Multi-generational living is here to stay in a low wage economy: Over 57 million Americans live in multi-generational households.
The Great Recession might be officially over on paper, but the social impact continues to be felt today. The structural changes are deep and profound and have caused a major rise in multi-generational households. Many young Americans burdened by low wage jobs and college debt may have no other option but to move back home […]
Low wage jobs dominate as waiters and bartenders will soon outnumber manufacturing jobs: Latest jobs report highlights continuing trend in low wage employment.
The trend to low wage employment continues as the latest jobs report shows that wages are being eroded by inflation. Of course, the public is told that inflation is muted but simply looking at your paycheck versus housing costs, healthcare costs, and food would tell you a different story. Americans went to vote with economic […]
The New Normal for the American Dream – 3 Cornerstones: Low wage jobs, high levels of college debt, and a retirement that consists of working until you pass away.
There seems to be a growing acceptance that the American Dream is hardly as accessible as it once was. Low wage jobs, higher education tuition pushing many into untenable levels of debt, and a new vision of retirement all seem to connect into one new theme. The new theme revolves on a much more challenging […]
When the middle class loses the battle to inflation: Census data shows household income continues to stagnant while debt continues to expand.
The annual Census data was recently released and showed a grim picture when it comes to household income. While GDP continues to grow and the stock market continues to reach new peaks, the middle class continues to fall further behind economically. Americans however continue to add mountains of student debt and auto debt as to […]
Taking an exit from the labor force: Over the last ten years 16 million Americans have dropped out of the labor force.
The US economy has not recovered in typical fashion. Following the Great Recession, we witnessed a large growth in those not in the labor force. Part of this has to do with an older population but that does not address the issue completely. The US has added 16 million people to the “not in the […]
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 […]