This may be old news but it seems to enduring — a recovery devoid of job and income growth. Take a read of the article in yesterday’s New York Times titled Still On the Job, but Making Only Half as Much. This has been a theme of ours for some time — the once-retired boomer population is now coming back into the labour market and at a lower wage than when he/she left. Weekly pay for production workers has now fallen nine months in a row — a string unheard of in the 44-year old data series. The old record was a two-month decline in the 1980-81 recession.
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