Alternative Visions- Labor Day 2024: The Condition of America’s Working Class

Alternative Visions

today’s show focuses on the condition of the US working class in terms of wages, jobs, debt, and unions as of labor day 2024 today. Citing various US government data sources, and contrary to the selective cherry picked stats that appear in the US mainstream media and cited by politicians, the picture for US workers today in terms of wages, jobs, debt and their unions show continued stagnation or decline over the past year, and especially since 2020. Even based on US government data sources, US economic GDP since 2021 has been weak given the $10 trillion plus fiscal-monetary stimulus since 2020. Workers’ wages continue to contract in real terms given the period of inflation. The jobs created have been far less than the Biden administration has claimed. And US unions continue to tread water in terms of membership. (For a published print version of this analysis, those interested may read the same analysis at my personal blog at https://jackrasmus.com/2024/09/02/labor-day-2024-the-condition-of-the-american-working-class-today/