Are certain people paid too much? (Guest commentary)

Widespread resentment about compensation may be accelerating ‘race to the bottom’
By Brian Kreissl
|Canadian HR Reporter|Last Updated: 12/16/2013

There’s no question we’re losing a lot of well-paid, middle class jobs in North America. Some say we might be witnessing the beginning of a new “gilded age” — characterized by both fabulous wealth and grinding poverty, with relatively few people in between.

Several different phenomena are contributing to the hollowing out of the middle class, including the loss of well-paid manufacturing jobs, declining unionization rates, automation, outsourcing, offshoring, austerity measures, high rates of unemployment and underemployment, changes in taxation rates, cuts to social programs, increased education costs and anger over public sector pay and organizations that received government bailouts.

This is all leading to stagnating middle class incomes, as the income of the top one per cent continues to increase and more people join the ranks of low-income workers. Young people in particular seem to have a difficult time securing meaningful work.