Bones
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- Dec 27, 2010
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Downturn's Ugly Trademark: Steep, Lasting Drop in Wages - WSJ.com
But the decline in their fortunes points to a signature outcome of the long downturn in the labor market. Even at times of high unemployment in the past, wages have been very slow to fall; economists describe them as "sticky." To an extent rarely seen in recessions since the Great Depression, wages for a swath of the labor force this time have taken a sharp and swift fall.