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17 Facts That Prove That The Quality Of Jobs In America Is Going Down The Drain

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

Do you wish that you had a better job?  If so, you are not alone.  In fact, there are millions upon millions of Americans that get up every day and go to a job that they wish that they could afford to quit.  Unfortunately, most Americans end up just desperately holding on to the jobs that they have because just about any job is valuable in this economic environment.  Over the past decade, the long-term trends that are destroying jobs in America have accelerated.  We have seen countless numbers of jobs shipped overseas, we have seen countless numbers of jobs replaced by technology, we have seen countless numbers of jobs taken by immigrants and we have seen countless numbers of jobs lost to the overall decline of the once great U.S. economy. 

Unfortunately, even though we can all see this happening, our “leaders” have failed to come up with any solutions.  And since there are so many of us that are desperate for jobs these days, employers know that they don’t have to pay as much.  The balance of supply and demand in the employment marketplace has radically shifted in their favor.  So less workers are getting health insurance these days, less workers are getting retirement plans and once you adjust for inflation our paychecks have been getting smaller for years.  Needless to say, all of this is absolutely eviscerating the middle class. 

The following are 17 facts that prove that the quality of jobs in America is going down the drain…

#1 A study conducted by the Center for College Affordability and Productivity is projecting that the number of college graduates that will be entering the workforce in the U.S. this decade will be nearly three times as high as the growth in the number of jobs that require at least a Bachelor’s degree.

#2 Only four of the twenty fastest growing occupations in America require a Bachelor’s degree or better.

#3 It is hard to believe, but in America today one out of every ten jobs is now filled by a temp agency.

#4 At this point, 53 percent of all wage earners in the United States make less than $30,000 a year.

#5 Approximately one out of every four part-time workers in America is living below the poverty line.

#6 One out of every three grocery store workers in the state of California is on some form of public assistance.

#7 Due to the decline in the quality of our jobs, income inequality in the United States has grown to frightening levels.  The following is an excerpt from a recent Politico editorial that was written by a very wealthy individual…

The divide between the haves and have-nots is getting worse really, really fast. In 1980, the top 1 percent controlled about 8 percent of U.S. national income. The bottom 50 percent shared about 18 percent. Today the top 1 percent share about 20 percent; the bottom 50 percent, just 12 percent.

 

But the problem isn’t that we have inequality. Some inequality is intrinsic to any high-functioning capitalist economy. The problem is that inequality is at historically high levels and getting worse every day. Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution.

 

And so I have a message for my fellow filthy rich, for all of us who live in our gated bubble worlds: Wake up, people. It won’t last.

#8 In 2007, the average household in the top 5 percent had 16.5 times as much wealth as the average household overall.  But now the average household in the top 5 percent has 24 times as much wealth as the average household overall.

#9 In terms of median wealth per adult, the United States is now in just 19th place in the world.

#10 Our paychecks just keep getting smaller.  Median household income in the United States is about 7 percent lower than it was in the year 2000 after adjusting for inflation.

#11 During the last recession, the U.S. economy lost millions of middle class jobs.  But during this “recovery”, most of the jobs that have been “created” have been low paying jobs.  The following is from the New York Times

During the recession, employment declined across the board, but 60 percent of the net job losses occurred in middle-income occupations with median hourly wages of $13.84 to $21.13. In contrast, these occupations have accounted for less than a quarter of the net job gains in the recovery, while low-wage occupations with median hourly wages of $7.69 to $13.83 have accounted for more than half of these gains.

#12 Due to a lack of decent jobs, half of all college graduates are still relying on their parents financially when they are two years out of school.

#13 According to one survey, 76 percent of all Americans are living paycheck to paycheck.

#14 Back in the 1980s, over 20 percent of the jobs in the U.S. were manufacturing jobs.  Today, only about 9 percent of the jobs in the U.S. are manufacturing jobs.

#15 One recent study discovered that all job growth in America since the year 2000 has gone to immigrants.

#16 Another recent study found that 47 percent of unemployed Americans have “completely given up” looking for a job.

#17 The plight of unemployed workers is likely going to continue to get even worse as technology replaces more of our low paying jobs.  For example, McDonald’s plans to experiment by replacing thousands of workers in Europe with touch screen terminals.  Will we soon see the same thing in America?

Almost all of us know someone that is working a low quality job.

Perhaps you find yourself stuck in such a situation.

And when you are slaving away day after day, week after week for next to nothing, it can really suck the life right out of you.

Just consider what one restaurant cook named Ruben goes through on a daily basis

Ruben has worked as a cook at the Golden Corral restaurant chain for more than five years, and still only earns $8 per hour.

 

He has been living with his mother because he can’t afford a place on his own. But now she is about to move into an assisted living facility so he has no idea where he will go.

