US inequality and choice of the century
Jobs are coming back but wages aren’t. Every month the job numbers grow but the wage numbers go nowhere.
Most new jobs are in part-time or low-paying positions. They pay less than the jobs lost in the Great Recession.
This wageless recovery has been made all the worse because pay is less predictable than ever. Most Americans don’t know what they’ll be earning next year or even next month. Two-thirds are now living paycheck to paycheck.
So why is this called a “recovery” at all? Because, technically, the economy is growing. But almost all the gains from that growth are going to a small minority at the top.
In fact, 100 percent of the gains have gone to the best-off 10 percent. Ninety-five percent have gone to the top 1 percent. PressTV