Benjamin Chavarria, an unemployed construction worker, has fallen $20,000 behind on his mortgage.
The typical worker has fallen behind even more than a straightforward look at the respective shares of labour and capital suggests.One explanation for that is the changing nature of many jobs.
The combination of economic slowdown and plentiful jobs means output per worker has fallen 12% further than at the same stage in previous recessions.
It was dangerous, though; the slurry was too thick to swim through, and at least one worker had fallen in and drowned.
Emergency calls initially came in about 10 25 a.m. saying the worker had fallen, but subsequent information to fire units reported that he had been pinned, according to Frank Dwyer, a Fire Department spokesman.
A broader measure of unemployment that includes discouraged and underused workers has fallen even further (see chart).The Federal Reserve has been toying for months with plans for a new round of "quantitative easing"—the purchase of bonds with newly created money as a way of stimulating demand.
These figures are important as average monthly income for many workers has fallen by around €500 to €700 as a result of the financial crisis.
In sixteen years, the number of unionized workers has fallen by more than half.
Under Mr Obama, the private sector has haemorrhaged jobs but the number of government workers has fallen only slightly.
The share of productivity gains going to workers has fallen since the 1990s, thanks to rapid, labour-saving technological progress.
