AP: Wages and benefits rise in 2009 by smallest amount in at least 27 years

[Kurt_and_Hunter]

Wages and benefits rise weak 1.5 percent in 2009
Wages and benefits rise in 2009 by smallest amount on records going back 27 years

WASHINGTON (AP) -- Wages and benefits paid to U.S. workers posted a modest gain in the fourth quarter, ending a year in which recession-battered workers saw their compensation rise by the smallest amount on records going back more than a quarter-century.

The anemic gains have raised concerns about the durability of the economic recovery. The fear is that consumer spending, which accounts for 70 percent of economic activity, could falter if households don't have the income growth to support their spending.

The Labor Department said Friday that wages and benefits rose by 0.5 percent in the three months ending in December. For the entire year, wages and benefits were up 1.5 percent, the weakest showing on records that go back to 1982.

The 1.5 percent increase in total compensation in 2009 was about half the 2.6 percent increase in 2008 and both years represented the smallest gains for the government's Employment Compensation Index.

http://finance.yahoo.com/news/Wages-and-benefits-rise-weak-apf-4052349307.html?x=0&.v=1

[unabelladonna]

1. ....and this is why we're heading into third world status

we are losing the first class standard of living which made us the envy of the world. i can't help but think this was planned by the PTB.

[area51]

4. +1

Also, along with this article on how America increasingly looks like a developing nation.

[customerserviceguy]

2. I consider myself lucky

Last year, my union negotiated a 3% raise, and two 3.25% raises for the next two years. My lady works for the same company, but across state lines, with a different union to represent her, all they got was 2% for this and the next two years.

Still, we consider ourselves lucky when we see all of the pain that is out there.

[hayu_lol]

5. Workers got shit last year...

CEOs however did themselves handsomely did they not?

Millions in salary, bonuses, perks, parties, planes,and more. Ought to be a 95% tax rate on these people to be applied to unemployment benefits.

[customerserviceguy]

6. They certainly did, they always do

That's why I liked the House HCR bill better than the Senate bill, it targeted those who profited off of others' misery most effectively. The Senate bill's idea is to just tax workers who have the fortune to still have decent employer provided health insurance.

[Mari333]

3. Corporations win. enjoy your serfdom.

politicians owned by corporations.

[G_j]

7. while the cost of most everything has gone up nt