Recession probabilities – For the 50 million Americans in poverty the probability of a recession is 100 percent. Growing economic divide for working class.
The probabilities of the US slipping into another official recession are growing. Don’t tell this to the 50 million people that are reportedly at the poverty level according to a new US Census report. This trend isn’t something new and it certainly is not going to be resolved overnight. We have nearly 47 million Americans [...]
The other side of persistently high unemployment – Underemployment rate shoots up to 15 percent but is actually more problematic because of the civilian employment-population ratio.
Spending time examining the employment report shows continuing trends that appear beyond the headline figures. The number of Americans unemployed or marginally attached to the work-force increased to 15 percent and appears to be a new staple of our current workforce. A key data point is the civilian employment-population ratio that shows a continuing drop. [...]
Financial panic button for younger Americans – The sandwich generation saw a 59 percent decline to their net worth as they deal with college aged students living at home and elderly parents.
Unfortunately more data pointing to the deterioration of the middle class came out this week regarding net worth figures. One of the more ominous data points regarded the sandwich generation of those taking care of college aged kids and parents. The net worth figures this time released by the US Census coincide with the information [...]
Using the young as a shield for hitting the deficit spending wall – the bill will come due for the young. Government spending prioritizes old American immediate needs and will send the bill to the young.
The level of government spending is mind boggling but has taken a backseat to the issues being experienced over in Europe. We are running trillion dollar deficits as if this was somehow customary in our history. For each dollar spent we are seeing less of a result in the real economy. Part of the issue [...]
How to bankrupt a generation of young Americans in four steps – young Americans living at home surges by 50 percent from 2005.
The viable pathway for success for many young Americans seems to have gotten very narrow in the last decade. The opportunities for many young workers have become mired with an economy that is largely in a deep recession with limited quality positions. Many are saddled with debt and taking on employment positions that may not [...]
How does an America with no middle class look like? Bureau of Labor and Statistics projects top two jobs for the next decade will pay roughly $20,000 a year. Approval rating of Congress at 10 percent. In comparison, Americans approved of BP’s handling of the Gulf oil crisis at a 16 percent rate.
A strong middle class has been at the core of what has been promoted as the American Dream. How would America look like if the middle class simply vanished? We may not need to wait too long at the current rate since we are quickly siphoning people off the middle class and throwing them into [...]
The sordid details of the employment market – Before recession hit 5,000,000 job openings were available while today there are 3,000,000. 1,000,000 Americans have completely quit looking for work and average duration of unemployment is 40 weeks, twice the amount of the 1980s recession.
There is a growing disconnect in America as the middle class is hollowed out. Many Americans hear talks of a recovery that is now going on three years but look at their tight monthly budgets and wonder what recovery is being discussed. The median household income is roughly $50,000 and with rising food, healthcare, energy, [...]
When the clock strikes 12 – the midnight economy of food assistance. Millions of people shop on the first of the month because electronic food assistance cards are credited. The lost wages of a decade and a Fed determined to bailout the world.
We have a serious economic crisis on our hands and the media simply fails to acknowledge it. You might be waking up to the first of the month thinking the wheels of the economy are fine. Yet silently, millions of Americans drive into mega supercenters like Wal-Mart only to wait for their monthly allotments of [...]
How Wall Street and the media forgot about the middle class – 10 incredible charts highlighting the problems facing the middle class. China labor costs, debt ratios, Euro-zone finances, and balance sheet disequilibrium.
The mainstream press and ego driven politicians have completely forgotten about the middle class in this country, pretending as if ignoring the cacophony of discontent would simply make it go away. Both parties are simply doing the bidding of the financial upper-crust and that is why you rarely hear about household income being discussed in [...]
Working for less – Aggregate hours worked in U.S. economy from all workers moves back to February 1999 levels. 25 million Americans out of work or looking for full-time work as middle class continues to shrink.
The economy continues to sputter along and the weak employment report only adds more doubt for a summer recovery. As if the American worker was in a position to support more economic bad news? Many are now looking at new methods of measuring employment in our economy since the headline unemployment rate has failed to [...]