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Fed Warns The Plunge In "Routine" Jobs Won't Slow Down Anytime Soon
Employment in the United States is becoming increasingly polarized, growing ever more concentrated in the highest- and lowest-paying occupations and creating growing income inequality. As the Dallas Fed explains, market changes involving middle-skill jobs in the U.S. are hastening labor market polarization. So-called "Routine" jobs have declined from 58% of employment in 1981 to 44% in 2011, while both types of non-routine jobs have expanded. The number of routine jobs declined in every recession since 1970, as did most other types of jobs. However, routine jobs always rebounded during the economic expansions that followed the recessions of the 1970s and 1980s.
This pattern changed dramatically in the three recessions since 1990. None of the routine jobs lost in these downturns came back in the following expansions.
This is a problem since middle-skill, routine jobs still account for almost half of all existing jobs; and as the Dallas Fed concludes, the pace of labor market polarization is unlikely to slow down anytime soon.
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Above average people don't do "routine" jobs, don't these guys know anything.
What do you think they want 'Immigration Reform" for?
Its the new slave trade, and most of the 'immigrants' don't seem to get it.
It's about the votes Einstein. It's not about lawn care.
I prefer this article to the other one of the same name and content.
I agree... it's newer... and newer is better.
Just like the new way they calculate GDP and the number of unemployed...
That Janet Yellen is so hot right now!
GDP, it's always New and Improved
You can say that again!
You can say that again!
They are actually not the same. On the other one there is a typo, it is supposed to read "Poutine". The "first lady" has publicly declared poutine taboo, and, well, have you priced the ingredients to make real gravy lately?
All jobs are routine.
It's a sliding scale.
It ranges from the 'routine' to the 'poutine'. power + routine = poutine.
Robots
Anyone of us could be a robot and not even know it.
You could be one.
I could be one.
The guy who thinks he's a successful Zero Hedge contributor?
There could be robots on this site right now having conversations with each other and not even know it.
The internet is a house of illusion.
Deckard: Suspect? How can it not know what it is? Tyrell: Commerce, is our goal here at Tyrell. More human than human is our motto. Rachael is an experiment, nothing more. We began to recognize in them strange obsession. After all they are emotional inexperienced with only a few years in which to store up the experiences which you and I take for granted. If we gift them the past we create a cushion or pillow for their emotions and consequently we can control them better.
Rachel
It's about cheap labor, and secondarily, votes.
It's about the votes Einstein,
It's also about wrecking the social and racial cohesion of the country.
That too, Niels Bohr,
which you touch on another issue;
They care only about themselves. They could care less if getting re-elected would destroy the lives of hard working people.
That's good, because 90% of Americans are above average.
McDonalds needs to cut the shift to 6 hours and add a fourth shift.
Or 24 one hour shifts.
Brilliant!
Unemployment problem finally solved Obamastyle.
What the Fed Res needs....what the US Govt needs....what the US economy needs....is the equivalent of another Internet. A treetrunk with many branches.
Betcha a goddamn million dollars...the fucking US military is sitting on such a thing, right fucking now.
I guess that's the news the market needed to push to yet a new all time high by the close.
well investment banking and trading rigged stocks is pretty routine....why did they come back?
Weber Grill has the nerve to sell this fucking hubcap with a wire rack inside for $30 and to top it off, manufacture it in China. https://c7cf1aee0f9592118cd3-45a8e764187dff1857a6ffe8280848dc.ssl.cf2.ra...
So after working at your shit job as a fry cook, paying your rent, paying for your overpriced food you can somehow afford to spend $6lb on ground meat to put on this piece of junk.
Shit and I'm rolling my roadkill up in bananna leaves and just throwing it in the old campfire. There's a great invention every day ya just gotta look around I guess.
if you can get your hands on bananna leaves, you could get a bananna...screw the roadkill...
I don't barbie my banannas Hoss but I agree, screwing roadkill is kind of a lasVegas thaing
Ummm...I bought one of those a couple years ago for 15$.
Still works...not as good as my hasty bake.
RIPS
I like my little hubcap but I bought it when it was made in the U.S.A. and good ground beef was $1.49/lb.
I could actually use it back then because I had a job and a house.
Now it's the George Foreman grill in the Apt., and chicken.
Correlation?
But its a "WEBER"!! Every store has them, so it's gotta be good.
Home Despot and bLowes would never sell you crap.
