The Wall Street Journal today reports the U.S. job market may bounce back quicker than in past recessions. That's because, unlike the 1990-91 and 2001 downturns, a big chunk of job losses have come from the service-related industries that now lead U.S. employment.
Some minimum wage workers will get a pay bump next week. The federal minimum wage increases July 24 to $7.25. The wage hike marks the final increase in a three-step boost Congress enacted two years ago. This raise will affect 29 states where minimum wages is currently set below $7.25.
People are cutting back these days--everything from big ticket plans to remodel to the cup of coffee out.‚
Money Magazine has an interesting article about just how much we were spending before the recession.‚