The Third International after Lenin

Sunday, July 3, 2011

Jobless, wageless 'recovery' sure ain't profitless

“The only major beneficiaries of the recovery have been corporate profits and the stock market and its shareholders.”

That's the conclusion of a new report from the Center for Labor Market Studies at Northeastern University titled The “Jobless and Wageless” Recovery from the Great Recession of 2007-2009.

The short version: American workers took it in the chops. And that's still happening because the so-called recovery has produced very uneven results compared with previous postwar recessions. Not only has the increase in jobs come at a dribble, wages haven't moved.

Jobless, wageless 'recovery' sure ain't profitless

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