 

His job is in Maryland, so he takes the bus from D.C. every day. The last train home leaves at 11:24 p.m., so on nights when he works later than 11:30 p.m. he walks two hours home because he can’t afford a cab.

 

He says he’s scared to ask for a raise because he’s worried that they will let him go and find someone else willing to take the low wage.

Other Americans have found themselves dumped out of the middle class in recent years and forced to take just about anything that they can find.  A recent Huffington Post piece documented the plight of a formerly middle class couple named David and Barbara Ludwig…

In August 2008, factory workers David and Barbara Ludwig treated themselves to new cars—David a Dodge pickup, Barbara a sporty Mazda 3. With David making $22 an hour and Barbara $19, they could easily afford the payments.

 

A month later, Baldwin Hardware, a unit of Stanley Black & Decker, announced layoffs at the Reading plant where they both worked. David was unemployed for 20 months before finding a janitor job that paid $10 an hour, less than half his previous wage. Barbara hung on, but she, too, lost her shipping-dock job of 26 years as Black & Decker shifted production to Mexico. Now she cleans houses for $10 an hour while looking for something permanent.

 

They still have the cars. The other trappings of their middle-class lifestyle? In the rear-view mirror.

 

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Wed, 07/02/2014 - 21:14 | 4919889 youngman
youngman's picture

Government jobs are the ones to get..cant be fired..and benefits thru the roof..

Wed, 07/02/2014 - 21:35 | 4919948 IPA
IPA's picture

Until they aren't, until they are, until they are gone 

Wed, 07/02/2014 - 21:40 | 4919960 BlackChicken
BlackChicken's picture

You think it's bad now, wait until that ancient, dried-up, hag, narcissistic bitch, Hillary Clinton becomes our next president

Wed, 07/02/2014 - 22:21 | 4920083 Otto Zitte
Wed, 07/02/2014 - 22:28 | 4920102 Proofreder
Proofreder's picture

Lemme guess ...

You're still pissed over the lack of an invite to the Inaugural Ball from Billary ???

Wed, 07/02/2014 - 23:36 | 4920271 BlackChicken
BlackChicken's picture

How did you know?

Funny that there are already three Hillary fans out there that didn't like my comment about that walking flem bucket/murderer. I feel sorry for them, the whole thing is just a circus show, and that woman already raised 3 BIllion in contributions; sounds like a lock to me.

The worse part is that she would probably do a better job of acting/reading than our current occupant. How far we have fallen...

Thu, 07/03/2014 - 01:20 | 4920444 7.62x54r
7.62x54r's picture

The Republicans own this mess as well.

The current minimum wage will buy $0.27 in pre-1965 currency. This is a clue. When you allow the Federal Reserve to trash money, all boats will sink.

The reason a soda jerk can't afford to raise a family today is because he is not getting paid $1.25/Hr. in silver quarters ( $18.00 today ). He is getting 27 cents. And no one can afford to pay him more than $0.27/Hr. because they are getting trash currency as well.

Thu, 07/03/2014 - 05:11 | 4920694 stacking12321
stacking12321's picture

if you're a soda jerk, or any other kind of jerk, you should NOT be raising a family. the world does not need more jerks.

a better solution is, learn to provide a good or service of value to other people, MAKE a living, TAKE charge of your own life, and stop expecting someone else to GIVE you a job.

 

Thu, 07/03/2014 - 05:51 | 4920737 0z
0z's picture

It was easiest at first, just kill and enslave the indians, then take their lands.

Thu, 07/03/2014 - 11:39 | 4921629 TeethVillage88s
TeethVillage88s's picture

Nice picture on Wikipedia for an avatar under the search for Phlegm.

https://en.wikipedia.org/wiki/Phlegm

I saw TPTB forced Hillary to prove herself and take on Secretary of the State, then prove herself by facing Pakistani women and defend Drone Strikes.

Yup, she has probably be accepted as the "New Puppet".

Wed, 07/02/2014 - 23:34 | 4920270 kchrisc
kchrisc's picture

She WILL not be president. She is a neo-con scare tactic.

"Hillary or neo-con dictatorship?"

"Hope you aren't the one changed."

Thu, 07/03/2014 - 04:18 | 4920643 barre-de-rire
barre-de-rire's picture

off course she will...

 

sheeple got deserved prez....

after the black, the hysteric blond,  after you may have a chance to elect an handicaped, a blind, eventually a fat legless...

after all you have elected since 83 only mentals retards prez, so after a nigger, everything is possible.

 

american dream wide open.

 

wow that scare the shit out of me to think about hillary public pov about isis " lets nuke those fuckin monkeyzzz "

 

/AFK bunker 10 years

Thu, 07/03/2014 - 11:56 | 4921695 TeethVillage88s
TeethVillage88s's picture

Correct.

And in the new a big Milestone.

