Why Austerity Economics Hurts Low-Wage Workers the Most

by Robert Reich, 12/5/12

Cross posted from RobertReich.org

"... 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..."

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Posted by Chuck Bell at 7:51 AM