A recent Labor Department report found that troubles with the economy including shaky growth, uncertain prospects and unstable prices have led to significant changes for labor. Almost a half million jobs have been cut this year, productivity has fallen, and growth in workers? compensation has slowed. The Federal Reserve is holding key interest rate steady, afraid of worsening inflation, or causing further harm to the floundering housing market.
See "Worker Productivity, and Wages, Slowed in July", The New York Times, August 7, 2008