Labor share index for 3rd Q 2014 was adjusted from 97.3 down to 96.2. That is a big adjustment.
What does it mean? Firms took money from labor to show better profits. Capital income was supported.
There have been drops like this before. Then labor share rises again back to its trend.
My view is that capital is against the wall. They are hiring lots more workers to raise profit rates. They are trying to be price competitive. They are keeping labor share down.
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