There's nothing like a huge excess supply of labor due to rampant unemployment and a shift in hiring from good-paying construction and manufacturing jobs to lower-paying social work and nursing home jobs to put a damper on employed Americans' chances of earning more money this year (in terms of buying power) than 10 years ago.
Even during the Great Depression, Americans who had jobs and kept them managed bigger real wage gains, on average, than their counterparts today. (H/t: Investor's Business Daily.)
__________
It's horrible right now. My family is taking in less money as hubby's company keeps cutting back the men's hours (thanks to Obamanomics) but the prices for all the basic necessities have skyrocketed. And as much as I'd like to be able to work nights when he's home & can watch the kids, there really aren't any jobs around here that I can do. Plus, the kids are still little enough to really need me.
ReplyDelete@Zilla - Yes indeed. To rub salt into the wounds Obama has the effrontery to take a break from the golf course to announce that the recovery isn't going "as fast as he'd like."
ReplyDeleteGeesh!