Higher corporate profits do not mean higher wages.
A lot of people make this leap, but it is not so simple.
Just because corporate earnings are up, it does not mean that average workers’ earnings are up.
Offshore outsourcing, shuffling jobs to lower cost / tax states, and deceptive CPI data all mean that pressure on real wages is downwards. One simple example of thousands:
I don’t know the numbers about “at risk” local employment in the real estate, construction, and mortgage finance-related industries, but I expect that it will have significantly more impact than possibly stable local employment at Qualcomm.
