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To: RetiredNow who wrote (65604)	6/23/2004 12:17:31 PM
From: Lizzie Tudor	Respond to of 77400

Wages have INCREASED and jobs growth is on a tear. What is your source for this? I read the job market more like this: More Jobs Needed Experts say economic growth can’t be sustained indefinitely without robust job creation and rising wages. The nation has lost 2.3 million jobs since 2001. Job creation has been weaker than in any economic recovery since 1945: • Some 22% of the 9 million Americans out of work last year were unemployed for six months or longer—the highest level in 20 years. • Almost 4.5 million people worked part-time because they couldn’t find full-time work. • Layoffs were 26% higher in January 2004 than in December 2003. Job creation finally picked up last August, but mostly in lower-wage positions. And when unemployment figures fell—as they did last December, going from 5.9% to 5.7%—it was only because so many discouraged job-seekers gave up looking, according to U.S. government data. Who’s Doing Well—And Not So Well The gap between America’s highest- and lowest-paid workers, which shrank in the late 1990s, got wider last year. The salaries of lower-paid workers lost ground to inflation; the higher-paid kept pace. Meanwhile, compensation for the nation’s top earners dramatically outstripped inflation. American CEOs’ median cash bonus alone was $605,000 last year—a 26% jump over 2002. Chief executives of big companies now average more than $10 million a year in total compensation—370 times more than the pay of the average hourly worker. The median weekly salary last year was $620 (half of all workers earned more, half earned less). Adjusted for inflation, that’s slightly lower than the 2002 median wage. But many families have much less income, John Challenger says, because of the sharp decline in the number of dual-income households. archive.parade.com