“The only major beneficiaries of the recovery have been corporate profits and the stock market and its shareholders.”
That's the conclusion of a new report from the Center for Labor Market Studies at Northeastern University titled The “Jobless and Wageless” Recovery from the Great Recession of 2007-2009.
The short version: American workers took it in the chops. And that's still happening because the so-called recovery has produced very uneven results compared with previous postwar recessions. Not only has the increase in jobs come at a dribble, wages haven't moved.
Jobless, wageless 'recovery' sure ain't profitless