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Give me your White, scared and wealthy
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NEWSFLASH: Unemployment hits above 6%!!!
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Why autos are important to winning MI & Ohio
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Productivity - Wage Gap Grows
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It's time to live within our means once again
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Here comes the next banking crisis
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A Big Picture comparison of long-term Bear Markets
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Give me your White, scared and wealthy
- 16401 reads
NEWSFLASH: Unemployment hits above 6%!!!
- 13295 reads
Why autos are important to winning MI & Ohio
- 38944 reads
Productivity - Wage Gap Grows
- 42935 reads
It's time to live within our means once again
- 50944 reads
Here comes the next banking crisis
- 15133 reads
A Big Picture comparison of long-term Bear Markets
- 14617 reads
The Golden Rule
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Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
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New York Post Claims Census Falsifies Unemployment Figures
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How Many Jobs Are Needed to Keep Up with Population Growth?
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VAT or Value Added Tax is Getting a Look in D.C.
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U3 and U6 Unemployment during the Great Depression
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The war on the middle class
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House discusses 401k/IRA confiscation
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Tax Cuts for the Rich Do Not Generate Jobs
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Not only do multi-national corporations influence our government agencies, they are also pushing for greater corporate rights, including the right to sue governments for loss of expected profits from environmental, labor and consumer protection laws through the TransPacific Partnership (TPP) and its sister the Trans-Atlantic Trade and Investment Partnership (TTIP). Nobel laureate and economist Joseph Stiglitz calls them a “Free Trade Charade.”
Ah, the teamsters, good for them! The title is still very valid, Obamacare doesn't create part-time jobs in that employers have been using part-time to deny workers benefits since 1980 as a strategy. In other words, if anyone bothered to look at the trend, (see our CPS overviews), part-time has been steadily increasing and that trend is long before Obamacare.
Below is a graph of part-time workers as a ratio of total employed (CPS).
The real trend is those forced into part-time work when they need full time. Normally it is a recession indicator, but it has stayed mega high since 2008.
Below is a graph of those stuck in part-time jobs who need full time work and they are in part-time because that's all the hours they can get. The graph is a ratio of those forced into part-time to the total employed (CPS).
We see the trend line correlates to recessions until 2008 where it stays mega high.
It seems much more probable that this is due to the terrible economic conditions than blaming this sorely on Obamacare's < 50 employee, part-time exemptions.
Bud, I think you might be interested in this article, see here. It has the latest MEDIAN wages and distributions as reported by the SSA via tax records. (2011).
What a surprise, here come the massive Reply to: Time to Kill The Immigration Bill 11 years 4 months ago EPer: Robert Oak
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Two American Families
Reply to: Friday Movie Night - Frontline: Two American Families
11 years 4 months ago
EPer: Robert Oak
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they are volatile
Reply to: PPI - Wholesale Inflation Increases 0.8% for June 2013
11 years 4 months ago
EPer: Robert Oak
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eggs
Reply to: PPI - Wholesale Inflation Increases 0.8% for June 2013
11 years 4 months ago
EPer: rjs
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they will say anything to increase immigration
Reply to: Robert Reich: Reverse Mathematics on Immigration
11 years 4 months ago
EPer: Robert Oak
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the only STEM professionals
Reply to: Time to Kill The Immigration Bill
11 years 4 months ago
EPer: allen
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Unless you're connected/uber-wealthy, you don't matter
Reply to: JOLTS Report Shows Job Openings Static Again for May 2013
11 years 4 months ago
EPer: Kurtz
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U.S. manufacturing critical
Reply to: Manufacturing Matters
11 years 4 months ago
EPer: Robert Oak
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on a personal note
Reply to: JOLTS Report Shows Job Openings Static Again for May 2013
11 years 4 months ago
EPer: Robert Oak
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Immigration
Reply to: Time to Kill The Immigration Bill
11 years 4 months ago
EPer: StuartMill (not verified)
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I guess Obama/Biden are
Reply to: New Study: The Wealthy are more Unethical
11 years 4 months ago
EPer: Chris (not verified)
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Immigration Serves to Discipline US Workforce
Reply to: Time to Kill The Immigration Bill
11 years 4 months ago
EPer: WNY-WJ (not verified)
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amazing how it is ignored
Reply to: May Trade Deficit Increases 12.1% as Deficit with China Jumps Nearly 16%
11 years 4 months ago
EPer: Robert Oak
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India BPO is > 4% of their GDP!!
