Wall Street bankers make too much money -- on that the American public may be in near-unanimous agreement. But what about your own compensation? Can you justify it in this still-struggling economy? One inevitable effect of this recession's massive job losses and plunge in consumer and business spending has been downward pressure on the wages and benefits of many of those who still are working. That pressure has been evident for the last 18 months or so, of course, as the unemployment rate has climbed relentlessly. Now, with the economic downturn seemingly over as measured by the classic gauge of gross domestic product growth, the question is whether workers' piece of the economic pie will begin to grow again. .... Yet the magnitude of job losses here and abroad in this devastating recession poses a huge risk to the future compensation of the still-employed: What if, for years to come, there are masses of qualified people willing to do what you do -- but for much less pay?
One inevitable effect of this recession's massive job losses and plunge in consumer and business spending has been downward pressure on the wages and benefits of many of those who still are working. That pressure has been evident for the last 18 months or so, of course, as the unemployment rate has climbed relentlessly.
Now, with the economic downturn seemingly over as measured by the classic gauge of gross domestic product growth, the question is whether workers' piece of the economic pie will begin to grow again.
....
Yet the magnitude of job losses here and abroad in this devastating recession poses a huge risk to the future compensation of the still-employed: What if, for years to come, there are masses of qualified people willing to do what you do -- but for much less pay?
whether workers' piece of the economic pie will begin to grow again
Again?
