By Doug Porter
Years of growing inequality have taken their toll on low-wage workers over several decades even as workplace productivity has increased. A minimum-wage income in 1968 was higher than the poverty line for a family of two adults and one child. Even into the 1980s the minimum wage was high enough to lift a single parent over the federal poverty line. Today’s minimum wage, however, is not enough for single parents to reach even the most basic threshold of adequate living standards.
The latest census figures show 46.2 million people living in poverty in the US. Companies that pay low wages leave their employees no choice but to rely on public assistance programs like food stamps, Medicare or the earned income tax credit. So, in effect, these companies are being subsidized by government.
Today CEOs in the country's S&P 500 companies make, on average, 319 times more than the average American worker. Back in the 1970s, that ratio was 30 to 1. Walmart CEO Mike Duke makes better than a thousand times more than the median worker pay at the one of his stores.
So it’s little wonder than 47% of Walmart employees are less than thrilled about their jobs. And despite a workplace environment where many employees are pitted against each other in a desperate struggle for survival, here are signs of unrest that are increasing around the country.
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