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Since 1990 63% of all jobs created have been low wage jobs

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  • Since 1990 63% of all jobs created have been low wage jobs

    During the Obama administration nearly all the jobs created were part time jobs. To fudge the numbers the solution was to count people who were only employed part time as having full time jobs. This has never been done in the history of the US. It's why Obama was able to go on TV and brag that he had miraculously brought the unemployment rate down below 5%. Too bad it wasn't true.

    Now statistics have come out that of all the jobs created since 1990 have been low wage, low hour jobs. In other words, part time work at part time wages and without medical, dental, vacation, or retirement benefits. The following article will lay this out for you.

    If you have a good paying job, you should probably try to hold on to it as hard as you can, because those types of jobs are steadily becoming rarer. Since 1990, the U.S. economy has produced millions of jobs, but as you will see below nearly two-thirds of them have been low wage jobs. Of course this is one of the biggest factors causing the systematic erosion of the American middle class. Today, half of all U.S. workers make less than $33,000 a year, but meanwhile the cost of living has been steadily increasing. Housing costs, health insurance and other basic necessities have been rising much faster than our paychecks have, and this has put an enormous amount of financial stress on hard working American families.

    A job making making chicken sandwiches at Popeye’s is not equivalent to a structural engineering job. In other words, the quality of the jobs that we create is perhaps even more important than the number of jobs that we create.

    Yes, the U.S. has been creating a lot of jobs in recent years, but meanwhile the overall quality of our jobs has degraded rapidly
    Although the U.S. is on a record streak for job creation, many Americans still feel like they can’t get ahead. It’s not their imagination. The past three decades have seen the economy churn out more and more jobs that offer inadequate pay, a group of researchers found.

    “The history of private-sector employment in the U.S. over the past three decades is one of overall degradation in the ability of many American jobs to support households — even those with multiple jobholders,” they wrote.
    In fact, if you go back to 1990 about half of all jobs in the U.S. were good jobs.

    But since that time, a whopping 63 percent of the jobs that have been created have been “low-wage, low-hour jobs”
    “In 1990, the jobs were pretty much evenly divided,” said Daniel Alpert, a founder of Westwood Capital and one of the creators of the index. In the process of running the numbers, he said, “We discovered that 63% of all jobs that were created since 1990 were low-wage, low-hour jobs. That was a pretty stunning statistic.”
    So what is the answer?

    In the past, you could make good money in America even if you just had a high school education. There were millions upon millions of high paying manufacturing jobs in this country, but at this point most of those high paying jobs have been shipped to other nations where wages are far, far lower.
    The rest of this article can be found here.

    It's time to wake up as to just how shaky our economy really is. It can go boom just about at any time and if we are not prepared for this we, as individuals, will be hurt very badly. The debt in this country is at record levels. That's Federal, state, county, and city debt all at levels never seen before and they are all in the same boat at the same time. Plus, consumer and corporate debt are also at all time record levels. Corporate debt is now at 47% of the nations GDP, the measure of US total economic activity. That's $10 trillion of debt just in companies traded on the stock exchanges. And that number is 52% larger than it was in 2008 when our economy came close to completely collapsing. Many of the large corporations are so far in debt that they can barely make interest payments, let along pay on the principal they owe.

    Plus, the Fed has been printing money at levels never seen before. In what is called the "repo" market they have been pumping up to $130 billion in one day into the US banking system to try to keep it afloat. The "repo" market is what is essentially bad debt that has been packaged, repackaged, repackaged and repackaged and sold again and again and again. It is now worthless and no one is buying it so the Fed is printing money out of thin air to "buy" this debt from the banks to keep them afloat and not go out of business. As the estimates for the value of the derivatives--another term for all of the debt that has been packaged and repacked again and again--reach as high as $350 trillion you can see that there isn't enough money in the world to pay of all this debt. And this debt doesn't count all the debt from all forms of government in all nations, plus all corporate debt world wide, plus all consumer debt world wide. In fact, all government debt is smaller than the derivative debt at about $250 trillion. There's just no way to pay this kind of debt so economies around the world are going to be collapsing at a far greater rate than they are now, and that includes the US economy. Venezuela is going to be the norm where people are eating out of the garbage piled up in the streets because the government doesn't have the money to pick up the garbage.

