Detroit automakers raked in $250 billion as wages stagnated over the last decade, but the media frets about strikes.
Wages are a major factor in the UAW negotiations, with autoworkers demandingin pay after years of sluggish wage growth and outsourcing in the auto sector. Sanders said autoworker wages start at just $17 an hour and top out at $32, less than they earned 15 years ago when adjusted for inflation. However, the corporate media seem to ignore such crucial context, Sanders said.
From 2013 to 2022, profits for Big 3 automakers skyrocketed by 92 percent to the tune of $250 billion, according to number crunchers at the pro-labor Economic Policy Institute . Another $32 billion in profits across the three companies is forecast for 2023. CEO pay increased by 40 percent over the last decade, and the three companies paid out nearly $66 billion in shareholder dividend payments and stock buybacks to investors.
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