"The softening of the job market has taken a major bite out of wage growth," Bernstein said.
+ View Archives
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.
20,000 jobs were lost in April, according to a government report; however, this loss was less severe than some economists had expected. Among the industries hit hardest by the job cuts were manufacturing and construction, which together lost almost 110,000 jobs in April. What's more, employees appear to be working less and earning less. According to Jared Bernstein from the Economics Policy Institute in Washington, "Recessions in the job market don't just hurt people who get laid off; they hurt incumbent workers by taking a big bite out of their hours and wages."
"The softening of the job market has taken a major bite out of wage growth," Bernstein said.
+ View Archives
If this article has helped you in some way, will you say thanks by sharing it through a share,
like, a
link, or an
email to someone you think would appreciate the reference.
"The softening of the job market has taken a major bite out of wage growth," Bernstein said.
+ View Archives
