sigma
US job losses are predominantly in the service sector.
Falling labour cost in the service sector are not typically reflected in cheaper product cost to the consumer unlike in the manufacturing industry.
The real perversity about the US situation is that as their economy has morphed from manufacturing to consumption based, higher wages across the board are better for their economy that falling pay rates ie workers have more to spend on consumerables.
sigmaUS job losses are predominantly in the service...
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