June 30 (Bloomberg) — More than half of U.S. workers were either unemployed or experienced reductions in hours or wages since the recession began in December 2007, according to a private report.
The worst economic slump since the 1930s has affected 55 percent of adults in the labor force, the Washington-based Pew Research Center, a nonpartisan organization, said today. The survey found that 32 percent of employees where jobless at some point during the past 30 months.
The pace of hiring suggests it will take years for the world’s largest economy to recover the more than 8 million jobs lost during the contraction. A slow rebound in employment stifles consumer spending, which accounts for about 70 percent of the economy.
Full story: Majority of U.S. Workers Lost Jobs, Wages or Hours, Pew Says – BusinessWeek