    And the more money the Fed prints the less value your pay check, investments, and bank accounts hold. The printing of money without corresponding value being added to the economy brings on inflation. And the more money printed out of thin are the higher the inflation rates will be. It means our buying power will be shrinking on an ongoing basis. Remember when cottage cheese came in quart containers? 32 ounces? Those containers are already down to 24 ounces and they still cost more than they did just a very few years ago. This is going to happen to everything, and you know how often your employers are raising your wages or the government is raising SS payments or disability payments.

    Prepare yourself for the very hard times that are coming.

    “Liberty cannot be established without morality, nor morality without faith.”
    ― Alexis de Tocqueville, Democracy in America

    “One and God make a majority.”
    ― Frederick Douglass

  • #2
    The ghost of Reaganomics.

    You can see this trend today in America. When we had heavily regulated and taxed capitalism in the post-war era, the largest employer in America was General Motors, and they paid working people what would be, in today's dollars, about $50 an hour with benefits. Reagan began deregulating and cutting taxes on capitalism in 1981, and today, with more classical "raw capitalism," what we call "Reaganomics," or "supply side economics," our nation's largest employer is WalMart and they pay around $10 an hour.
    https://www.salon.com/2014/04/19/rea...class_partner/

    Comment


    • #3
      Originally posted by quip View Post
      LOL. You don't display much ability to comprehend what you read. It is government policies that have destroyed the jobs in this country. It's things like NAFTA and TPP that have moved the good jobs out of this nation. You know, those socialistic policies of controlling all business decisions. You're reasoning of cause and effect is very defective.
      “Liberty cannot be established without morality, nor morality without faith.”
      ― Alexis de Tocqueville, Democracy in America

      “One and God make a majority.”
      ― Frederick Douglass

      Comment


      • #4
        Originally posted by ffreeloader View Post

        LOL. You don't display much ability to comprehend what you read. It is government policies that have destroyed the jobs in this country. It's things like NAFTA and TPP that have moved the good jobs out of this nation. You know, those socialistic policies of controlling all business decisions. You're reasoning of cause and effect is very defective.
        Not a good sign for you when you come out of the gate with insults. It makes you look insecure.

        Nonetheless, keep up the supply-side talking points.

        Comment


        • #5
          Originally posted by quip View Post

          Not a good sign for you when you come out of the gate with insults. It makes you look insecure.

          Nonetheless, keep up the supply-side talking points.
          I can't tell you how much I appreciate your attempts at trolling because of the unintentional humor you provide.

          Show how NAFTA and TPP have not moved the good jobs out of this country. Show how this regulation of business has not actually destroyed jobs here. Those "trade" agreements actually ensure that jobs here move to foreign shores. You know, reason from cause to effect.

          If you think they haven't done that show the statistics to prove your point. Try actually discussing the subject for a change. You saying that it was Reagan's removal of regulations that caused good jobs to go away is actually the reverse of what Reagan actually did. Regulation of businesses actually grew under Reagan. So did government spending and borrowing. And those are things that destroy the business environment. What you've fallen for is the usual misdirection from the mockingbird media. It's been going on for a century or more now.
          “Liberty cannot be established without morality, nor morality without faith.”
          ― Alexis de Tocqueville, Democracy in America

          “One and God make a majority.”
          ― Frederick Douglass

          Comment


          • #6
            Originally posted by ffreeloader View Post

            I can't tell you how much I appreciate your attempts at trolling because of the unintentional humor you provide.

            Show how NAFTA and TPP have not moved the good jobs out of this country. Show how this regulation of business has not actually destroyed jobs here. Those "trade" agreements actually ensure that jobs here move to foreign shores. You know, reason from cause to effect.

