American workers will have little to celebrate this Labor Day, according to a
new report. The study, from the liberal-leaning Economic Policy Institute, examines the
recession-recovery cycle that started in 2001 and finds that for
the first time on record, middle-class families are at or near the end of a
recovery without ever having regained the ground they lost during the recession
that preceded it. The study also said job growth has been slower and
unemployment stints longer.
“[Gross domestic product] and historically high productivity growth should
have raised paychecks up and down the income ladder, but instead, the benefits
of that growth have bypassed most of the people who made it possible,” the
institute said in a statement.
clipped from workforce.com
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