Recession hits workers’ paychecks

Source: Lawrence Mishel, Heidi Shierholz, Economic Policy Institute, Briefing Paper #277, August 31, 2010

From the summary:
Since the recession started in December 2007, a great deal of attention has been paid to the dramatic loss of jobs, decline in hiring, and the resulting high unemployment in the U.S. labor market. It is important to note, however, that the damaging effects of high unemployment are not just felt by the workers (and the families of workers) who have lost jobs. Workers who have kept their jobs or found new work during this downturn have also suffered from a broad-based collapse of wage growth over the last two years. And with unemployment expected to remain elevated for many years to come, we do not expect the suppression of wage growth to ease anytime soon.

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