Experts Worry Stagnant Wages Are Delaying Economic Recovery

Editor’s note:  Came across this article right after I posted about grocery store price increases. They certainly speak to each other.

Jim Talerico got a $900 raise this year, but he isn’t happy about it.

“It’s a terrible wage,” said Talerico, a part-time faculty member in Robert Morris University’s English department. “Now I’m making a whopping $14,400.”

It was the first pay raise in 10 years for the 54-year-old Ingomar resident. Even with the $13,500 he earns from his other part-time teaching job at Community College of Allegheny County, he said a barista job at Starbucks looks tempting. At least it would come with benefits.

Working Americans have had to make difficult choices — from canceling doctor’s appointments to cutting their grocery budgets — as their paychecks barely keep up with the cost of living.

Consumer spending drives 70 percent of economic activity, and wage stagnation has been a stubborn problem that might be holding back the recovery as other measures such as unemployment improve.

Read more: http://triblive.com/business/headlines/6812082-74/percent-pay-employers#ixzz3FO9O6Fhr
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