The $1 Trillion Wage Deficit

Dean Baker and John Schmitt

CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR)

Abstract: The strong rise in the U.S. stock market since the spring and the return to positive economic growth in the third quarter of this year have created a consensus among economists that the Great Recession is very likely over. Unfortunately, the end of the official recession will have little visible impact on U.S. labor markets until almost 2012. Within that time, this paper estimates that U.S. workers will have lost over $1 trillion in wages and salaries, $150 billion more than the 10-year costs of proposed health care reform legislation.

Keywords: recession; wages; labor; unemployment (search for similar items in EconPapers)
JEL-codes: E E3 E32 E6 E61 E62 E63 E64 E65 E66 H J J3 J38 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2009-12
New Economics Papers: this item is included in nep-lab and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.cepr.net/documents/publications/wage-deficit-2009-12.pdf (application/pdf)

Related works:
Journal Article: The $1 Trillion Wage Deficit (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:epo:papers:2009-46

Access Statistics for this paper

More papers in CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR) Contact information at EDIRC.
Bibliographic data for series maintained by ().