315. Depression for the poorer 20% stability for the next, and recovery for the richest.
February 17, 2010 § Leave a comment
The center stabilized around a new structure, leaving out 20% of the workforce..
“At the end of calendar year 2009, as the national economy was recovering from the recession of 2007-2009, workers in different segments of the income distribution clearly found themselves in radically different labor market conditions. A true labor market depression faced those in the bottom two deciles of the income distribution, a deep labor market recession prevailed among those in the middle of the distribution, and close to a full employment environment prevailed at the top. There was no labor market recession for America’s affluent.”