Gone are days of raisea above jest few percent….
Corporate types are moving to replace their labor cosrts with machines….
That tax cut that was suppoosted to stimulate hiring?
Very few Americans have enjoyed steadily rising pay beyond inflation over the last couple of decades, a shift from prior years in which the working and middle classes enjoyed broad-based wage gains as the economy expanded.
Why it matters: Now, executives of big U.S. companies suggest that the days of most people getting a pay raise are over, and that they also plan to reduce their work forces further.