Brendan V. Duke and Ike Lee (2014). Retailer Revelations: Why America’s Struggling Middle Class Has Businesses Scared. Center for American Progress. Available at http://www.americanprogress.org/issues/economy/report/2014/10/13/98040/retailer-revelations/
This report gathers new evidence to show that middle-class weakness and stagnant wage growth are holding the economy back. We use the financial statements, known as 10-Ks—the annual report required by the Securities and Exchange Commission, or SEC—of the top 100 retailers in America and words of some of Wall Street’s top economists to underscore the point.
Link to report here.
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