Article

2015-09-21 Economy

The Typical Male U.S. Worker Earned Less in 2014 Than in 1973

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Posted by g(r)omgoru 2015-09-21 04:52|| || Front Page|| [2 views ] Top

#1 Unfortunately for analysis, 1973 was a transition year. The US entered a recession by the 3rd Q of the year. The unemployment rates didn't start climbing steadily until early 1974. This was also a period when labor was not easily displaced by technology and labor inflation was a big problem. The cost of labor and the difficulty of business to deal with it was, in fact, probably one of the aggravating issues that plagued the economy through the early 1980s.

Posted by lord garth 2015-09-21 06:23|| 2015-09-21 06:23|| Front Page Top

#2 Another dynamic that is taking place involves part-time jobs. Six or 7 years ago part-time employment was somewhat difficult to find. Now, nearly all new positions are part-time or contract, and at a lower starting salary with fewer or no benefits. I think we know who we have to thank for this change.

Posted by Besoeker 2015-09-21 06:39|| 2015-09-21 06:39|| Front Page Top

#3 Ahhh, but you know who's going to fix that, doncha?

And that's why I have an economic policy that is centered on raising incomes, because I think what we inherited from the Bush administration, what President Obama had to deal with had the potential of becoming a great depression, not just a great recession. We have now recovered 13 million jobs, after losing 800,000 a month when he came into office. So, why would we go back to the same policies? Call them insider. Call them tilted toward the rich. Call them giving corporations a free pass to do whatever they want.

I'm against that. I have always been against that. I want to go back to economic policies where we create millions of new jobs and where people's incomes rise not just at the top, but in the middle and at the bottom, like they did under my husband.
Transcript of Hilly's Face the Nation interview

Posted by Bobby 2015-09-21 07:45|| 2015-09-21 07:45|| Front Page Top

#4 "... under my husband."

heh

Posted by lord garth 2015-09-21 08:44|| 2015-09-21 08:44|| Front Page Top

#5 The "real" unemployment rate should also be plotted to get a clearer picture.

Labor Force Particiption Rate

Posted by JohnQC 2015-09-21 09:55|| 2015-09-21 09:55|| Front Page Top

#6 Plot of U6.

Posted by JohnQC 2015-09-21 10:24|| 2015-09-21 10:24|| Front Page Top

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