...The workers benefited, and so did lower-wage retailers such as Walmart: When its staffers left for better-paying jobs, they could spend more at its stores. And the U.S. economy gained, too, because more consumer spending fueled growth. Not so much anymore. Since the Great Recession began in late 2007, that path has narrowed because many of the next-tier jobs no longer exist. That means more lower-wage workers have to stay put. The resulting bottleneck is helping widen a gap between the richest Americans and everyone else. Some people took those jobs because they were the only ones available and havent been able to figure out how to move out of that, Bill Simon, CEO of Wal-Mart U.S., acknowledged in an interview with the Associated Press....
Posted on: Fri, 14 Mar 2014 14:49:31 +0000
Trending Topics
Recently Viewed Topics
© 2015