The good news: job growth continues, and if it continues at this pace should fully recover within about two years.
The bad news: job growth is happening in jobs that pay poorly, and those jobs are experiencing wage deflation.
“there were now 2.3 million more of the lowest-paying jobs, 700,000 fewer middle-income positions and more than a half million fewer higher-paying jobs.” – Salon
The other bad news: basics like health care, day care, and housing are experiencing inflation.
The number of Americans in poverty, on food stamps, and having to share housing is increasing. A growing majority of Americans aren’t in the middle class and are making less than $30,000. At some point, such an economy is unsustainable.
(Click on the photo for the link.)