America's First 4 Star Woman. It echos what you are saying.

The Military is very Alpha Male and misogynistic. Or anyway Misogyny is tolerated very well.

I don't want to take anything away from the First Female 4 Star General. I'm sure the military molded her and provided excellent opportunities to accomplish milestones in her career.

I do notice that men supervisors like working with women, working with women, and hanging around women even if they neglect male employees.

Thu, 07/03/2014 - 07:26 | 4920832 August
August's picture

I think I smell a Rethuglican Administration coming up. 

That Rubio guy has a nice smile.

Thu, 07/03/2014 - 11:48 | 4921659 TeethVillage88s
TeethVillage88s's picture

Obama is a Warmonger
GWB is a Warmonger
Dick Chaney
Liz Chaney
Lon Chaney
Don Rumsfeld
Wolfowitz
Hillery Clinton
Bill Clinton
Albert Gore
Heinz Horseface
Biden what's his name
Lindsey Grahm
John McCain
Sara Palin
Susan RIce
Condeliza RIce
Peter King
The old funny looking Jew Senator

Hell they make war, then don't want to pay for it or send their kids to fight in the sand or mud.

Bush & Obama look like Puppets. But Reagan Got shot and had a CIA VP waiting in the wings to take over. Maybe Reagan was a Puppet too. Bill Clinton proved to be a tool when he signed NAFTA, pushed for sub prime housing, and then aided to make sure derivatives would not be regulated & deregulated banks (Citibank & AIG Merger)

Wed, 07/02/2014 - 21:37 | 4919954 SunRise
SunRise's picture

The Printing Press explains it.

Wed, 07/02/2014 - 22:17 | 4920072 CrashisOptimistic
CrashisOptimistic's picture

Another Snyder list!!!

Who would have ever thought it?

Wed, 07/02/2014 - 21:40 | 4919956 AssFire
AssFire's picture

Government job is defacto welfare with a title along with an assigned meeting place for playtime.

Wed, 07/02/2014 - 21:39 | 4919966 yogibear
yogibear's picture

Usually easy jobs, inflated pay and keep going.

 

Wed, 07/02/2014 - 21:55 | 4920017 Oldwood
Oldwood's picture

Government jobs are like the stock market...the "last" sure thing.

Wed, 07/02/2014 - 21:14 | 4919891 duo
duo's picture

Thanks Obama, I mean WalMart.

Wed, 07/02/2014 - 21:15 | 4919892 Grande Tetons
Grande Tetons's picture

 

Ruben has worked as a cook at the Golden Corral restaurant does not have to worry about nail guns. Cheer up Ruben, at least you do not have throat cancer and Satan waiting to stick his pitch fork up your ass for all enternity. 

Wed, 07/02/2014 - 21:58 | 4920029 eclectic syncretist
eclectic syncretist's picture

Amen to that brother.

Wed, 07/02/2014 - 22:05 | 4920043 Grande Tetons
Grande Tetons's picture

The old rules of the playground were when someone cried Uncle you were to stop inflicting pain.  Dimon, and his ilk, are the bullies who kept giving swirlies to the special needs kid whose only word was Uncle. 

 Point being, ole Ruben and the speical needs kid do not need to worry about Karma..too too much. 

Wed, 07/02/2014 - 22:28 | 4920099 TVP
TVP's picture

Throat cancer can be cured.

 

It only costs a cool $10 Million.

 

Just watch this prick survive.  

 

The ones who don't deserve to live, tend to live the longest, while the good ones always die young.   

Wed, 07/02/2014 - 23:38 | 4920282 Idaho potato head
Idaho potato head's picture

Yes indeed, look at Kissinger, Brezhensky, Soros, I mean come on!

Wed, 07/02/2014 - 23:39 | 4920283 Idaho potato head
Idaho potato head's picture

Double tap, sorry.

Thu, 07/03/2014 - 00:03 | 4920338 Real Estate Geek
Real Estate Geek's picture

Why apologize?  A double tap seems quite appropriate for each of those war criminals.

Thu, 07/03/2014 - 00:30 | 4920380 mt paul
mt paul's picture

comment removed

pending review by DHS.....

Wed, 07/02/2014 - 21:23 | 4919918 bobbydelgreco
bobbydelgreco's picture

its called plutocracy

Wed, 07/02/2014 - 21:24 | 4919921 Caviar Emptor
Caviar Emptor's picture

Why worry? We are way to busy for jobs these days. Too many other obligations: social media, photo blogs, gaming, porn, video on the go, texting, TV series, food fads, sports, kardashians... America is roaring!

Wed, 07/02/2014 - 21:32 | 4919938 Thunderbox
Thunderbox's picture

Work is for shee....  er suckers!

