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This labor day, many Americans are thankful just to have a job.

While much of the focus lately has been on the floundering stock market. The fact remains that the nation's unemployment rate is hovering near a seven-year high. The economic policy institute, A Washington-based think tank, is out with its bi-annual report looking at The State of Working America.

The authors note that because so many people are looking for jobs companies are under less pressure to raise wages in order to attract and keep workers. And they found, unlike past years, unemployment is impacting people of all education levels.