{"id":4562,"date":"2019-04-27T22:14:46","date_gmt":"2019-04-27T22:14:46","guid":{"rendered":"https:\/\/www.novonon.com\/blog\/2019\/04\/27\/almost-80-of-us-workers-live-from-paycheck-to-paycheck-heres-why-robert-reich-opinion-the-guardian\/"},"modified":"2019-04-27T22:14:46","modified_gmt":"2019-04-27T22:14:46","slug":"almost-80-of-us-workers-live-from-paycheck-to-paycheck-heres-why-robert-reich-opinion-the-guardian","status":"publish","type":"post","link":"https:\/\/www.novonon.com\/blog\/2019\/04\/27\/almost-80-of-us-workers-live-from-paycheck-to-paycheck-heres-why-robert-reich-opinion-the-guardian\/","title":{"rendered":"Almost 80% of US workers live from paycheck to paycheck. Here’s why | Robert Reich | Opinion | The Guardian"},"content":{"rendered":"

<\/p>\n

<\/p>\n

This analysis seems extremely plausible to me.<\/p>\n

\n

Not even the current low rate of unemployment is forcing employers to raise wages. Contrast this with the late 1990s, the last time unemployment dipped close to where it is today, when the portion of national income going into wages was <\/span>3% points higher than it is today<\/a>.<\/p>\n

What\u2019s going on? Simply put, the vast majority of American workers have lost just about all their bargaining power. The erosion of that bargaining power is one of the biggest economic stories of the past four decades, yet it\u2019s less about supply and demand than about institutions and politics.<\/p>\n

Two fundamental forces have changed the structure of the <\/span>US economy<\/a>, directly altering the balance of power between business and labor. The first is the increasing difficulty for workers of joining together in trade unions. The second is the growing ease by which corporations can join together in oligopolies or to form monopolies.<\/p>\n<\/blockquote>\n

https:\/\/www.theguardian.com\/commentisfree\/2018\/jul\/29\/us-economy-workers-paycheck-robert-reich<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This analysis seems extremely plausible to me. Not even the current low rate of unemployment is forcing employers to raise wages. Contrast this with the late 1990s, the last time unemployment dipped close to where it is today, when the portion of national income going into wages was 3% points higher than it is today. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-4562","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p3pfIY-1bA","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/4562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/comments?post=4562"}],"version-history":[{"count":0,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/4562\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/media?parent=4562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/categories?post=4562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/tags?post=4562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}