While the biggest losses were higher-wage jobs paying an average of $19.05 to $31.40 an hour, the biggest gains have been lower-wage jobs paying an average of $9.03 to $12.91 an hour.
In other words, the big news isn't jobs. It's wages.
At this rate, the unemployment rate will continue to decline. But so will the pay and benefits of most Americans.
Read more: http://www.benzinga.com/11/03/905988/march-unemployment-report-wheres-the-dough#ixzz1FspaJudj
This has got to be the phoniest recovery I've seen, and I've seen several now! In a real recovery, in anticipation of higher demand, companies would begin hiring more staff in order to keep up with the demand and their competition. In this so-called recovery, companies are simply forcing their existing staff to work longer and harder, for the same or less pay (do more with less), while companies continue to hoard money in record amounts. And since each company is aware of what the other is doing, they seem to be in agreement that this is the approach they will all adopt. I would not be surprised if there's collusion going on.
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Join date : 2011-02-24
Age : 57
Location : New Jersey
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