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BLITZEN

Articles Posted: 0  Links Seeded: 350
Member Since: 2/2007  Last Seen: 1/28/2012

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Aughts were a lost decade for U.S. economy, workers

Seeded on Sat Jan 2, 2010 11:24 AM EST
Read ArticleArticle Source: The Washington Post
business, us, money, economy, finance, america, job, income, workers, middle-class, decade, 2000s, net-loss, zero-growth, aughts
Seeded by Blitzen
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There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well.

Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s

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Blitzen

The first decade of the new century was an experiment in what happens when an economy comes to rely heavily on borrowed money.

    Reply#1 - Sat Jan 2, 2010 11:25 AM EST
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