Labor Day Parade or March in Protest

Labor Day, the first Monday in September, is dedicated to the social and economic achievements of the American worker. It was adopted as a national holiday in 1894 by President Grover Cleveland.

Now Labor Day is seen as the official end of summer rather than the recognition of accomplishments by the American labor movement. So how are American laborers doing this Labor Day?

There are 25 million unemployed or underemployed American workers while corporations continue to cut wages and benefits. The median wage adjusted for inflation has continued to decline. Employers love the bargaining power over employees to squeeze ever more concessions.

Private sector wage gains, adjusted for inflation, over the last decade have fallen behind wage gains during the decade of the Great Depression from 1929 to1939 (US Commerce Department). CEO pay continues to soar. According to The Wall Street Journal bonuses and long-term incentive awards for CEO’s at 350 big American companies have increased by 11%, yearly bonuses have increased by 19.7%. This does not include stock options that CEO’s were granted in 2008 and 2009 and then offset during the recent stock collapse to reap huge profits.

The American economy has all but stopped growing, because workers whose jobs and wages are under attack by a President who cannot stand up to the labor bashing Republicans and the in-your-face Republican governors of several of our neighboring states. See Indiana and Wisconsin, for example.

The labor bashing policies that have found their way into Washington have come home to roost at the local level too. Budget cuts, reduced tax revenue, low business demand all result from a lack of spending by people not working or not earning enough to spend beyond their subsistence.

The parade this year should be a march in protest by American workers instead. They are getting the worst deal since at least the Great Depression and possibly since President Cleveland made it a national holiday. Workers are truly suffering and our economy is as well.