542% inflation rate shocking to see on a page?
Unfortunately, Harvard Business
Review reports wages have only
increased ± .2% per year over the same period; or, 12.5% actual for the same
period of time.
This explains much of the erosion of the middle class….
People simply can’t afford middle
class anymore!
The government
reported CPI has been a result of statistical manipulation for half a
century.
This makes inflation look acceptable and keep the CPI low, the basis for
most wage increases;
However, THIS AS A HUGE U.S. TALENT/PEOPLE (WORKER) PROBLEM‼
Corporate profits and U.S. worker productivity are at historical all-time highs.
Economic Policy Institute report’s indicate wage growth has been systematically negated! The churn created by low wages and lack of opportunity costs the U.S. $1½ - 2 Trillion (2012 dollars) per year; and,
Economic Policy Institute report’s indicate wage growth has been systematically negated! The churn created by low wages and lack of opportunity costs the U.S. $1½ - 2 Trillion (2012 dollars) per year; and,
These statistics
pertain to all but certain STEM and upper most corporate positions, not just
first line people.
This results in
more and ever increasing restriction on budgets, wages, benefits, talent
attraction and retention.
How much more profitable
could businesses become if they really questioned the current employment status
quo?
Next: Google has a solution for the lack of talent?
