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Downturn's Ugly Trademark: Steep, Lasting Drop in Wages
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The longer the recession, the lower the wages on the next job and the quality of work in the next job, says Columbia University labor economist, Till von Wachter. It may take years for the wages of these workers to catch up to what they were before the recession. From 2007 to 2009, more than half the full time workers who lost jobs they had held for more than 3 years, and then found full time work by early 2010 reported wage declines, according to the Labor Department. About 36% reported the new job paid at least 20% less than the earlier job.
High unemployment and declining wages in the U.S.: 2010-2012
01/01/2010
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OECD report cites rising income inequality - The Washington Post
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No longer the land of opportunity - The Washington Post
Washington Post 01/05/2012
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Falling Wages at Factories Squeeze the Middle Class
New York Times 11/20/2014
Increasing disparities in income in major U.S. urban areas in 2009-2013
01/20/2009
High unemployment and poverty in major urban areas of the US including Washington D.C. This is especially true for those without a college education.
Grouped Articles
New York Times 06/22/2013
The Great Stagnation in American Education
New York Times 09/07/2013
Peterson and Hanushek: The Vital Link of Education and Prosperity
Wall Street Journal 09/11/2013
Wall Street Journal 10/11/2013
Patchwork of Local Wage Laws Fuels Debate Over Raising Federal Minimum
Wall Street Journal 12/01/2013
Upward Mobility Has Not Declined, Study Says
New York Times 01/23/2014
Fragility of social cohesion in the U.S. with unemployment concentrated in the lower middle and working classes.
03/11/2009
Figures from the Center of Labor Market Studies of Northeastern University in Boston showing unemployment of 9% in the $40,000 to $50,000 annual household income group and going up to 31% at the lowest income group. Higher inequality as differences in education between lower income and higher income Americans grows. The problem of the long term unemployed is a serious one.
Grouped Articles
Wall Street Journal 09/14/2011
Japan Is a Model Not a Cautionary Tale
New York Times 06/09/2013
New York Times 06/22/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
Wall Street Journal 07/22/2013
The Great Stagnation in American Education
New York Times 09/07/2013
Rising Unemployment in the U.S. in 2010.
06/06/2009
Grouped Articles
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
Labor Market Takes a Shot To the Gut
Wall Street Journal 06/05/2010
Mystery for the White House: Where did the Jobs Go?
New York Times 07/19/2010
California's Building Bust Choking Off Jobs
Wall Street Journal 07/29/2010
Job Crisis: Machines Over Manpower
BusinessWeek 07/29/2010
Wall Street Journal 08/06/2010
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