*By Michael Teich*
Corporate shareholders may [benefit](https://money.cnn.com/2018/02/16/investing/stock-buybacks-tax-law-bonuses/index.html) from tax cuts, but American workers aren't really profiting, said Mark Hamrick, senior economic analyst at Bankrate.
"It's globalization, the ability of employers to [replace labor](https://cheddar.com/videos/selerity-exec-a-i-in-finance-will-shift-from-consumers-to-workers) with technology," Hamrick said Friday in an interview with Cheddar. "Workers are not getting the bulk of these tax cuts. Workers have perhaps some appropriate reason to be a bit disappointed."
The Labor Department reported Friday that the unemployment rate in the U.S. dropped to 3.9 percent. But as unemployment falls, inflation is rising, and companies are squeamish about tariffs.
"Inflation has been running at an annual rate of about 2 percent, meaning that real wages are making little progress," Hamrick said.
Though average hourly earnings rose 2.7 percent for the second straight month, when inflation's factored in, workers are taking home less than a percent more in earnings.
Now is the time, Hamrick said, to save for retirement and emergencies.
The U.S. economy added 157,000 jobs in July, missing estimates of 193,000 but marking the 94th consecutive month of growth.
For more on this story, [click here](https://cheddar.com/videos/the-reason-youre-not-getting-a-raise).
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
