April 16, 2015

The Benefits of Collective Bargaining: An Antidote to Wage Decline and Inequality | Economic Policy Institute

The Benefits of Collective Bargaining: An Antidote to Wage Decline and Inequality | Economic Policy Institute

"Wages have been stagnant for a generation despite sizable increases in overall productivity, incomes, and wealth. For instance, our nation’s output of goods and services per hour worked (productivity, net of depreciation) grew 64 percent from 1979 to 2014, while the inflation-adjusted hourly wage of the typical worker rose by just 6 percent.1 The single largest factor suppressing wage growth for middle-wage workers has been the erosion of collective bargaining."