Worthy Christian News » US News » U.S. Economy » As U.S. Factories Close, Income Gap Widens
(USA Today / Worthy News)-- The downfall of manufacturing in the U.S. has done more than displace workers and leave communities searching for ways to rebuild devastated economies. In Reading and other American factory towns, manufacturing's decline is a key factor in the widening income gap between the rich and everyone else, as people have been forced into far lower-paying work.
It's not that there's a lack of jobs, but gains often come at either the highest end of the wage spectrum — or the lowest.
"A loss of manufacturing has contributed to the decline of the middle class," said Howard Wial, an economist with the Brookings Institution and the University of Illinois at Chicago. "People who are displaced from high-paying manufacturing jobs spend a long time unemployed, and when they take other jobs, those jobs generally pay substantially less." -- Source