A new report says the US stock market is not doing enough to drive up US wages, and is in danger of doing the opposite, making it harder for workers to get ahead.
The report, published by the US Chamber of Commerce, says US wages are not rising enough to keep up with rising inflation.
“In fact, wages for some low-wage workers have stagnated or even declined over the past decade, while the wages of those in the top 1 per cent have increased by more than 20 per cent,” said the report, which was released ahead of a Congressional hearing in Washington DC on Monday.
The report comes as President Donald Trump has taken aim at US companies for failing to raise wages.
US stocks are up more than 25 per cent in the past year and are trading around their record highs.
Last week, US President Donald J Trump and first lady Melania Trump visited a Boeing factory in Michigan, which the Trump administration said would create 1,100 new jobs.
“This factory will help our economy and make our jobs here in the US even better,” Trump said.
“We are proud to announce that the Boeing factory will be producing the next generation of aircraft engines for the new F-35 fighter jet.
While the F-22, the F/A-18, the JSF and the F16 are a major part of the American aerospace industry, the newest generation of the F35 is a new model for American military and aerospace.
For years, the US military has relied heavily on foreign countries for fighter jets, with the exception of the UK.
Earlier this year, Trump announced plans to spend $US1.2 trillion ($1.4 trillion) to replace and modernise the F15 fighter jets and the A-10 Thunderbolt II helicopter.