While investors are celebrating brighter prospects, the news from the hinterlands continues in a much darker vein. The Wall Street Journal reports that wages for a broad swath of the labor force have taken a “sharp and swift” fall to an extent rarely seen since the Great Depression. Between 2007 and 2009 more than half of workers who lost jobs and then found new ones reported wage declines, with more than a third of them reporting declines of 20 percent or more. Experts say it will be years, if ever, before their wages return to pre-recession levels.
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