Wed, 07/02/2014 - 23:17 | 4920220 Jerk_Store
Jerk_Store's picture

Why worry? We are way to busy for jobs these days. Too many other obligations: social media, photo blogs, gaming, porn, video on the go, texting, TV series, food fads, sports, kardashians... America is roaring!

 

Can't I earn a living making videos for youtube?

Wed, 07/02/2014 - 21:29 | 4919932 Buster Cherry
Buster Cherry's picture

Another list of.how fucked.we.are.

 

Wed, 07/02/2014 - 21:31 | 4919936 stoneworker
stoneworker's picture

Can somebody help me out with fact number 4 "At this point, 53 percent of all wage earners in the United States make less than $30,000 a year."....as far as I know the situation was much worse.

9 of the top 10 most commonly held occupations pay an average wage of less than $35,000 a year

http://theeconomiccollapseblog.com/archives/9-of-the-top-10-occupations-...

Does the 5 thousand make that big of a difference or is somebody fibbing?

Wed, 07/02/2014 - 21:39 | 4919967 Caviar Emptor
Caviar Emptor's picture

Well he did say "average wage". The oldest occupation pulls the average up

Wed, 07/02/2014 - 21:37 | 4919949 westboundnup
westboundnup's picture

Graduated in '95 with a BA degree from one of the top colleges in the country.  The quality of entry level jobs was abysmal.  Can't imagine how bad it is now. 

Wed, 07/02/2014 - 22:32 | 4920109 Yes_Questions
Yes_Questions's picture

 

 

I don't know if this applies to you, so don't take it the wrong way if it does.

 

Media and Parents each do kids a major disservice by pushing the idea work begins after a certain level of formal education be it high school, college what have you..

 

Its a big, fucking lie!

 

 

Wed, 07/02/2014 - 23:45 | 4920300 Jerk_Store
Jerk_Store's picture

Media and Parents each do kids a major disservice by pushing the idea work begins after a certain level of formal education be it high school, college what have you..

 

Kids actually listen to their parents? I thought that the kids run the house nowadays.

Sun, 07/06/2014 - 01:58 | 4928357 Otto Zitte
Otto Zitte's picture

Nope. Natty whores set the fashion statement and teachers weed out every child who poses a threat to their child molesting rings for permanent crippling, while Eric Holder and ilk get paid. Same as the religions they copied the State models on, just no absolute principles, ethics and rules.

"You get to keep what you are willing to fight for. And die for, if necessary." Captain Milton William Cooper, USN

"You will continue to get what you are willing to put up with, as long and as hard as you are willing to put up with it. Then you will do what you must." ME

Wed, 07/02/2014 - 21:39 | 4919964 moneybots
moneybots's picture

#5 Approximately one out of every four part-time workers in America is living below the poverty line.

 

How long until 4 out of 4 are?

Wed, 07/02/2014 - 23:32 | 4920266 Jerk_Store
Jerk_Store's picture

#5Approximately one out of every fourpart-time workers in America is living below the poverty line.

How long until 4 out of 4 are?

 

That depends on when they move the line


Wed, 07/02/2014 - 21:41 | 4919971 moneybots
moneybots's picture

" According to one survey, 76 percent of all Americans are living paycheck to paycheck."

 

How long until 99% are?

Wed, 07/02/2014 - 23:28 | 4920258 Jerk_Store
Jerk_Store's picture

" According to one survey, 76 percent of all Americans are living paycheck to paycheck."

 

" According to my informal survey, 76 percent of all Mexicans (in Mexico) are living paycheck to paycheck." It all equaled out..Ain't that sumpin.

Wed, 07/02/2014 - 21:41 | 4919978 yogibear
yogibear's picture

I know of people that work downtown at a city job and it's 10 AM to 2pm making 6 figures. Plus a pension. 

Thu, 07/03/2014 - 00:04 | 4920343 Real Estate Geek
Real Estate Geek's picture

Same here--but they're all in City Hall.

Wed, 07/02/2014 - 21:43 | 4919983 moneybots
moneybots's picture

"#17 The plight of unemployed workers is likely going to continue to get even worse as technology replaces more of our low paying jobs.  For example, McDonald’s plans to experiment by replacing thousands of workers in Europe with touch screen terminals.  Will we soon see the same thing in America?"

 

In spades.

Wed, 07/02/2014 - 23:34 | 4920272 Jerk_Store
Jerk_Store's picture

"#17 The plight of unemployed workers is likely going to continue to get even worse as technology replaces more of our low paying jobs.  For example, McDonald’s plans to experiment by replacing thousands of workers in Europe with touch screen terminals.  Will we soon see the same thing in America?"

Ummm.....well.....yeah....and customers will like it too.

Thu, 07/03/2014 - 05:27 | 4920712 Aussiekiwi
Aussiekiwi's picture

I might even try Mac Donalds just to use one,

Wed, 07/02/2014 - 21:44 | 4919985 Jim B
Jim B's picture

As Nazi Pelosi says "Embrace the SUCK!" 

