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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (262)1/11/2011 12:22:03 PM
From: John Koligman3 Recommendations  Read Replies (1) | Respond to of 119361
 
"The ability to offer lower wages is allowing many employers to start hiring again, and could ultimately make the US more prosperous."

That statement caught my eye - to me it translates more into 'make businesses more prosperous' than the workers.

Regards,
John



To: bentway who wrote (262)1/11/2011 4:00:50 PM
From: patron_anejo_por_favor7 Recommendations  Read Replies (2) | Respond to of 119361
 
>>The Wall Street Journal offers up the stories of workers who went, in one case, from a $150,000-per-year money manager job to $8.85-per-hour Starbucks barista; in another, from a managerial position to a janitorial one. Even those who manage to remain in their original industry will likely face lower earnings.
This recession has seen one of the sharpest and fastest wage declines since the Great Depression. One study shows that more than half of the workers who lost long-term, full-time jobs reported earnings loss when they returned to the workforce; 36% said they were making at least 20% less. And many may never earn their pre-recession salaries again, says one economist. The good news: The ability to offer lower wages is allowing many employers to start hiring again, and could ultimately make the US more prosperous.<<

Or as Jello Biafra once summarized it:

"You'll work harder with a gun in yer back
For a bowl of rice a day
Slave for soldiers till you starve
And your head is skewered on a stake

Now you will go
Where people are one
Now you will go
Where they get things done

What you need, my suh-uh-uhnnnnn
What you need, my suh-uh-uhnnnnn
Is a Holiday in Cambodia
Where people dress in black
It's a Holiday in Cambodia
Where you'll kiss ass or craaaaaaaaaack!

But at least we'll get "growth".....



To: bentway who wrote (262)1/11/2011 5:38:55 PM
From: benwood1 Recommendation  Read Replies (1) | Respond to of 119361
 
"...lower wages [...] make the US more prosperous"

How nice for somebody.



To: bentway who wrote (262)1/11/2011 6:21:47 PM
From: sspads  Read Replies (1) | Respond to of 119361
 
I was just noticing today how retail space that has been lingering on the market for many years in my area is filling up with pizza chains and nail salons.



To: bentway who wrote (262)1/11/2011 6:42:48 PM
From: sspads1 Recommendation  Read Replies (1) | Respond to of 119361
 
I forgot to add, to my knowledge there isn't an "economic indicator" that tracks the lost higher wage jobs in relation to lower wage new jobs. That's got to hurt.


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