US recovery 'not helping workers'

[StlMo]

US recovery "not helping workers"


Many working families still feel no benefit from the US economic recovery, the Economic Policy Institute says.

While business is improving, average wages have fallen, job satisfaction has declined and the rich-poor gap widened, says a report by the US think tank.

And in terms of recouping jobs since the start of the recession, the US is in a worse position "than any business cycle since the 1930s", it added.

...

Moreover, unemployment has actually risen 1.3 percentage points since the start of the recession in 2001, when it stood at 4.3%

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The group, a non-profit and non-partisan think tank, also said that while many would expect the improving economy to boost wages and job satisfaction, this was not happening.

In fact, it found wages were "eroding". Blue collar manufacturing and non-supervisory service workers, who account for 80% of US wages, have seen their average real hourly wage fall 1.2% over the past year.

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Figures from the bureau show that the ranks of the poor grew by 1.3 million people to 35.9 million.

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On the other hand, all current trends pointed to an economy "like the 1980s", with lower income groups squeezed, sharp increases in inequality, growing budget deficits and high unemployment.

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http://news.bbc.co.uk/2/hi/business/3629828.stm

[StlMo]

1. American workers are being screwed.

Who could have known that the return of Reaganomics would fuck over ordinary Americans?... Oh, that's right: Everyone who knows anything about economics.

[rfkrocks]

2. great points

:kick:

[htuttle]

3. A jobless recovery is like a Wish Sandwich

That's where you have two slices of bread, and you wish you had some meat.

Bow-bow-bow...