...November’s wage growth marked the fourth time this year that wages have grown at least 0.3% in a month, and there hasn’t been a single month that recorded falling wages. That phenomenon hasn’t happened since at least 2008. Wages have remained stagnant for years for a variety of reasons. The financial crisis, and the ensuing spike in unemployment, forced many Americans to take a job–any job–to get back on their feet. Many took jobs they were overqualified for and agreed to take a pay cut just to get back into the workforce. The unemployment rate fell but wages hardly budged. But something might be changing, albeit slowly, that is causing the wage shift.*
The economy has seen a net gain of more than 6 million full-time jobs since the official end date of the 2007-09 recession, which was in June 2009. The economy has witnessed a net increase of just 311,000 part-time jobs over the same period, according to Labor Department figures**.
The increase in full-time jobs seems to be contrary to politicians saying that most new jobs are part-time.
The best places to live are in the Northeast and Midwest. The only "Southern" state to be in the top tire of the good list is Virginia if you still classify it as a Southern State.
Seven years after the credit bubble burst, just two of the 12 countries that went through systemic financial meltdowns in 2007 and 2008 have reclaimed enough ground to reach their previous peaks in per-capita GDP: the United States and Germany. And Germany isn’t looking so hot these days, given that it’s teetering on the edge of deflation.***
* http://blogs.wsj.com/economics/2014/12/05/are-wages-finally-snapping-back/
** http://blogs.wsj.com/economics/2014/12/05/november-jobs-report-how-many-new-jobs-are-actually-full-time/?mod=djemRTE_h
*** http://www.washingtonpost.com/opinions/catherine-rampell-how-the-us-economy-got-its-mojo-back/2014/12/01/6831e8e0-79a1-11e4-9a27-6fdbc612bff8_story.html?wpisrc=nl-opt
No comments:
Post a Comment