#wage
‘An economic #fairytale’: #Australia’s #inflation being driven by #company #profits and not #wages, analysis finds
#Foxconn apologizes for #wage #dispute that sparked violent protests at Chinese #iPhone #factory
source: https://www.cbsnews.com/news/foxconn-apologizes-violent-protests-apple-iphone-factory-china/
Videos shared on social media earlier this week appeared to show one particularly large demonstration involving thousands of people in #Zhengzhou, wearing masks and facing rows of #police officers wearing protective suits and holding riot shields. Police kicked and hit a protester with clubs after the person grabbed hold of a metal pole that was being used to strike him. Witnesses also said that employees at the iPhone factory were beaten and detained amid the protests.
#China #protest #Apple #economy #HumanRights #labour #work #politics #news #violence
#Amazon Hub in #Newark Is Canceled After Unions and Local Groups Object
source: https://www.nytimes.com/2022/07/07/business/economy/amazon-newark-airport-new-jersey.html
It was in part the #company’s prominence in the state that attracted opposition to the project. A report produced by groups seeking to block it pointed out that the number of Amazon facilities in #NewJersey grew to 49 from one between 2013 and 2020, helping to nearly triple the number of warehouse workers in the state, to about 70,000. Over the same period, the average #wage for those workers fell to about $44,000 per year from over $53,000 per year, adjusting for inflation, according to #Labor Department data.
#work #job #finance #economy #politics #problem #news #lobby
Late Stage #Capitalism Is Weird Capitalism
source: https://marker.medium.com/late-stage-capitalism-is-weird-capitalism-64a72040dcc7
When three index managers plan the economy on behalf of the 50% who own any shares (or, more realistically, on the 10% who own 86% of the #shares), they leave the rest of us in the cold. Braun suggests that the Big Three “should be expected to push the #economy towards the lowest sustainable #labor share.” And yeah, the rise of #wage #stagnation tracks the growth of index funds.