New business figures from the US show corporate profits are recovering from the recession – but it's not creating jobs.
IBM, for example, is reporting its cash reserves have grown to US$12 billion, but it has cut more than 12,000 jobs in the past 18 months.
Overall, US businesses report profits are nearly 6 percent higher than before the recession, but the number of jobs is nearly 6 percent lower.
Even those at the top of the income ladder are having trouble paying their bills – when that happens, banks sometimes call on high-end repo men to settle the debt.
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