With a name like Weber, it's got to be the highest quality bucket ur hard-earned money can buy
I bet that puppy will be part of of the legacy of many generations of family get togethers and good times
30 bucks is a steal. Dont be stupid. Buy them all up before you can't find them anymore
It's those routine meals people can't find that the Fed/gov should be really worried about. Only nine away from....
Most of the government jobs are routine and they keep expanding.
15.00 dollars an hour will help too..
That's what Steve Jobs told Barry; "Jobs ain't coming back."
Lying to the American population seems to have become routine, when do they get rid of politicians, regulators, and MSM reporters?
You pineing for NoKo again?
Well then, the FED will keep flooding the corporations/banks/insurers with endless liquidity and bailouts to ensure that the slaughter of the middle class and the polarization of society continues!
how about website page editor?...oops that job doesn't exist
The oligarchs are consistently destroying good jobs in the United States, pushing corporations to go offshore or to bring foreign workers here or to flood the country with an immigration wave that pushes against available good jobs.
So, now, they are warning us that the good jobs they are taking away they will continue to take away; that it is a process set to continue.
Well, the jobs that need to be taken away are the jobs of the oligarchs, of the politicians they’ve purchased and of the voter and public trough mobs that take their marching orders from the tyrants.
If this cartel is not removed, not only will there be continued loss in jobs in America, with all profit going to the international oligarchs, but there’ll be continued loss in freedom and, soon, the final destruction of the nation our fathers built.
It is way pass time that Americans run these people out of town. They don’t belong here, they were not elected, they took over the Congress, they took over the Presidency, and the courts, all to use for their own purposes.
And it’s time we stop taking orders from them.
Who do we mean? The people who own the printing press that prints the dollars that buy the incumbent members of Congress that expands the reach of almost every government department that floods their toadies with enough money that the cries and pleadings of the people can be ignored.
This trend benefits publicly traded companies, in turn shareholders whom represent the bulk of Americans, so it's break-even, right?
Eh, maybe not -
http://www.zerohedge.com/news/guest-post-if-market-crashes-who-owns-enou...
American Exceptionalism needs no "routine jobs" going forward.
Yep, exceptionally American engineers will figure out a way to match the productive efficiency of equally educated Chinese engineers who work for $250 a month.
Well, it's not like the Fed ever spelled out what kind of jobs QE would create
Take this job and love it
You ...do ...realise that QE and global free trade are not the same ...right?
I'm thinking, hopefully, folks opposed to, say, the TPP aren't convinced that a protest outside the Fed reserve will effect changes to the TPP, or any other trade agreements.
I contend all of us understand what you are saying, but your statment underlines the mess we are in. Neither policy is helping to create the longterm and sustainable kind of jobs we need.
Creating jobs in a mature market should be required to pass a certain "taste" test. It should be pointed out that while America is creating jobs it is costing a huge amount. I'm referring to the massive government deficit which I feel is the fuel driving our still rather weak growth. Is it sustainable, and just as important are these the right kind of jobs and will they last?
When a job that falls outside the description of government worker fails to make economic sense it becomes a form of working welfare with the taxpayer picking up the tab. We as a country and as a society have paid dearly for each unsustainable job created through government incentives and partnerships, because of the nature of many of these jobs we might even call them temporary. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/04/creating-real-jobs-remains-proble...
Yeah well the Fed can let the government know that the plunge in "routine tax collections" won't be slowing anytime soon either...
At the same time they can tell the government that the cost of paying people to never work again during their lifetime is going to increase sharply. The numbers don't work.
NONE of the numbers work! It's absolutely astounding! I've never seen anything LIKE this, it defies common sense.
It's modern-day witchcraft.
'We are all 'cookie?dough`coolies', now!'
This will all be spurred on by higher wage cost. While I'm strongly against raising the minimum wage because it will make America less competitive and slow job growth, I concede the debate is destined to continue until it is raised. I hereby state without a doubt, the minimum wage will go up! Polls show a majority of Americans support this idea.
It is my feeling that many people believe the myth this will put more money into the consumers pocket and create economic growth. They fail to recognize it will also spark inflation while reducing opportunity. New twist and wrinkles are being added by the White House and supporters of this increase every week. Expanding the number of workers eligible for overtime pay is another attempt to push this along. Unfortunately much of the impact and pain will directly fall upon small business the real creator of jobs. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/03/the-minimum-wage-will-go-up-right...