Corporate profits hit record as wages get squeezed

December 3, 2012 by legitgov

Corporate profits hit record as wages get squeezed 03 Dec 2012 Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever. In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week's gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history. But the record profits come at the same time that workers' wages have fallen to their lowest-ever share of GDP.