Comments on: Yes, we’re creating jobs, but how’s the pay? Fri, 31 Jul 2015 03:37:49 +0000 hourly 1 By: FlorianSchach Tue, 17 Jan 2012 02:03:34 +0000 We need to perhaps look a bit more closely at which kinds of jobs we are speaking about. When we often cite job losses and talk about getting Americans more job opportunities but we need to recognize that not all the opportunities available are necessarily long term jobs nor would they be high paying rather they can be used as a bridge to find employment in other areas while also having a source of sustainable income ( Though some positions that are being created are temporary it is better to have some jobs created than none at all isn’t it?

By: 123Infinity Mon, 09 Jan 2012 09:19:27 +0000 A good article. But with 7 billion people on this planet and growing, I was led to one sad conclusion: If things are getting worse for first world peoples who are finding their value as labor decreasing, what happens to the billions of third world peoples who have no value at all as labor (industrialization and automation have eliminated almost all work which gave individual labor value… We have been so successful as a species, that we have produced an excess of population that has no function and really no use except to consume what others make…But having no value as labor, they have nothing of value to trade for the goods they wish to consume….To me the conclusion is foregone: The more people on this planet, the less worth living life is for any of them but the very very few who control the wealth…Unless living like a cow in a pen waiting for slaughter is living.

By: jambrytay Sun, 08 Jan 2012 18:29:39 +0000 I have to chuckle when I read folks complaining about outsourced jobs while these same people are making ‘bang for the buck’ decisions as consumers.  Connect the dots people!  Your decisions as consumers are pushing companies to do the very thing you complain about. As consumers, we tend to reward those companies that offer the best ‘bang for the buck’ with our business.  As investors we demand that companies grow sales and cut costs.  As all this is happening, we complain about the behavior of ‘ruthless’ companies.  Just silly!

By: neilc23 Sun, 08 Jan 2012 15:39:52 +0000 While income disparity is the most glaring problem in America, there is very little that we can do to solve this flaw in the short term. Why? Because our high school graduation rates rank in the bottom third of all industrial countries.

Meanwhile, politicians of both parties attempted to solve this serious problem by encouraging home ownership, whether or not homeowners can afford the payments of not. They even forced the FHA and the GSEs into poor and even shady practices. And as with so many well-intended government interventions, unintended consequences abounded: Liar Loans, NINJA (No Income, No Jobs, No Assets) loans, cheaper construction, Adjustable Rate Loans, Inflated Appraisals, Shoddy Credit and Bookkeeping, Inaccurate Packaging of Loans in the Derivative Markets, Outright Fraud by many Brokers, Servicers & Financial institutions, and Totally Unregulated Financial Derivatives Markets.

In effect, we had a Perfect Storm. So when it really hit the fan, our politicians once again played their typical game: The Blame Game. The truth, however, is that almost everyone shares significant concurrent responsibility: Mortgage Applicants, Appraisers, Brokers, Servicers, Financial Institutions, Regulators, and even the most privileged class in America: Congress.

By: 1stMartain Sun, 08 Jan 2012 04:16:50 +0000 @BakoD

“Since 2001, the Detroit Three have slashed over 200,000 jobs, eliminating more than 60 percent of their hourly work force. In the same period, Japanese, South Korean and German automakers have opened eight assembly plants in the United States, creating almost 20,000 factory jobs.”

I guess the union did those 200,000 UAW members a lot of good.

Unions are out-dated. Federal and State employment laws give adequate protection to employees. Unions only make Americans unable to compete on the global labor market.

But I wouldn’t expect a sheep of an utopian fantasy that can only exist in academia to understand. Which isn’t amusing since it affects the survival our nation’s standard-of-living.

By: BakoD Sun, 08 Jan 2012 03:10:34 +0000 Sheep’s comments are amusing. Vilify the unions and then give perfect examples of why there should be unions..

By: Bicyclette Sun, 08 Jan 2012 02:59:20 +0000 It seems that Reuters didn’t appreciate my inclusion of a link in my comment. I tried to make it easier. You’ll just have to search for yourself: Historical non-farm payroll data is available on the Bureau of Labor Statistics site (BLS) .gov – look at the Tables from Employment and Earnings (Historical) B-1.

Through it, you can see that the preliminary numbers show that 2011 payrolls were about that of 2004. Compound this overall national loss of income with the population growth rate (no, I did not do the calculation) over the past seven years, and the US has certainly dropped considerably in per capita income.

“Goods producing” payrolls have dropped to a level below that when the data was first recorded in 1962. Certainly, the service sector has been growing while the manufacturing sector stagnated, then began to recede over the past three decades. However, there was about a 15% drop in 2009/10 that they haven’t recovered from.

Who *is* making money? Well, that would be the “Education and Health Services” segment. They’re rolling along quite well, thank you.

On a personal note about some of those “middle class” comments: I was an up-and-coming middle class member. After growing up in poverty (food stamps, donated Xmas gifts as a child, foster care), I worked my way into bleeding edge high tech and was touch and go with the $100K mark for a couple of years. Now, no matter what I apply for, I am “overqualified”. Either that, or I don’t have the *required* education for a position. Funny thing is, it never seemed to make any sense to pay tens of thousands of dollars to receive a degree from an institution on a subject that I had ALREADY BEEN TEACHING FOR A FULL DECADE.

The US education system needs a full re-vamping. It is pathetically behind the times and overpriced for the little it does produce. Sure, there are some good schools and avenues of study, but, overall, the system is severely lacking. We need to graduate high school students who can read, write, calculate and analyze. We need college educations to be more than a review of what should have been covered at the high school level. We need more cutting edge research in a wide range of fields – and we need it to be accessible to everyone.

If we continue to let our best and brightest of the next generations languish at all of these nonproductive service and retail jobs, then we deserve to fade into the mediocrity that we are currently destined for.

Enough of this. I’m going back to my job hunt. Somewhere, someone will hire me for a livable wage. In 2011, I earned less than I did 25 years ago when I started out: under $12K. I’ll be applying for welfare next week. After selling everything I owned piece by piece to make ends meet, I’ve lost the 3 year fight to avoid that demeaning experience.

By: PhillupSpace Sat, 07 Jan 2012 22:32:27 +0000 There are so many reasons america has lost the edge, more articles and hours would be required just to address them. So I will mention only a few.

Penalizing imports which results in retaliation from other nations puts us in the once tried position that deepened the abyss of the great depression. When we had ONLY ourselves to trade with (as we did then) we must shrink to a much smaller economy and accept a more modest life style.

Regulation for the purpose of creating work and power for regulators is rampant today. None of these increases the ease of production or increases american companies competetive position. In the middle of the celebrated Clinton years, 15 years ago, we had (according to a recent NYTimes article) 15 thousand less regulations! Regulators have been pumping out ten new ones per day, 24/7 for the last decade and a half! How many of those actually encumbered the economy and how many really did anything constructive at all? What was so terribly wrong in the prosperous Clinton years that needed more than a hundred new regs to rectify?

Labor costs are correctly identified as a large factor chasing manufacturing companies abroad. But that is only one of the smaller factors and not a determinant for the exodus. Japanese car companies as well as Mercedes and BMW build plants just down the street from Ford! Our labor costs do not force them to leave! Our labor costs will, as they should, remain higher but the problem can be improved by addressing the other causes which are largely regulatory and financial.

College graduates have jobs; they are not the big problem. The larger issue is employment for the person with the average level of schooling; that would be manufacturing and agriculture. Both which would raise the service industry (like all the other JFK boats).

The US could be a net exporter of energy and food. I would remind environmentalists that it is the burning of fossile fuels, not the pumping of oil that pollutes the air. We are throwing out the baby with the bathwater. I read that religeon is on the decline but I don’t agree. Man has always insisted on a religeon, inventing them as needed. Leaving church to worship a cause is little change.

People who follow the “horses” know that when an entry is carrying less weight (jockey and saddle) the commission loads that horse up with some lead weights.
Handicapping our own horse for fairness sake is no way to win! And we need to start winning, or at least cut our losses.

It is not people outside our borders killing our golden goose. Walt Kellys “Pogo recognized them: “We have met the enemy and he is us”! Us is in 51 Capitols; States and DC!

By: davidky Sat, 07 Jan 2012 19:12:07 +0000 Statistics can say just about anything but, in this case, they do not address underlying issues. One of the biggest concerns is the fact that a large percentage of people taking these jobs are now making a lot less than they were before. Whether or not they were previously making more than they should is not the issue. The fact that the vast majority of people getting hired are having to deal with severe downsizing in the home is a major problem.

By: scythe Sat, 07 Jan 2012 19:05:43 +0000 thanks david, good analysis of an important topic