A Happy Labor Day—Really

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(Photo: AP/Lynne Sladky)
Protesters, part of the national Fight for 15 movement, applaud in support of raising the minimum wage to $15 an hour at a church in Miami in April.

Harold Meyerson. The American Prospect

Labor Day is upon us, marking an end to summertime, when the livin’ is easy and Americans take their well-earned vacations. Well, some Americans. About 56 percent of American workers took weeklong vacations last summer—a new low-point in a steady decline that began in early 1980s, when more than 80 percent took weeklong vacations.

That depressing bit of news is of a piece, alas, with everything else we know about the declining fortunes of American workers. As the Economic Policy Institute documented in report released Wednesday, productivity rose by 72.2 percent and median hourly compensation (that’s wages plus benefits) by just 8.7 percent between 1973 and 2014. As the National Employment Law Project reported in a study released the following day, real median hourly wages declined by 4 percent from 2009 to 2014. Continue reading