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American workers are losing the class war. Private-sector union membership is in the single digits, and hiring this quarter is the worst since 2010. The low unemployment rate is more a sign of people withdrawing from the labor force than of the jobless finding work. And while the rich continue to make money hand over fist, real hourly and weekly wages have fallen since the 1970s.

A recent Federal Reserve poll found that nearly half of Americans would have to essentially beg, borrow, or steal if faced with an unexpected $400 expense. Two out of three respondents in a recent Pew survey said they believed the next generation would be worse off financially, while a poll gauging consumer confidence finds only a quarter of respondents believe jobs are “plentiful.”