Wednesday, June 01, 2011

Recession Continues For American Workers

Investor's Business Daily points out that this is the second anniversary of the U.S. recovery, and also points out that it has been extremely feeble with barely any job growth and falling real wages.

But as it happens the situation is even worse than the editorial says, because if you relate job growth to population growth (which you should)you can see that, in April this year (the latest month available until Friday), the employment to population ratio was 58.4%, compared to 59.4% in June 2009, the first month of the supposed recovery.

Meanwhile, real weekly earnings for those that have jobs are 0.5% lower than 2 years ago.

For American workers, there haven't thus been any recovery at all. For them, the recession has in fact continued.


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