            If you think they haven't done that show the statistics to prove your point. Try actually discussing the subject for a change. You saying that it was Reagan's removal of regulations that caused good jobs to go away is actually the reverse of what Reagan actually did. Regulation of businesses actually grew under Reagan. So did government spending and borrowing. And those are things that destroy the business environment. What you've fallen for is the usual misdirection from the mockingbird media. It's been going on for a century or more now.

            History of NAFTA


            Back in 1984, President Ronald Reagan passed the Trade and Tariff Act, which allowed the president special authority to negotiate free trade agreements more quickly. Going off of Reagan's initiative, Canadian Prime Minister Mulroney supported the president and the Canada-U.S. Free Trade Agreement was eventually signed in 1988; it went into effect one year after.

            Comment


            • #7
              Since 1964 we have been off of the Gold Standard.

              A person in 1963 that made $1 an hour, is equal to making 1 Ounce of Silver. $17.

              So a person that made $1 an hour in 1963 made $17 an hour.

              What is funny is that Silver went up to $32 an Ounce, which would have made a person making $ $1 an Hour in 1963 equal to $32 an hour today.

              Comment


              • #8
                Hey all you Trump People, tell him to put America, the USA, back on the Gold standard.

                Tweet this to Trump.

                Comment


                • #9
                  Originally posted by quip View Post


                  History of NAFTA


                  Back in 1984, President Ronald Reagan passed the Trade and Tariff Act, which allowed the president special authority to negotiate free trade agreements more quickly. Going off of Reagan's initiative, Canadian Prime Minister Mulroney supported the president and the Canada-U.S. Free Trade Agreement was eventually signed in 1988; it went into effect one year after.
                  It was after the signing of NAFTA that manufacturing jobs began moving out of this country. And manufacturing jobs paid well. Someone working on an automobile assembly line was making around $50k a year, not counting benefits back in the 80s. That meant that a married couple with a couple of kids could live on one the earnings of one person. They had the income to buy a home on that single salary. The appliance and TV manufacturing jobs were similar in pay and benefits. A huge proportion of those jobs are now overseas. And what has replaced the manufacturing jobs? Retail sales, restaurant jobs, service jobs, etc... have made up the vast majority of new jobs since then. And those jobs cannot support a family.

                  And what destroyed all those good paying jobs and replaced them with low wage jobs? Agreements like NAFTA. Those trade agreements sent manufacturing jobs to Mexico, Korea, China, all over Asia in fact. Agreements like NAFTA also destroyed a lot of small businesses too. There were a lot of machine shops which were manufacturing things like brake components, transmissions, drive line components, suspension components, etc... These businesses employed a lot of skilled labor which were good paying jobs. And where did those jobs go? Overseas to where labor costs were much much lower than here. The effect here is that most of those component machining/manufacturing businesses also went out of business. The human cost was exceedingly high.

                  The same thing has happened to the steel and aluminum manufacturing sector since NAFTA.

                  And what replaced all these good paying jobs? Waiting tables. Selling underwear. Selling shoes. Working in a fast food restaurant. And a whole lot more low paying jobs. So what happened to all those people who had good paying jobs? They lost their savings, their homes, etc.... They had to sell out and move during a time when 10s of thousands of other people were being forced into the same thing. The result was all these people who had been responsible, bought homes, created good neighborhoods, etc... lost their shirts financially. In other words, they had their lives destroyed.

                  NAFTA was nothing more than wealth redistribution in action. It transferred massive amounts of wealth out of this country and into the countries where the jobs went. And you leftists screamed bloody murder when Trump started working on getting good jobs back into this country. He's the first president that has actually tried to do something for the little guy. That's why the elite and the very wealthy hate him so badly. And that's one reason why the Democrats are working to destroy Trump. They absolutely hate what he's doing. They claim to be on the side of the poor people but their actions show the lie of their words.
                  “Liberty cannot be established without morality, nor morality without faith.”
                  ― Alexis de Tocqueville, Democracy in America

                  “One and God make a majority.”
                  ― Frederick Douglass

                  Comment


                  • #10
                    Originally posted by Child of God View Post
                    Since 1964 we have been off of the Gold Standard.