Reply to: Time to Kill The Immigration Bill
11 years 4 months ago
EPer: Robert Oak
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H-1B Guestworker
Reply to: Time to Kill The Immigration Bill
11 years 4 months ago
EPer: Bud Meyers
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cant reduce the federal deficit with a trade deficit like this
Reply to: May Trade Deficit Increases 12.1% as Deficit with China Jumps Nearly 16%
11 years 4 months ago
EPer: rjs
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Complete BS Study. To
Reply to: New Study: The Wealthy are more Unethical
11 years 4 months ago
EPer: BillyG (not verified)
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trade deficit, China
Reply to: May Trade Deficit Increases 12.1% as Deficit with China Jumps Nearly 16%
11 years 4 months ago
EPer: Robert Oak
Folks, I highly recommend watching this. It brings home the hundreds of statistics and charts we overview every day on this site.
One can have charts, lines, statistics and numbers, but nothing tells the tale better than real regular folk on what is really going on in America today.
I've watched eggs go up and down by 25% or more on a monthly basis for a long time.
Speaking of which, have you ever read what they do to animals we eat? It is horrifying.
I wish I was a vegetarian and what hens go through, well, free range all the way baby!
I really put in the eggs comment to see if anyone really reads these overviews? I often wonder how much depth I should cover for they take a long time! I see you are!
seems i read a month or two that eggs had spiked in price because a disease outbreak necessitated slaughering a significant part of the mexican flock, so this is likely just a return to normal prices..
They believe they will lock down political power by passing this, I doubt it. The polls show Hispanics are demanding "unlimited migration" but thinking if they pass this, somehow Hispanics will vote for life Democrat is a mistake.
What they fail to miss is the great immigration waves of the late 1800's allowed industrialists to exploit workers to no end. Instead of streets paved with gold, there was such an oversupply of workers it took 80 years to get worker rights and higher wages, no child labor, better working conditions.
It is no fluke most of labor rights happened after immigration was severely curtailed for businesses needed workers and there was no ability to import cheap labor.
If immigration grew the economy and it is incredible, for labor economics, the mathematics does not back up that claim, it is the opposite, then obviously we would have a booming GDP by now and have higher wages.
Instead we have wages so low most people cannot buy enough food they need, never mind have disposable income.
As far as this claim of "aging population" I'll have to look at that but I'm not sure that's true today, it was 10 years ago, but due to the already massive influxes of immigrants there are many babies. I'll have to break down population by age to see if this is true today.
Reich also ignores education and skills. It is not just babies, but in the past, the educational system of this country plus the labor conditions gave new workers higher earning ability and that affects paying into social security, taxes. That is not true today, so increased young population does not mean better workers and more money for social security necessarily. It probably does mean more low wage workers to be nursing aides.
the only STEM professionals that i know of off the top of my head that are unionized are BOEING engineers. I'm not sure how many or which disciplines but that is the only one I've ever heard of being in a union. As an engineer myself (presently) i believe hell will freeze over before we see a mass movement among STEM professionals to organize in the United States.
And public sector workers look out, the Republicans want to kill you and oh by the way, the Democrats won't save you.
Good luck to all and good night
It's that simple. If you have huge gobs of cash, political connections, or even better, both, then someone in power cares. If not, sh*t out of luck. Look at the connected families that can actually win public office just by their last names. They will never worry about anything. Their kids could be the dimmest, laziest, most arrogant tools in the world, but they'll never worry about getting screwed over, fighting for jobs under poverty wages, or even busting asses in tough colleges so they can be unemployed with STEM majors. Now, the 99%+ rest of us, oh well, prepare to fight, struggle, get raped and robbed, and over and over and over again. But if some foreign or US well-connected super rich joker has a beef with a business, or professional, or insurance, or cop, or judge, or law, one phone call and it's solved. Hell, they can literally break laws, destroy people, rob, loot, flunk, steal, lie, etc., and they'll never face any difficulty or repercussions. Who says this is a democracy or republic? And our "elite" schools and institutions even invite scoundrels from overseas to screw us here. Wasn't Qaddafi's kid here on a special tour by the State Dept. as we were preparing to attack Libya? He got special visas, passes, etc. that gave him access Americans can't even get. Look at Harvard and other schools. Within their classes they have plenty of folks from here and abroad that got in through connections, nothing more. Meanwhile some poor kid on an Iowa farm busting his ass that can play the piano like an expert, score 99% on all his tests, dominate all his AP Calc. and Physics and other work will never get into those same schools and will struggle for life. But hey, I'm just a grunt too, so don't listen to me.
Thank you for this. Politicians clearly just say "whatever" to win elections as only corporate lobbyist written agendas get through D.C.