 

PS. BTFATH! 

Wed, 07/02/2014 - 21:48 | 4919999 moneybots
moneybots's picture

"Now she cleans houses for $10 an hour while looking for something permanent."

 

In the Goldman Sachs economy, that is something permanent.

Wed, 07/02/2014 - 21:51 | 4920005 I Write Code
I Write Code's picture

Nobody in DC cares.

But if they cared they'd approve - cheap labor good!

Wed, 07/02/2014 - 21:58 | 4920028 Oldwood
Oldwood's picture

God, lets hope they don't care! I can't afford any more being saved by these fuckers.

Wed, 07/02/2014 - 21:57 | 4920027 moneybots
moneybots's picture

"#11 During the last recession, the U.S. economy lost millions of middle class jobs.  But during this “recovery”, most of the jobs that have been “created” have been low paying jobs."

 

President Obama said he wanted to fundamentally change America (into something akin to Venezuela). 

Wed, 07/02/2014 - 22:01 | 4920037 Oldwood
Oldwood's picture

Well folks this is what equality looks like. they will slowly squeeze the top 1% into the top .1% and then the .01% and then the top .001%. But just hang in there, if your concern is simply someone having more than you, you will be "relatively" happy before long.

Wed, 07/02/2014 - 21:58 | 4920031 BobTheSlob
BobTheSlob's picture

What a retarded story. Wow, there are people who have to work for low wages...no shit sherlock, that's what happens when all of the manufacturing jobs get shipped overseas and you have a welfare state that sucks down 69% of the annual feral budget (government lackeys included).

Want to fix it? Start by having the 50 states abolish Washington DC.

Wed, 07/02/2014 - 22:03 | 4920042 Oldwood
Oldwood's picture

Or maybe we can just convince them to secede.

Think of it...The Nation of DC! There president accurately reflects their demographics.

Wed, 07/02/2014 - 22:03 | 4920041 foxmuldar
foxmuldar's picture

Those low paying jobs that are still available are now being taken by the millions of Illegals in this country. $8 bucks an hour is still good money to an illegal. With so many illegals in this country, why are farmers finding it hard to get help picking their crops? Because even the illegals don't want to do those jobs anymore when they can always grab a job with the local landscaper or construction company for $8 to $10 an hour. I know this because I see them in WAWA every morning when I stop for my coffee on the way to work. You can spot them easily cause most don't speak english. And with Obama wanting to free all of South America to come here, its only going to get a lot worse. 

Wed, 07/02/2014 - 22:06 | 4920046 Oldwood
Oldwood's picture

Nah, you got it all wrong. They are only doing the jobs we can get anymore. Spanish is a employment requirement.

Wed, 07/02/2014 - 23:37 | 4920280 Jerk_Store
Jerk_Store's picture

Nah, you got it all wrong. They are only doing the jobs we can get anymore. Spanish is a employment requirement.

 

Spanish isn't a requirement to work alongside mexicans. Just lose the superiority complex and you'll be fine

Thu, 07/03/2014 - 06:27 | 4920779 Lostinfortwalton
Lostinfortwalton's picture

When I lived in Miami over twenty years ago Spanish WAS a published job requirement for most of the positions advertised.

Wed, 07/02/2014 - 22:19 | 4920080 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Wait 5 more years.....you wont even recognize half the country

Wed, 07/02/2014 - 22:04 | 4920044 moneybots
moneybots's picture

"Ruben has worked as a cook at the Golden Corral restaurant chain for more than five years, and still only earns $8 per hour."

 

Meanwhile Hillary says she isn't really well off, with a fortune of over 100 million dollars.

Wed, 07/02/2014 - 22:12 | 4920059 Oldwood
Oldwood's picture

Come on! Its Hillary. Shes had to put up with so much. First all those years with Bill and his "liberties". Then she has to play subservient to Obama, taking the beatings for Benghazi (even though "what does it matter") and still lying to this day. She earned that money! She has had to endure moral poverty for years. Now she wants her due. Big money form speaking engagements and massive political donors to buy her the White house.

I hope she chokes on it. I'm sick of the fucking liars and she is the queen (unless you count Obama and I'm still not sure about his "queen-ness").

Wed, 07/02/2014 - 22:19 | 4920079 My Days Are Get...
My Days Are Getting Fewer's picture

If you want to make any decent money - work for yourself.

It is common knowledge that there are not enough jobs to go around.  There will be fewer and fewer good paying jobs in the future.  Some good paying jobs will be handed out on a merit basis because technical competence is necessary for a business to make money.  But, many jobs will be handed out to the well-connected - just like now.

