Goodbye American middle class: New report reveals that 62 percent of Americans earn $20 or less per hour. Household income stuck in neutral for a generation.
The latest figures from the Bureau of Labor and Statistics (BLS) reveals that 62 percent of Americans earn $20 or less per hour. And this only examines those that actually have a job. Most of the new jobs added since the Great Recession ended have come in the low-wage segment of our economy which seems […]
The temporary employment recovery: Quantitative Easing and favorable banking policies creating a rising tide of temporary workers similar to Japan. Part-time workers up nearly 100 percent in US since 2007.
This recovery unlike other recoveries has been very weak in creating a large number of good paying jobs. Corporate profits are up under a market where wages, benefits, and quality of jobs have decreased while low-wage jobs continue to be added in the tens of thousands each month. Why the reluctance for firms to boost […]
Sticking it to Millennials and young Americans when it comes to wealth: Households headed by those 40 years old or younger see inflation adjusted wealth 30 percent below 2007 levels while older Americans recoup losses.
The evidence continues to mount on the deep pangs of financial pain faced by younger Americans before and after the Great Recession. The Federal Reserve Bank of St. Louis posted wealth information and what we find is that for those 40 years old and younger, there has been little recovery since the recession ended officially […]
Can the young Atlas support the heavy burden of an aging population? 58 million Americans currently receiving Social Security Benefits. Over half of elderly beneficiaries receive 50 percent or more of their income from Social Security.
Social Security was never designed as a long-term retirement plan. According to the Social Security Administration for elderly beneficiaries, 53 percent of married couples and 74 percent of unmarried persons receive 50 percent or more of their income from Social Security. This is an incredibly high number that depend primarily on Social Security and also […]
Quantitative Easing has been the fuel for rising inequality and welfare for the modern Gilded Age: President Fisher from the Federal Reserve Bank of Dallas mentions QE’s gift to the rich.
As the Fed begins to slightly ease up on Quantitative Easing the reality of the winners and losers is becoming more apparent. QE was welfare for the wealthy and even President Fisher of the Dallas Federal Reserve Bank hints at QE being a massive gift to boost wealth. Well if we merely look at wealth […]
A land of low-wage jobs: For every job that pays above the low-wage threshold of $15 an hour you have 7 job-seekers. 51.4 million low-wage jobs in U.S.
The Great Recession has only accelerated deeper structural changes to our economy when it comes to low-wage employment. While many good paying jobs were lost during the Great Recession many of the new jobs have come in the form of low-wage employment. Large organizations have used this slack in the market to reduce wages, cut […]
The perpetually depressed American consumer: Stock market high and bounce in real estate does not assist in boosting consumer confidence. 57 percent of Americans think economic outlook is getting worse.
Looking at the stock market and real estate prices would lead you to believe that the economy is recovering at a healthy clip. The underlying conditions of the economy may benefit the financial and real estate sectors (both live off each other) yet for most American families conditions are not rosy. In fact consumer confidence […]