Friday, August 15, 2014

The Good News is Jobs have been Added Post-Recession .. The Bad News is ...

Pay is 23% LESS THAN in 2008:
Jobs gained following the U.S. recession pay 23 percent less than those lost as a result of the 18-month slump that ended in June 2009, a report by the U.S. Conference of Mayors finds.
CLICK HERE to read the Report
The average wage of the positions recovered through the second quarter of 2014 was $47,171 per year compared with $61,637 for those lost in 2008 through 2009, according to the report. The loss is almost twice as large as the one following the 2001 recession, according to the study prepared by IHS Global Insight, and represents $93 billion in foregone wages.
“While the economy is picking up steam, income inequality and wage gaps are an alarming trend that must be addressed,” Kevin Johnson, mayor of Sacramento, California, and president of the group, said in the report released today.
Read the rest of the story HERE.

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