 

Technology is destroying jobs at an ever-increasing pace.  No one has any solution for the deficit in decent jobs.

 

For me, the holy grail of office efficiency has been realized - conversion of speech to text via a smart phone.  I now dictate all messages, emails, reports and work assignments to my phone.  The corrections by hand are few. I electronically archive everything and hardly ever print out anything.  All files and data are stored in my office and electronically backed up three times on different machines stored in different locations.

I remember the early 1970s before the copying machine and well before the office computer.  A secretary was very well paid to flawlessly transcribe dictation - she had to produce one original plus 6 copies on carbon paper - one typing mistake meant 7 corrections with White-Out.  That job is long gone.

 

 

If you work for Corporate, then you better know how to work the system.  Corporate will outsource everything and entrust a handful of well-paid overseers to make certain that the work is timely executed to spec.

 

If you are not making enough money, then figure out what you are good at - what produce or service you can offer - who your customers are - how much to charge; etc.  If you can't really offer anything - then, if you can work well with people - then go into sales - the life blood of every business.

Wed, 07/02/2014 - 22:24 | 4920082 intric8
intric8's picture

Do people know how signifcant outsourcing overseas and global wage arbitrage are affecting those factors listed above?

Companies simply cant reconcile paying americans 10 to 15x the salary of an indian or filipino who can deliver the same work without having to pay health insurance, ss and contribute to their 401k's. It makes no economic sense, and its impossible to make the justification of hiring american in terms of value of work. We are now globalized and have to deal with it.

The standard of living in the philippines has risen immensely. There has been a huge expansion of the middle class there, and they are simply eating our lunch because much work ends up in their country. They come from hardened backgrounds of frugal living, giving them a tough, can do attitude with a goal to make money, save and live out the equivalent of the american dream. Meanwhile, our workers become less and less viable in the global context and must adapt and accept lower wages or face total unemployment.

It sucks to be an american these days.

Thu, 07/03/2014 - 05:23 | 4920705 Aussiekiwi
Aussiekiwi's picture

May be protecting your own markets might have been an idea , instead of just rolling over removing all tariffs etc and saying 'global economy we all (meaning workers only) have to adapt to working for a couple of dollars a day....just a thought.

Politicians threw it all away in return for  bribes from big business, now they try to make it look like its the workers fault..

Wed, 07/02/2014 - 22:21 | 4920084 Temerity Trader
Temerity Trader's picture

It’s great to read the same b.s. over and over from Tyler and the ZH followers that post here.  But, I never see any better ideas posted, just the same “The Fed is f ---ed up!” over and over. I’m certainly no fan of the oligarchs or the Fed banking cabal, but if they had done nothing back in ‘08-‘09, there would have be violence in the streets after one or two years. The Dow would be at 5,000, and yes, the wealthy would have been destroyed, but so would millions of average Joes with a couple of mutual fund holdings and a few stocks. If they had let the big banks fail, the wealthy would have fled the country and the middle class would have seen their savings wiped out.  The FDIC could never had made everyone whole.  Possibly unemployment would be more than 30%.  To keep those 401Ks looking good and keep the masses mostly content, they had to make the rich, richer. It is the unfortunate negative side to capitalism.

 

We all know their game plan; keep rates low so the not-too-bright masses can borrow and buy stuff.  Pump the equity markets so people feel wealthy, borrow cheap money, and buy stuff.  Re-inflate the housing bubble, so people feel good, aren’t upside-down, and borrow money and buy granite counter tops and boats, and SUVs.

This is a consumer economy! Duh!  Manufacturing went to sources of cheap labor in Asia! No kidding? What the f --- else can the Fed do? They have no other tools.

 

The government must keep on borrowing, hiring, and wild spending; it keeps people working.  Government agencies are essentially jobs programs. Lay off one-million government workers and it will all collapse. They are consumers too.

 

I too wonder when the dam will burst or some black swan event will come along from out of nowhere. For now, the oligarchs must keep the dummied-down masses content with enough handouts for food, beer, I-Phones, HDTVs, and a few other toys.  If the people ever lose those things, even the lard-asses may finally take to the streets.

Wed, 07/02/2014 - 22:35 | 4920113 TVP
TVP's picture

Perhaps the most incoherent rant of all time.

 

You have trolled yourself into oblivion.  Congrats.  

 

and BTW, real unemployment already IS around 30%.  92 million not in labor force, plus 10 million official unemployed, equals over 102 million.  102 million out of over 300 million equals about 30 percent.  

Wed, 07/02/2014 - 23:00 | 4920181 intric8
intric8's picture

You complain about zh posters complaining and promptly proceed to complain about the same things we complain about?

The fed is out of solutions. Good observation. Many feel we need to get rid of the fed because they cause the cycles to begin with. They are the problem. What do you propose?

