Wages have fallen lower and stayed low longer in this recession than in any time since the Depression. With unemployment at 9 percent or better for 20 months and likely to stay that way for a while, wages will continue to drop.
In a bitter battle late last year, Republicans in Congress filibustered an extension of the emergency unemployment insurance (UI) program for more than 1.4 million long-term jobless workers—and they didn’t approve the bill until they won an extension of Bush tax cuts for the rich.
The new year started with better but not great news on the jobs front. The latest figures from the U.S. Department of Labor released this morning show that unemployment dropped from 9.8 percent in November to 9.4 percent in December.
Last fall, the Alliance for American Manufacturing (AAM) conducted a 12-city “Keep it Made in America” town hall tour that brought candidates and voters together to talk about the tough issues revolving around reviving American manufacturing, lowering unemployment and getting the U.S. economy back on track.