US Labor Share Hits Record Low as Corporations Reap Billions

The U.S. labor share has reached an all-time low of 52.8%, with working Americans taking home the smallest percentage of economic output since 1947.

Corporate profits have exploded, with the S&P 500 index gaining 600% since the beginning of the century, while wages have increased just 12.5% over the same period, adjusted for inflation.

A recent Government Accountability Office (GAO) report found that Amazon has nearly tripled its number of workers on federal assistance programs, with 12,346 employees on SNAP and 11,338 relying on Medicaid.