by Ayvaunn Penn, Your Black World
The outlook of the economy continues to look bleak with employees across the nation making less in the month of June than at any other point in the last 18 months. According to reports from CNN Money, “average weekly earnings last month fell to $788.56. It’s impossible to do exact inflation-adjusted comparisons with previous months until June’s inflation rate is released, but June’s earnings will be lower than they were in January 2010.”
Heidi Shierholz of the Economic Policy Institute says that this decrease in wages is “a symptom of how weak hiring is. Employers know they don’t have to pay substantial wage increases to keep workers.” Various reports are saying that even though employers are cutting back work hours they are failing to pay workers additional money. On Friday, the Labor Department released new data showing that the average work week for workers in the private sector shrunk to merely 34.3 hours in June. At the same time, average hourly wages dropped by a penny landing at $22.99. CNN Money says, “the downward spiral in wages is yet another sign of how troubled the jobs market is…and it will also slow the pace of the recovery since Americans won’t start buying more until they are earning more.”
Ayvaunn Penn is a spoken word artist and an award winning writer completing her degree in English and philosophy. For more of her witty-word works click here. To have your original poetry featured by Ms. Penn on Your Black Poets, click here.