The Downward Pressure Inflation Trend Continues

The share of income earned by the top 10% of households rose from 34.6% in 1980 to 50% in 2019. The percentage of workers represented by unions fell from 23.3% in 1983 to 11.6%. Not coincidentally, strike activity is also declined. Strikes involving more than 1,000 workers exceeded 200 every year from 1964 to 1979. Since 2019, there were just 25 major strikes.