                    A person in 1963 that made $1 an hour, is equal to making 1 Ounce of Silver. $17.

                    So a person that made $1 an hour in 1963 made $17 an hour.

                    What is funny is that Silver went up to $32 an Ounce, which would have made a person making $ $1 an Hour in 1963 equal to $32 an hour today.
                    That's what a swamp does. The FED has been gaming the precious metals markets for decades, and the Congress critters benefit from it.

                    I agree with you on this. We need a stable monetary system and gold and silver hold their value really well. A fiat currency has only one purpose: to enable bankers to skim the profits out of the economy by manipulating interest rates. The unlimited power to devalue a currency through printing money out of thin air cannot exist in a gold/silver based currency. I know paper money is easier to carry, but as soon as it is introduced as a currency it is manipulated badly by governments. We actually need a currency that is gold and silver. We need to use the physical metals themselves. We need to own and use them ourselves. Then the government could only devalue the money by creating alloys, and that would be detected by anyone who owns a good scale so the government would be forced to have honest money.
                    “Liberty cannot be established without morality, nor morality without faith.”
                    ― Alexis de Tocqueville, Democracy in America

                    “One and God make a majority.”
                    ― Frederick Douglass

                    Comment


                    • #11
                      Originally posted by Child of God View Post
                      Hey all you Trump People, tell him to put America, the USA, back on the Gold standard.

                      Tweet this to Trump.
                      I wish he would. He's hinted at getting rid of the FED, and if he does it will be a good start to fixing our currency problems and getting rid of constant inflation caused by the constant devaluation of the dollar by the FEDs practices.
                      “Liberty cannot be established without morality, nor morality without faith.”
                      ― Alexis de Tocqueville, Democracy in America

                      “One and God make a majority.”
                      ― Frederick Douglass

                      Comment


                      • #12
                        Originally posted by Child of God View Post
                        Since 1964 we have been off of the Gold Standard.

                        A person in 1963 that made $1 an hour, is equal to making 1 Ounce of Silver. $17.

                        So a person that made $1 an hour in 1963 made $17 an hour.

                        What is funny is that Silver went up to $32 an Ounce, which would have made a person making $ $1 an Hour in 1963 equal to $32 an hour today.
                        is this fuzzy logic?
                        So, what?

                        believe it!

                        Comment


                        • #13
                          Originally posted by Ktoyou View Post

                          is this fuzzy logic?
                          in engineering they call it a WAG

                          Comment


                          • #14
                            Originally posted by Ktoyou View Post

                            is this fuzzy logic?
                            At the time dollars were called silver certificates. That means you could redeem a dollar for a dollar's worth of silver. I don't think though that silver was valued at a dollar an ounce at that time, but I haven't verified that. My guess is somewhere around $10 an ounce. The spot price for silver right now is $17/ounce. Silver did rise to $110/ounce in 1980.

                            Predictions now are that silver will rise to a few hundred dollars an ounce on the collapse of the dollar which doesn't seem to be that far off according to a lot of financial analysts. Our debt levels are so high that it's impossible to pay them off. That kind of debt, as dollars are created only by the creation debt, means the dollar is worth next to nothing so it's collapse is imminent.
                            “Liberty cannot be established without morality, nor morality without faith.”
                            ― Alexis de Tocqueville, Democracy in America

                            “One and God make a majority.”
                            ― Frederick Douglass

                            Comment


                            • #15
                              Originally posted by ffreeloader View Post

                              LOL. You don't display much ability to comprehend what you read. It is government policies that have destroyed the jobs in this country. It's things like NAFTA and TPP that have moved the good jobs out of this nation. You know, those socialistic policies of controlling all business decisions. You're reasoning of cause and effect is very defective.
                              He actually reads and seems to apprehend better than you do.
                              So, what?

                              believe it!

                              Comment

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