Wed, 07/02/2014 - 23:00 | 4920174 AdvancingTime
AdvancingTime's picture

 Many of the numbers and budget projections of the government have been based on far better employment numbers then we are currently facing or will be facing if this continues. The long-term implication of poor job creation will drastically impact in a negative way both the wealth and future of our children and America. It will mean some people never work or go decades without a job.

The alternative to working and producing is to use up your savings or be sustained by the government, family, or friends.  The longer someone is out of the workforce the harder the adjustment to reentering becomes, they call it work for a reason, and one of those reasons is that often it means doing unpleasant things. More on the implications of unemployment in the article below.

http://brucewilds.blogspot.com/2013/09/implications-of-poor-job-creation...

Wed, 07/02/2014 - 23:49 | 4920314 Jerk_Store
Jerk_Store's picture

Trying to figure out what kind of job I can get:

http://www.youtube.com/watch?v=2LCggmsCXk4

Thu, 07/03/2014 - 02:24 | 4920538 Tapeworm
Tapeworm's picture

 The system as it is is horrid for lower skills folks.

 However, I cannot believe that "Ruben" is in fear of end times if he loses his 8.00/hr job. I hired low skills people at 8.00 to start and if they prove to be decent they advance 2.00/hr after two weeks. None of those how make less than 12.00 after a year on the job. I offer them paid continuing education classes if they will bother. I offer them access to my library of expensive books that have information that will make them better and better paid. ----NO TAKERS.

 Ruben and the couple mentioned have not done anything to better themselves in value as employees, or heavens, an owner. I have some regard for them in that the FED and the system has made it possible to strip all of their value added and leave them with a stagnant and declining purchasing power. I do not feel all that badly for the examples though.

 What bothers me is the tremendous offshoring of jobs that were held by those with low intelligence but good work ethic. My favorite example was the Mississpi workers at Fruit of the Loom plants and others that provided low paying, but sustainable for the well-being of the employee, and sent them off on borrowed FED "money" to Guatemala, etc.

 If one pays 25 cents more for briefs it is not quite as big a problem as to support the former employees on disability and EBT and else.

 BTW, I am a hard core gombit hating capitalist realist. I want the ex-goomint drones to find their true value on the free market for labor.

 I want to know why tarriffs are anathema while income taxes are so blessed.

Thu, 07/03/2014 - 05:07 | 4920687 NihilistZero
NihilistZero's picture

Eliminate the income tax and implement tarrifs to replace it and me thinks manufacturing would boom... Of course that would empower the working class and we can't have that now canwe

Thu, 07/03/2014 - 03:04 | 4920579 Dementor
Dementor's picture

Why doesnt Ruben bed down in the restaurant itself. Clean-up, lock-up and go to sleep. Seems that should solve all his problems. Thats something a lot of people do in the countries all the Immigrants are coming from.

Thats what Globalization is about baby, averaging things out. Lives are improving in leaps and bounds for millions in the developing world where the majority of humanity reside.

So, on a global level things are improving. Cheer up !

Thu, 07/03/2014 - 05:04 | 4920683 Aussiekiwi
Aussiekiwi's picture

I feel better already.

Thu, 07/03/2014 - 06:44 | 4920787 Lostinfortwalton
Lostinfortwalton's picture

Odd that companies line BMW, Mercedes, Hyundai, and the Japanese automakers can build quality cars and trucks in the US, pay good middle-class wages, and make a profit, while companies like IBM shift jobs offshore and find their customers are leaving in droves because of the poor products and service.

Thu, 07/03/2014 - 07:12 | 4920810 bidaskspread
bidaskspread's picture

How does having a bachelor's degree equate to a good job? I don't get the point on that one unless you believe get good grades, graduate highschool, go to college, and get a good job still applies.

How do I know there are less quality jobs out there:

The amount of revenue corporations are taking in vs. employed staff. You don't need 10,000 accountants if you do 100 billions in revenue all in the same company vs. multiple small companies.

The second is start up costs for new business has grown to employ people, which makes you more rely on temporary labor. Why buy the problem when you can rent. 

Thu, 07/03/2014 - 08:01 | 4920876 deerhunter
deerhunter's picture

If your neighbor is out of work it is a recession and if you are out of work it is a depression.  Work.  It is easy to rant about no good jobs.  It is easy to rant about illegals taking over the country and in my hometown we have about 30% Spanish only signs.  I see plenty of job ads bilingual speaking a requirement.  ICE was advertising in January for people to fill jobs to accompany UAC's.  Underage children. 

Job description was to be on call 24/7 and accompany illegal children by train,  plane and automobile.  This destruction of our nation is well planned.  Don't call our "leadership"  stupid.  Stupid they are not.  Our country is being eaten alive by the monster that has become Washinton.  I have relatives in the DC area.  Mother in law bought a home in 1999 for 210K.  Today it appraises for 445k and would sell in 2 months.  I bought a home in the Chicago suburbs in 1998 for 180 and today it may get just that. 

