Saturday, December 8, 2012

Why Austerity Economics Hurts Low-Wage Workers the Most

by Robert Reich, 12/5/12

Cross posted from

"... What does the drama in Washington over the “fiscal cliff” have to do with strikes and work stoppages among America’s lowest-paid workers at Walmart, McDonald’s, Burger King, and Domino’s Pizza?"

"Everything.  Jobs are slowly returning to America, but most of them pay lousy wages and low if non-existent benefits.  The Bureau of Labor Statistics estimates that seven out of 10 growth occupations over the next decade will be low-wage — like serving customers at big-box retailers and fast-food chains."

"That’s why the median wage keeps dropping, especially for the 80 percent of the workforce that’s paid by the hour..."

 Read rest of article

See Robert Reich's Slideshow for his new book, Beyond Outrage

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