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Zkribbler
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Los Angeles, CA, USA
Feb 1999 time: 21:17
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quote: Originally posted by Kidicious
Real wages should pick up again if the economy expands, but the long run trend in real wages isn't keeping up with productivity improvements. That's for sure. I would hate to think what would happen to wages if we return to the productivity growth of the 70s and 80s. |
Most of the new jobs are McJobs -- low wages, no benefits, no consumer power.
Also, unemployment numbers don't reflect the prison population (because they're not out on the streets looking for work). However, the jail population has the effect of unemployed workers -- adding nothing to the economy, but required food, clothes & housing, etc. Really, you have to double the unemployment rate to factor in these anchors on the economy. 
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