U.S. workers feel the pinch of inflation, no raises

04/2/2011 | Wall Street Journal, The

The jobless are willing to accept lower wages to get a job, which is keeping salaries flat even as company profits have grown, economists say. "There's a capitulation on the part of workers. They're increasingly willing to accept a lower wage than they might have thought they had to when the recession started," said David Resler, chief economist at Nomura Securities.

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