4 Out of 10 NY Bank Tellers Forced to Rely on Public Assistance

Juni 1988 Bonn - Innenstadt - Hauptpostamt am Münsterplatz

The biggest banks are back, and they’re more profitable than they were before the financial crisis. According to the NYTimes, 4 out of the 6 biggest banks were more profitable on 2014 — even after paying out billions in fines and settlements — than they were in 2007, before the financial crisis.

And what about bonuses to top employees? Those are up, too. Pay per employee at three of the biggest banks is also bigger than it was before the financial crisis.

But you wouldn’t know it from the wages of its bank tellers.

A study from U.C. Berkeley’s labor center showed that over half a million bank tellers make such low wages that they must rely on some form of government assistance just to scrape by.

In New York, nearly four in ten (39%) families of bank tellers are forced to rely on some form of government assistance (this is compared to the 25% of the American workforce as a whole who are on some form of assistance).

Read more @ Berkeley Labor Center

Written by Other98 Team