US recovery neglects working class wages-analysts: "US recovery neglects working class wages-analysts
Wednesday January 28, 3:30 pm ET
By Kevin Plumberg
NEW YORK, Jan 28 (Reuters) - The U.S. economic rebound has so far comforted homeowners and stock investors, but has done little for working class paychecks, economists say.
A stalled job market is making any wage growth difficult for the average consumer, whose spending makes up two-thirds of overall economic activity in the United States.
Mid- to low-income workers who, unlike white collar workers, rarely get perks on top of their salaries like year- end bonuses and stock options, will likely be affected the most by the slow growth of wages.
'Certainly if you're at the low end of the wage scale, you'll be asking yourself, where's the recovery, because you wouldn't have shared in it,' said Nigel Gault, director of U.S. economic research at Waltham, Massachusetts-based Global Insight, a private company."