Working Harder; Falling Further Behind

The American Dream is long gone.

The expectation of rising living standards for each generation of workers has given way to a low-wage economy in which young workers will struggle just to match their parents' income--and are increasingly likely to end up worse off.

Even before the current economic crisis took hold, workers were working harder for less and carrying big debts to compensate for falling income. Record numbers of workers endured long and fruitless searches for employment, while those who had jobs are plagued with insecurity over their employment, health care and retirement.

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