(ReliableNews.org) – COVID-19 ravaged the US economy, but the country is finally bouncing back. New unemployment numbers show the jobless rate has fallen to 8.4% as businesses reopen and Americans start resuming their normal lives. There’s even more good news — some workers are getting a wage boost.
According to a September 6 report by Bloomberg, factories are being forced to increase wages for blue-collar workers. Apparently, people aren’t as willing to work for low wages anymore, especially if they have to relocate to take a position with a company. An economist with SunTrust Banks Inc., Mike Skordeles, believes the hike is “going to be a permanent change for these lower-end workers.”
— Bloomberg Economics (@economics) September 7, 2020
Prior to the COVID-19 outbreak, wages were actually growing the fastest for low-earners. President Donald Trump was able to implement policies that created jobs and stock market gains, which contributes to higher pay. Now, it looks like that growth is finally bouncing back and American families might start to feel financial security again.
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