Biggest drop in pay hitting America’s lowest paid workers - Yahoo Finance: "income for the lowest paid workers, defined as the lowest-paid fifth of all workers, has actually fallen 5.7% since 2009. The types of jobs seeing the greatest drops in income were for cooks and food prep workers, personal care and home health aides, and janitors and cleaners.
"This report quantifies something I think we know in a general way for a while,” Yahoo Finance's Rick Newman says in the attached video. “This is real incomes - which means relative to inflation - and I think what's going on is people aren’t getting pay cuts in these lower paying jobs, I think they're just not getting raises.” The traditional 3% or even 5% standard of living raises are a thing of the past, as employers don’t have a need to give them."
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