Broken.  Illegals dont do work Americans won't do they just plain work.  See where most of them come from if you don't work you don't eat.  Literally.  I read that in a Book somewhere.  If we had EBT recepients who were able bodied sweeping streets and building the roads they may be more motivated to look for gainful employment.

I do not know if America is coming back.  If truly 90 plus million people of working age are un or underemployed how does anyone propose this will ever be fixed.  We have no leadership.  Blue team red team is all a myth.  Go to DC serve in congress 20 years and leave a multi milionaire from bribes.  I have no answers.  I don't feel better.  Most Americans who value work will do whatever it takes to pay their own way.  That is not only learned behavior but it is taught from a young age. 

America,  glad I knew ya.

Thu, 07/03/2014 - 08:25 | 4920924 tuku2400
tuku2400's picture

Jobs performed by machines are growing exponentially

Machines 5

Humans 0

Thu, 07/03/2014 - 08:32 | 4920940 numapepi
numapepi's picture

I agree it seems that way, but that was the same argument Marx used in his Manifesto, it was wrong then and it is today. He claimed the mechanical loom would be the end of the worker. He was wrong, the mechanical loom allowed the worker to have a wool coat instead of filling his shirt with straw to keep warm.

Mechanization is not what is cauzing our economy to fail, it is the driving up of the cost of labor by misguided government policies, that return nothing to the worker, the economy or the employer, but is a windfall for the bureacracy and political patron.

Thu, 07/03/2014 - 08:32 | 4920941 numapepi
numapepi's picture

I agree it seems that way, but that was the same argument Marx used in his Manifesto, it was wrong then and it is today. He claimed the mechanical loom would be the end of the worker. He was wrong, the mechanical loom allowed the worker to have a wool coat instead of filling his shirt with straw to keep warm.

Mechanization is not what is cauzing our economy to fail, it is the driving up of the cost of labor by misguided government policies, that return nothing to the worker, the economy or the employer, but is a windfall for the bureacracy and political patron.

Thu, 07/03/2014 - 08:25 | 4920925 numapepi
numapepi's picture

The diminishment of American jobs and wages is a signal that the regulatory and tax environment here is out of kilter. We see the results all around us yet we fail to see the reasons. Warren Buffett claimed his secretary was paying a higher tax rate than him so the government fixed it, and raised her taxes, after that they vetoed the Keystone pipeline and put a billion or so into Warren Buffett's pocket. Billions of dollars of graft leave the US treasury every year going to the cronies of our political leaders like Solyndra et al. The Banking system became overweighted with companies that are "Too big to fail." So the government passed regulation driving small banks out of business with the negative impact that had on small businesses. I could go on and on, but that would be ranting. What we need is actual capitalism, not crony capitalism, but laissez fair is not as lucrative for the elite.

Thu, 07/03/2014 - 12:07 | 4921737 TeethVillage88s
TeethVillage88s's picture

Tyler Durden maybe looking at the wrong numbers.

Check this.

"#14 Back in the 1980s, over 20 percent of the jobs in the U.S. were manufacturing jobs. Today, only about 9 percent of the jobs in the U.S. are manufacturing jobs."

US Manufacturing Topped out in 1979. I would use that number of employed if I was able to write this article. The Data might have been a problem...as is true so often.

Sun, 07/06/2014 - 02:02 | 4928351 Otto Zitte
Otto Zitte's picture

Do you know what computer aided drafting and manufacturing is, and how it refactors your hypothesis?

Sun, 07/06/2014 - 02:02 | 4928348 Otto Zitte
Otto Zitte's picture

Make sense.

We have massive illegal immigration. Because they are high acheivers born low, seeking an opportunity to step on every unfortunate child who gets in their path, or because they're termites swarming mindlessly and we're their helpless prey?

Claiming measurement of the QoJ is mystical bullshit as lame as Alice Gore claiming the oceans rose 0.625 inches in a year. You know what a good job is? I went to work. I did what I was asked, and I enjoyed it. I got paid what I was supposed to, on time and it covered my expenses. Then I got a kickass blow job. Then I went back the next day, and the next day, and the next day, and the same thing happened. It was amazing. What part of this do you not understand? What is a good job? Being a dick to people who scored higher than you on their test scores, but who you get to screw with because a) nepotism b) RICO violation c) racism d) badges e) pathology?

Perhaps you mean the quality of *some* jobs is going down. Such as, everyone in the whole world will party like its 1945 when the Obama Administration, the CFR, Eric Holder and every member of the legislative and judicial branches and their enablers foreign and domestic are prosecuted and executed for treason. As in its not a good time to be a'pimpin and a'thievin.

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