Before revision: He cites "Seven Deadly Trends" that began in the 1970s-1980s and by the mid 2010s appeared set to continue: Stagnation in real wages U.S. productivity and average real earnings, 1947 – 2008 Decline in labor's share of national income in many countries (breakdown of Bowley's law), while corporate profits increased Declining labor force participation Diminishing job creation, lengthening jobless recoveries, and soaring long-term unemployment Rising inequality Declining incomes, and underemployment for recent college graduates Polarization and part-time jobs (middle-class jobs are disappearing, to be replaced by a small number of high-paying jobs and large number of low-paying jobs) According to Ford, the 1960s were part of what in retrospect seems like a golden age for labor in the United States, when productivity and wages rose together in near lockstep, and unemployment was low.
After revision: He cites "Seven Deadly Trends" that began in the 1970s-1980s and by the mid 2010s appeared set to continue: Stagnation in real wages Productivity and Compensation Growth in the United States, 1948 – 2016 Decline in labor's share of national income in many countries (breakdown of Bowley's law), while corporate profits increased Declining labor force participation Diminishing job creation, lengthening jobless recoveries, and soaring long-term unemployment Rising inequality Declining incomes, and underemployment for recent college graduates Polarization and part-time jobs (middle-class jobs are disappearing, to be replaced by a small number of high-paying jobs and large number of low-paying jobs) According to Ford, the 1960s were part of what in retrospect seems like a golden age for labor in the United States, when productivity and wages rose together in near lockstep, and unemployment was low.