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 […]
Household debt first increase in 4 years largely driven by massive increases in student debt. Auto loans showed increase volume in sub-prime loans.
In a recent post we discussed how personal income growth is having tough go at the current economy. However, with incomes largely stuck in the quicksand of a mediocre economy for the working class, we see that the elixir of spending is back at the table again. Debt spending is making up for the lack […]
Personal income faces first year-over-year drop since recession ended: As incomes collapse, spending via consumer credit begins to increase.
There is little doubt that our economy runs on access to debt. Not a tiny bit of debt. But Himalayan mountains of debt. The banking crisis was pitched to the public as one of liquidity but in reality, it was one of solvency. The difference? One is a temporary inability to repay debts while the […]