Stiff job competition hurts wages, economists say

02/27/2012 | United Press International

Employees who have been laid off and rehired are accepting an average of 17.5% less compensation, and most of the jobs being added are lower-tier positions, economists say. The millions of unemployed people competing for jobs reduces the "bargaining power" of employees seeking better wages, says Heidi Shierholz of the Economic Policy Institute.

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