Sunday, August 28, 2016

Share the wealth comrade capitalist


"The 2000s witnessed an unprecedented drop
in the labor share of income.


  the stagnation of wages,
 rather than accelerated labor productivity,
 has been behind the drop in the labor share from 2000 onward. "


A longer view
Back to 1987 



" manufacturing..... dropped almost 10 percentage points. 
Virtually all the major manufacturing subsectors saw their labor shares fall; 
for nondurable goods manufacturing it dropped from 62 percent to 40 percent. 


The labor share within the service sector kept increasing, as it had before 1987, 
but very modestly, only enough to cancel the downward pressure 
from the shift across sectors. Indeed, had the labor share of income
in manufacturing stayed constant, the overall labor share would have barely budged. "
Old-Age, Survivors, and Disability Insurance Trust Funds, 1957-2015
[In millions]
Asset Reserves a
Calendar
year
Total
receipts
Total
expenditures a
Net increase
during year
Asset Reserves at
end of year
1957$8,090$7,567$523$23,042
19589,1088,90720123,243
19599,51610,793-1,27721,966
196012,44511,79864722,613
196112,93713,388-45122,162
196213,69915,156-1,45720,705
196316,22716,2171020,715
196417,47617,02045621,172
196517,85719,187-1,33119,841
196623,38120,9132,46722,308
196726,41322,4713,94226,250
196828,49326,0152,47928,729
196933,34627,8925,45334,182
197036,99333,1083,88638,068
197140,90838,5422,36640,434
197245,62243,2812,34142,775
197354,78753,1481,63944,414
197462,06660,5931,47245,886
197567,64069,184-1,54444,342
197675,03478,242-3,20941,133
197781,98287,254-5,27235,861
197891,90396,018-4,11531,746
1979105,864107,320-1,45630,291
1980119,712123,550-3,83826,453
1981142,438144,352-1,91424,539
1982147,913160,11123924,778
1983171,266171,1778924,867
1984186,637180,4296,20831,075
1985203,540190,62811,08842,163
1986216,833201,5224,69846,861
1987231,039209,09321,94668,807
1988263,469222,51440,955109,762
1989289,448236,24253,206162,968
1990315,443253,13562,309225,277
1991329,676274,20555,471280,747
1992342,591291,86550,726331,473
1993355,578308,76646,812378,285
1994381,111323,01158,100436,385
1995399,497339,81559,683496,068
1996424,451353,56970,883566,950
1997457,668369,10888,560655,510
1998489,204382,255106,950762,460
1999526,582392,908133,673896,133
2000568,433415,121153,3121,049,445
2001602,003438,916163,0881,212,533
2002627,085461,653165,4321,377,965
2003631,886479,086152,7991,530,764
2004657,718501,643156,0751,686,839
2005701,758529,938171,8211,858,660
2006744,873555,421189,4522,048,112
2007784,889594,501190,3882,238,500
2008805,302625,143180,1592,418,658
2009807,490685,801121,6892,540,348
2010781,128712,52668,6022,608,950
2011805,057736,08368,9752,677,925
2012840,190785,78154,4092,732,334
2013855,021822,92532,0962,764,431
2014884,276859,23025,0462,789,476
2015920,157897,12323,0342,812,510
a Beginning in 1979, benefit payments scheduled to be paid on January 3 of a given year were paid on December 31 of the preceding year as required by the statutory provision included in the 1977 Social Security Amendments for early delivery of benefit payments when the normal payment delivery date is a Saturday, Sunday, or legal public holiday. Such advance payments have occurred about every 7 years, first for benefits scheduled for January 3, 1982. For comparability with other historical years, all trust fund operations and asset reserves reflect the 12 months of benefits scheduled for payment in each year.