The new numbers are out and the business press is celebrating:
U.S. economic growth last quarter was stronger than initially thought and corporate profits rose, signs of continued health in the world’s largest economy.
Corporate profits are, indeed, up 6.6 percent from the previous quarter. In fact, as readers can see from the blue line in the chart above, U.S. corporate profits have increased by over 65 percent since the recovery from the Great Recession began.
And workers? Their situation is anything but healthy. Average hourly earnings for production and nonsupervisory employees (the red line in the chart) have increased by only 16 percent since the recovery began.
Is it any wonder that one Party of Business, which focused on the rigged game and promised to drain the swamp, beat out the other Party of Business, which called for a continuation of business as usual?