The Big Story Blog

Corporate profits, jobs and the Occupy MN protest

Posted at 11:26 AM on October 11, 2011 by Paul Tosto

Banks will be the next local protest target with a march happening now in Minneapolis.

Corporate profits have been one target of the protests here and across the country. Wells Fargo, one of today's Minnesota protest targets, earned a record second quarter profit this year. It got us thinking about the state of corporate profits generally. Do the protesters have a point?

Corporate profits have rebounded in the recession, though the rebound is slowing.

Here's a chart from the Federal Reserve Bank of St. Louis showing corporate profits since 1990.

corpprofits.jpg

And here's a chart showing total non-farm U.S. employment in the same period.

totalemploy.jpg

So whether you like the protesters and their tactics, there's evidence that at this point in the recovery corporate profits have recovered faster than jobs have returned.

What should be done about that is another question.

In Washington tonight, the Senate will vote on President Obama's jobs bill, though it's widely expected to die there in a procedural vote.

Passed #usbank hundreds in the streets, banks got bailed out we got sold out! #mnfaireconomy
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About Paul Tosto

Paul Tosto

Paul Tosto writes the Big Story Blog for MPR News. He joined the newsroom in 2008 after more than 20 years reporting on education, politics and the economy for news wires and newspapers across the country.