Where are My Wages?

Over the six quarters ’09Q2 through ’10Q4 corporate profits captured 88% ($464 billion) of the growth in real national income ($528 billion) while wages and salaries accounted for slightly more than 1% of the growth ($7 billion). Through ’11Q1 corporate profits were 92% of growth and wages and salaries actually fell by $22 billion! The next best corporate recovery was 01Q4 through 03Q2 when corporate profits accounted for 53%, and wages and salaries, just 15%.