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Bosses have mostly been spared, but workers still taking a beating from the recession

Published: Monday, June 11 2012 12:08 p.m. MDT

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For many bosses, the economic rebound has kept them relatively secure. But their employees have been taking the brunt of the blows from the recession, according to Bloomberg.

A lot of it has to do with whether they have a college degree.

Those that earned a college degree have seen their wages rise by 1.9 percent from 2007 to 2010, whereas those that haven't earned one have seen their wages fall by 4.6 percent, said the article.

"I don't think I'll ever be able to retire," said Tim Kirk, an installer of home audio video systems in Gainesville, Va., to Bloomberg. "It's just impossible; the cost of living's too high. I'm way behind where I should be."

The working-class seems to continually be pushed down with pay cuts, loss of jobs and jobs seeming scarce. In the meantime, employers continue to stress the need for an education, even for factory jobs, according to Bloomberg.

Last month the Bureau of Labor Statistics reported unemployment for high school-degreed workers was at 8.1 percent, as opposed to 3.9 percent for unemployed college-educated workers, according to Bloomberg.

Email: ehong@desnews.com

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