Tuesday, August 12, 2014

The declines in household wealth and...

...personal income are to blame, I think, for the erosion in President Obama's popularity. (I've said so here and here.)  A new study gets a little more granular on the change in wages (my emphasis):

Jobs gained during the economic recovery from the Great Recession pay an average 23% less than the jobs lost during the recession according to a new report released today by The U.S. Conference of Mayors (USCM) under the leadership of President Sacramento Mayor Kevin Johnson. The annual wage in sectors where jobs were lost during the downturn was $61,637, but new jobs gained through the second quarter of 2014 showed average wages of only $47,171. This wage gap represents $93 billion in lost wages.

Who wouldn't be unhappy with the president given those numbers?

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