Word: economisters
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...recession eased, companies propped up their profits by being famously stingy about hiring, even as the work volume increased, which is one of the reasons worker productivity has zoomed. "What's happening is that businesses are telling workers to suck it up and work harder," says Mark Zandi, chief economist at Economy.com According to a survey by Monster.com 71% of workers polled said they put in more than 40 hours a week, and 57% consider themselves overworked. "They can't do that forever," says Zandi. "Companies have got to hire." After the 1991-92 recession, it took 18 months...
...next 15 years, taking $136 billion in wages and slowing down wage growth. Better technology and more efficient management have eliminated white-collar jobs too. What that means, then, is that legions of unemployed workers will have to switch industries entirely to find employment, says Erica Groshen, an economist with the Federal Reserve Bank of New York, who coauthored a paper on the subject...
...argue with an economist of your stature,” Mendelsohn replied. “But payout is less than half of what it’s been to the Faculty in the past few years...
Wasn’t the World Bank’s former chief economist aware of the protectionist U.S. trade policies, including tariffs reaching 21 percent on imports from developing countries and agricultural tariffs averaging 9 percent on processed goods. And wasn’t he aware that such policies help to deprive developing countries of much needed resources...
...economy's improvement is based partly on the painful work-force reductions of recent years. Companies have become more productive through downsizing and squeezing higher output from workers. Efficiency is terrific, of course, but it won't necessarily translate into job growth. Diane Swonk, chief economist at Bank One in Chicago, says the unemployment rate needs to fall to around 4.5% before we will "feel" the expansion. For now, says Sung Won Sohn, chief economist at Wells Fargo, "all of us, both business and consumers, are being squeezed." Here are some reasons why for many of us it doesn...