Blame superstar tech-firms for slow wage growth - OECD

Accuracy score :
97%

PARIS (Reuters) - Fast-growing “superstar” tech firms are taking a growing share of national income in many countries, leaving workers’ overall wage growth subdued, the Organization for Economic Cooperation and Development said on Wednesday. It said much of the productivity growth has been generated by a small of number of innovative firms that invest massively in technology but employ few workers compared to other more traditional companies. As a result, the overall share of national income going to workers, rather than investors, has declined on average in the OECD, led by the United States, Ireland, Korea and Japan. MORE: https://www.reuters.com/article/us-oecd-employment/blame-superstar-tech-firms-for-slow-wage-growth-oecd-idUSKBN1JU10F

Facts: It is hard to get a job at Apple, Google, IBM or Microsoft without an Ivy League resume. 

 

2. Not every human being has the talents to be a programmer or engineer. In fact, most females which consists of 50% of the world's population do not have much interests in programming or engineering. 

 

3. Funds not paid out to the employees usually end up in stockholder's pocket which is the bright point since stock investors (mandatory 401k) consists of both male and female investors equally without preconditions. 

 

4. Women hold 25% of the computing jobs in 2017  MORE: http://observer.com/2017/06/women-in-tech-statistics/ 

 

 

 

Analysis:  The advancement of technology has brought many conveniences and wonders to the world.  Equipping internet access and a browser to a $99 cell phone has brought the power of knowledge to almost every man and woman regardless of income status. Producing this technology has also been limited to a selected few, the jobs have also been selectively constrained. Technology has mostly been a winner takes all market, luckily most top tech companies are publicly owned allowing participation in the success. 

 

Conclusion: Own a 401k, invest in growing tech companies.