Larry Cohen, Communications Workers of America
Presentation summary
- Wages and compensation are not keeping pace with productivity growth
- Since mid 1970s, productivity steadily increasing while average hourly compensation and wage are flat
- Growing inequality in US
- Increase in share of income for top 1% in US
- One of many reasons of growing income inequality: elimination of bargaining rights in the US
- Declining bargaining coverage trend in US accelerated past 40 years
- Unionized workers, through collective bargaining, are able to gain a greater share of productivity in the forms of higher wages and benefits
- US collective bargaining coverage lagging behind its global competitors
- Need to invest in the fundamentals – US infrastructure and people
- For example: invest in broadband, manufacturing, clean energy and reform US trade agreements to create fair playing field for US workers
- Restore collective bargaining rights
- Need demand-driven path to recovery and long-term growth based in broad-based distribution of nation’s prosperity