Hourly Pay in U.S. Not Keeping Pace With Price Rises
Friday, July 16, 2004 at 12:27PM
TheSpook
The amount of money workers receive in their
paychecks is failing to keep up with inflation. Though wages should
recover if businesses continue to hire, three years of job losses have
left a large worker surplus. "There's too much slack in the labor
market to generate any pressure on wage growth,'' said Jared Bernstein,
an economist at the Economic Policy Institute, a liberal research
institution based in Washington. "We are going to need a much lower
unemployment rate.'' [more]
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