Tuesday, July 10, 2018

David F. Ruccio — I ran out of words to describe how bad the recovery numbers are

Workers’ wages have been stagnant for the past decade across the 36 countries that make up the Organisation for Economic Cooperation and Development. But the problem has been particularly acute in the United States, where the “low-income rate” is high (only surpassed by two countries, Greece and Spain) and “income inequality” even worse (following only Israel).
The causes are clear: workers suffer when many of the new jobs they’re forced to have the freedom to take are on the low end of the wage scale, unemployed and at-risk workers are getting very little support from the government, and employed workers are impeded by a weak collective-bargaining system.
That’s exactly what we’ve seen in the United State ever since the crisis broke out—which has continued during the entire recovery.…
"It's the distribution, stupid."

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I ran out of words to describe how bad the recovery numbers are
David F. Ruccio | Professor of Economics, University of Notre Dame

1 comment:

Matt Franko said...

First they think “we’re out of money!” which I could understand of them not being trained adequately in science... but now “out of words!”... pretty bad...