The spin coming from Silicon valley that somehow it is perfectly ok to let China have the entire U.S. manufacturing base is not just offensive, it is destroying the nation!
I'm very glad someone pointed out China has more money from America to now buy America and they are doing just that.
ABC News has just a minor partial list of recent Chinese acquisitions of U.S. companies.
USA today also has a partial list;
One may wonder why this overview was published 16 hours after the JOLTS release.
Believe this or not, I was on the phone, ALL DAY, documenting, FAXing, writing complaints finally in dealing with an insurance company trying to do a policy switcheroo on the type fthat I am paying premiums on and thus deny benefits and deny what I purchased.
While the JOTS report month after month shows the job market is truly horrific, is there anything left in America that is on the up and up? How many hours do Americans blow away fighting ripoffs and financial screw jobs?
I promise to dig out the statistics for myself, it can take weeks and weeks, but generally speaking individuals are just getting the shaft from every direction.
A wonderful article that sums up the situation quite well. Who would have thought the American worker would be "saved" by the right? Bernie Sanders was eloquent in his criticism and then sacrificed the American worker along with all of the other Democrats--a truly pathetic display. The only entity that is looking out for the American worker in this race to please corporate masters is the conflict between the parties itself: Let's hope it continues because it's obvious that workers have lost a seat at the political table. Period.
I guess Obama/Biden are mentally ill going by you absolutely inane example of the Walmart woman "It seems that some of these people just can't help themselves...they're mentally ill!".
I'm struggling everyday while Obama/Biden live like kings dropping millions of dollars every day. 5 days in Ireland, 1 week in Hawaii, 4 days in las vegas....... why cant he at least lower my taxes?
Business increasingly uses immigration as a means of disciplining labor. Workers on temporary work visas obviously cannot effectively bargain with business, as they require continued sponsorship. Workers with those visas can oftentimes be counted on to do unethical work under a real threat of deportation.
A new, large pool of cheap immigrant labor - obviously one goal business has for the new immigration bill - will further depress wages in the US. When organized labor is either too misinformed or culpable to oppose such a bill, labor should rightly fear for its future.
interesting link, but yeah, hello, accounting 101, and imports subtract. Why I put the GDP equation in every GDP overview!
That's right, India believes they have every right to "export" people as part of "trade". In other words, H-1B brings profits to India through remittances and many H-1Bs are actually used to train in the U.S. and then technology transfer the project out of the United States and back to India.
I'm really glad the "left" types of sites are realizing the realities of immigration, labor arbitrage, wages and the economy. About time! The worst is STEM professionals. They sit on their hands and do not organize. If any group needed a union at this point, it is STEM, Bachelors or higher education levels.
According to the Center for Public Integrity, there's also a league of foreign nationals lobbying for this immigration bill. Members of Congress (more interested in their own jobs) are just following the money.
http://www.publicintegrity.org/2013/07/03/12932/league-nations-lobbying-...
One of the purposes of the Immigration and Nationality Act (INA), the current immigration law, is to preserve job opportunities for American citizens...but that's not happening.
http://www.dailykos.com/story/2013/04/01/1198459/-H-1B-Guest-Worker-Frau...
in an earlier post, i explained that a trade deficit forces either or both the federal government or the private sector further into debt, cause every dollar of foreign surplus is always offset by either government or private sector deficits...
as long as the US continues to run trade deficits, it is impossible for the federal government to balance its budget while the private sector is deleveraging...every dollar of private sector surplus is always offset by a government sector deficit, and vice versa; its an accounting identity...therefore reducing government deficits will of necessity reduce private sector surpluses accordingly...this can best be seen on the adjacent chart from Goldman's chief economist Jan Hatzius...what you see here is that the financial balance of three sectors (private, government, and foreign) always and must net out to zero; because one sector’s income is always another sector’s spending...
Complete BS Study. To determine ethical behavior and wealth, they sat at four intersections and recorded what car people drived and if they yielded to pedestrians. Now they try to extrapolate this to CEOs. What CEO is going to drive by their corner, especially when they looked at under 300 cars? What do they consider a "wealthy" car?
China's deficit is highly cyclical, so going off the monthlies isn't too good of an idea. Yet, annually, it has jumped already and last year was another record high.
I am noticing U.S. exports seem to be more in trouble and that along with manufacturing losing even more jobs makes me suspect even more jobs are being offshore outsourced.
I'm so glad you wrote about this. It is astounding how Wall Street and our lovely political leaders completely ignore the trade deficit and obviously it is negatively impacting U.S. economic growth.
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