Monday, September 05, 2011

Chart of the Week: Labor Day Blues

Of course this being the Labor Day holiday, a chart on the status of labor in America is offered for you consideration:
Readers have seen this chart before, but it is not getting any less ugly. This second Great Depression is worse by far than any previous postwar recession, and the jobs lost are not being replaced for the simple reason it is more profitable to do the same amount of production with fewer workers as this chart clearly shows:
Corporate profits hit a record $1.450 billion this quarter, and was achieved with fewer workers than ever before at a profit level of $15,278.72 per worker, up 22.3% from last year. So not only are the plutocrats issuing you pink slips, they are killing you with more pollution they do not want to prevent or clean up.  How do you spell extortion?