A trend to working fewer hours and low wage labor: Is America looking at becoming a low wage nation in a race to the bottom? 1 out of 4 people working are in jobs paying $10 an hour or less.
One distinctive feature of this recovery is that many of the jobs added since the recession officially ended five years ago is that a large part of the jobs are coming from low wage labor. Low wages are not the only challenge hitting Americans. The small package of benefits, or lack thereof in many cases, […]
How the US is creating a low wage workforce: Foreign born workers earn 79.9 percent compared to native born workers.
Over the last decade the U.S. has entered into a low wage economic trend impacting the overall economy. The result has been for many once middle class familiesto fall one or two rungs lower on the economic ladder. Many corporations have boosted their bottom line by using slack in the labor force to cut wages, […]
Being young increases your odds of being unemployed in the US: 40 percent of unemployed workers are Millennials. The long-term impact of young unemployment.
Young Americans continue to carry a heavy burden brought on by the Great Recession. A recent analysis conducted on US Census data found that 40 percent of unemployed workers are Millennials. Many young workers are simply trying to start their careers and each year that passes is a year where retirement planning is delayed, savings […]
Part-time working nation: The number of people working part-time for economic reasons jumped by 275,000 in the latest month of data. 6.1 million Americans not in the labor but want a job now.
The jobs report always comes out like a Black Box of economic data. While we added 288,000 jobs on the surface, digging deeper into the report we find that part-time work for economic reasons increased by 275,000 in the same month. Year-over-year inflation is eating away at purchasing power. The employment report was actually weak […]
Opting out of the workforce: Federal disability payments and the rise of those not in the labor force. Since 2000, those on federal disability insurance are up 66 percent while population is up 13 percent.
The number of Americans receiving federal disability payments has doubled in recent decades. One reason for this is the aging of our workforce and the reality that with older age, more health problems occur. This only explains part of it. There is evidence that 40 to 60 percent of the recent rise has to do […]
Old, broke, and financially unprepared for retirement: Many older Americans are simply unprepared for the costs associated with retirement.
America is graying out. The massive cohort of baby boomers are now entering retirement age at a rate of close to 10,000 per day, or roughly 300,000 per month. Many are fully unprepared for the challenges associated with retiring and living a life where work income becomes a smaller source of support. The workforce during […]
The chasm between the real economy and stock market: Baltic Dry Index down 60 percent and CNBC viewership near record lows. Where is the wealth in the US?
There is a continuing divide between the stock market and what is happening in the US economy. Many of the S&P 500 companies derive a large portion of their profits from growth abroad and many companies have increased their bottom-line by slashing wages, hours, and benefits domestically. Not exactly a plus for working and middle […]