Robert Reich, on his blog yesterday, made the above statement. And he went on to say:
Consumers have gone on strike because their earnings haven’t kept up. The recovery that officially ended December, 2007 (the National Bureau of Economic Research now tells us) was the first on record in which median earnings declined, adjusted for inflation. Since then, many people have also lost their jobs or are working part time when they’d rather be working full time, or else know they’re in danger of losing their jobs.
We are pleased to name Professor Reich as one of the advisors for the Frances Perkins Center. As a former secretary of labor himself (1993 – 1997), he honors the work of Frances Perkins and shares her passion for social justice.
Here’s his official portrait from the Department of Labor: