October 4, 2013
Why are young people in America so frustrated these days? You are about to find out. Most young adults started out having faith in the system. They worked hard, they got good grades, they stayed out of trouble and many of them went on to college. But when their educations where over, they discovered that the good jobs that they had been promised were not waiting for them at the end of the rainbow.
Image: Young Americans.
Even in the midst of this so-called “economic recovery”, the full-time employment rate for Americans under the age of 30 continues to fall. And incomes for that age group continue to fall as well. At the same time, young adults are dealing with record levels of student loan debt. As a result, more young Americans than ever are putting off getting married and having families, and more of them than ever are moving back in with their parents.
October 1, 2013
Avita Samuels has worked at the Mall of America in Minneapolis for the last four years, juggling a sales job with her studies in political science and law at the University of Minnesota. The 24-year-old has been the top sales associate for the last three years and works between 29 and 35 hours a week. But over the past few months, she said, she has watched as friends working in stores around her have their hours and benefits slashed – and she’s worried that she will be next.
Image: Mall of America.
September 25, 2013
With the latest jobs report, it is now the case that “Under Obama, Food Stamp Growth [Is] 75 Times Greater Than Job Creation,” according to statistics compiled by the Republican side of the Senate Budget Committee. “For Every Person Added to Jobs Rolls Since January 2009, 75 People Added To Food Stamp Rolls.”
Here’s a chart detailing the growth:
Since January 2009, as the chart shows, a net of 194,000 new jobs have been created. During that same time, 14.7 million have been added to the food stamp rolls.
By Shobhana Chandra – Sep 10, 2013 7:25 AM PT
(Bloomberg) – Job openings in the U.S. fell in July to the lowest level in six months, signaling uneven progress in employment.
The number of positions waiting to be filled declined by 180,000 to 3.69 million, from a revised 3.87 million the prior month that was weaker than initially reported, the Labor Department said today in Washington. Hiring rose and firings cooled.
The report, following data last week showing payrolls grew less than forecast in August, indicates the labor market was struggling to gain momentum at the start of the third quarter. Federal Reserve officials, due to meet Sept. 17-18, are debating whether the economy and job market have improved enough to warrant trimming $85 billion in monthly bond purchases.
Commentary By: Gordon King
I just have to put in my two cents on this issue……
“What in the world are they thinking?”
I don’t think they are. Fifteen dollars an hour to flip hamburgers! These people do not have to work in fast food. That is their choice to make. If they want higher wages then they should look for another job that pays better or go to college and get an education. These are more than likely the same people who signed a petition for: “infanticide”, killing children up to 3 years of age (http://www.youtube.com/watch?v=XoHFWx5JWEk), increasing inflation 100% per year (http://www.youtube.com/watch?v=vJtS9CuyuaU&list=PLa8S4GilqogQILnrvxLgZREFkebrMfJ3f&index=10), and repealing the “Bill of Rights” (http://www.youtube.co/watch?v=k0he0cqHH20list=PLa8S4GilqogQILnrvxLgZREFkebrMfJ3f&index=1).
These signs look a little familiar. Looks like the same people who organized earlier strikes: The “99%”, “Occupy Wall Street”, etc. Seems like someone is up to something. Hmmmm….. Maybe dividing the country? Causing more division, chaos, confusion and hatred. Just a thought.
Why stop at $15 an hour, why not pay them $20, $25 or $30 an hour?
Fast food workers staged a nationwide strike across dozens of American cities on Thursday morning, demanding a $15 per hour wage and the right to form a union. The strike, which is believed to be the largest in the industry’s history, included work stoppages in regions of the country which had never seen concentrated fast food labor activism before.
Roughly 50 cities are affected by the strikes. Cities that have struck before and are striking again include New York, Chicago, St.Louis, Seattle, and Detroit. But far more cities are experiencing their first strike ever, including cities from Hartford, Conn., to Dallas, Texas, to Berkeley Calif.
Growing national news coverage and social media buzz helped to fuel the strikes, according to workers and organizers.
Trying to find a job in America today can be an incredibly frustrating experience. Most of the jobs that are available seem to pay very little, and there is intense competition for just about any job that is open. But it wasn’t always like this. When I was in high school, I was immediately hired when I applied for a job at McDonalds because they were so desperate for workers that they would hire just about anyone that could flip a burger. But in this economic environment, a single nationwide hiring event conducted by McDonalds resulted in a million job applications, and only a small percentage of those applicants were actually hired. Our economy simply does not produce enough jobs for everyone anymore, and the percentage of “good jobs” continues to decline. That means that it is getting really hard to find a job that will enable you to support a family, and a lot of people end up doing jobs that they are massively overqualified for. But when times are tough, people are going to do what they have to do in order to survive.
July 5, 2013
As a reminder: jobs have quantity and quality components. The quantity component was good enough to convince the 10 Year the taper is imminent (if not stocks, which continue to trade dislocated from any and all fundamentals). But how about the quality? In a word: not good. In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 – an all time record high. Full time jobs? Down 240,000. And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs. And there is your jobs “quality” leading to today’s market euphoria (if only for now).
June full-time vs part-time:
And the divergence historically: