USA TODAY: …Typically in a recovery, raises in a few industries lead to raises in others as workers become confident enough to quit one job for another for more pay.
This time, the subpar recovery has slowed pay gains.
Technology has played a role, too. It’s lifted pay for people who work, for example, with programs that sift data from your mobile devices so companies can pitch products matched to your interests. Yet workers in industries upended by the Internet, such as retailers left behind by e-commerce, have been hurt… (more)
EDITOR: We virtually every respectable economist have called for fiscal stimulus since 2009, the long established way to deal with recessions and depression. Obstruction from Republicans strangled growth. Attempts by the Federal Reserve to compensate with monetary policy has largely led to a run up in the stock market, money chasing safe return rather than being invested in growth and jobs.
A growing economy can rapidly pay down debt. Also people at work aren’t drawing unemployment compensation and living on food stamps.
We have been saying this since 2009.
We know. We sound like a broken record. There is no solace in being correct while watching much of the country suffering due to opportunists and damn fools./em>
