Many workers’ earnings stagnating or declining

Across the country, workers’ earnings are stagnating or, in some cases, declining. For many Americans, the setbacks are all the more troubling because they have lost so much wealth in recent months, with the value of their homes and retirement packages falling.

Employers big and small have resorted to slashing hours, and once-unthinkable wage cuts. In March, staffing agencies that work for Microsoft Corp. agreed to a 10% reduction in their billing rate. In April, hotel operators in New York City asked unionized waiters, housekeepers and bellhops to reopen their contract and accept wage cuts. State governments such as Indiana’s have frozen pay, while others, including those in Maryland and California, have furloughed employees.http://www.latimes.com/business/la-fi-wages9-2009may09,0,1841770.storyBy Annys Shin — The Los Angeles Times