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According to new analysis of unemployment data by the National Employment Law Project, while 60 percent of the jobs lost during the 2008-2009 financial crisis were in middle income occupations, the vast majority – 58 percent – of jobs created under President Obama are low-wage. Those jobs include “retail sales, food preparation, home health and customer service.”
“The recovery continues to be skewed toward low-wage jobs, reinforcing the rise in inequality and America’s deficit of good jobs,” said the author of the study, Annette Bernhardt. “While there’s understandably a lot of focus on getting employment back to pre-recession levels, the quality of jobs is rapidly emerging as a second front in the struggling recovery.”
Just half of US adults are currently middle class.
(MoneyWatch) Reflecting its eroding economic fortunes, the American middle-class is often described as having been "hollowed out." New employment data suggest that isn't just a figure of speech.
Although 60 percent of the jobs lost following the 2008 financial crisis were in mid-wage occupations such as construction, manufacturing and office management, relatively few of those positions have come back, according to the National Employment Law Project. Instead, most of the jobs created during the U.S. economy's fitful recovery -- 58 percent -- have been in low-wage professions including retail sales, food preparation, home health and customer service, the New York-based advocacy group said Friday in a report.
During recovery, most new jobs offer low wages
Originally posted by xuenchen
Who will people vote for now?
The last time the stock market was this high, the Great Recession had just started, and stocks were pointed toward a headlong descent.
Exxon Mobil reported a quarterly profit of nearly $16 billion Thursday -- the highest ever for a U.S. corporation.
The Big Five today are about twice as large as they were a decade ago relative to the economy, meaning trouble at a major bank would leave the government with the same Hobson’s choice it faced in 2008
Originally posted by KeliOnyx
reply to post by beezzer
And what exact certainty do you think Romney will give us?
Originally posted by KeliOnyx
reply to post by HangTheTraitors
Well half the people won't vote for Romney for that reason, the northern half. Now the southern half will gladly vote for him for that reason. They already have voted for Chinese wages when they pass right to work laws. They do this because they believe Jesus will let them win the Mega Millions and they don't want to pay taxes on that.
According to BEA data, from 2000 to 2010, the combined real output of the 22 states with Right to Work laws protecting employees from the forced-union-dues provisions in the NLRA grew by 21.8%.
That percentage gain is well over half again as large as the combined real 2000-2010 growth of the 28 states that still do not protect employees from forced union dues.
From 2000 to 2010, inflation-adjusted BEA statistics show wage and salary disbursements to employees by private businesses increased by 8.6% in Right to Work states.
“Meanwhile, real private-sector wage and salary disbursements in forced-unionism states fell by 1.8%.”
Nobody wants to actually work for a living anymore.
Advertising has us chasing cars and clothes, working jobs we hate so we can buy we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our great war is a spiritual war. Our great depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars, but we won't. We're slowly learning that fact. And we're very, very pissed off.
Look, the people you are after are the people you depend on: we cook your meals, we haul your trash, we connect your calls, we drive your ambulances, we guard you while you sleep. Do not with us.