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Workers’ Share of Economic Pie Isn’t Growing
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wsj.comThe tight labor market has made it easier for workers to find jobs and to earn raises. But by the broadest possible measure, this increased leverage hasn’t translated into a change in the relative positions of employees and employers.
The labor share of national output is roughly where it was before the pandemic. In other words, American workers are getting no more of the economic pie than before the pandemic, despite the higher wages employers now pay in response to a labor shortage.
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