Downturn's Ugly Trademark: Steep, Lasting Drop in Wages

The Wall Street Journal reports:

In California, former auto worker Maria Gregg was out of work five months last year before landing a new job—at a nearly 20% pay cut.


In Massachusetts, Kevin Cronan, who lost his $150,000-a-year job as a money manager in early 2009, is now frothing cappuccinos at a Starbucks for $8.85 an hour.