Comments on: Chart of the day, underemployment edition http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/ A slice of lime in the soda Thu, 23 May 2013 23:51:59 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: caveat bettor http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7934 caveat bettor Thu, 15 Oct 2009 00:08:43 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7934 how about too much in the way of average marginal tax rates, unemployment benefits and/or safety nets? i mean, there's never been less incentive to work. how about too much in the way of average marginal tax rates, unemployment benefits and/or safety nets? i mean, there’s never been less incentive to work.

]]> By: Bryan X http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7857 Bryan X Tue, 13 Oct 2009 01:29:06 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7857 Yeah. Decades of M&A, and outsourcing. Conditions that stifle innovation leaving big black holes where a real economy should be. I live in the ghetto-est ghetto. But I still can find a dozen stores within walking distance that will sell me Nikes and other sneakers made by eight-year-old Chinese girls. And Variety Stores loaded to the gills with Made in China goods for 99 cents or so. Maybe that\'s why unemployment is 17%... we all want stuff for 99 cents and no American factory can compete in that sort of consumer crap-fest. Yeah. Decades of M&A, and outsourcing.

Conditions that stifle innovation leaving big black holes where a real economy should be.

I live in the ghetto-est ghetto. But I still can find a dozen stores within walking distance that will sell me Nikes and other sneakers made by eight-year-old Chinese girls. And Variety Stores loaded to the gills with Made in China goods for 99 cents or so.

Maybe that\’s why unemployment is 17%… we all want stuff for 99 cents and no American factory can compete in that sort of consumer crap-fest.

]]> By: Not Unemployed anymore http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7855 Not Unemployed anymore Mon, 12 Oct 2009 23:52:10 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7855 I'd speculate that the robber barons have opted for part time workers so they can keep their workforce hungry and less likely to make trouble. AND, the absence of any benefits whatsoever offered to part timers makes this strategy very attractive to the ruling class. I’d speculate that the robber barons have opted for part time workers so they can keep their workforce hungry and less likely to make trouble. AND, the absence of any benefits whatsoever offered to part timers makes this strategy very attractive to the ruling class.

]]> By: Zardoz http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7849 Zardoz Mon, 12 Oct 2009 23:03:57 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7849 Because employers are trying to hoard labour until the recession passes, rather than sacking them now with the expectation of having to recruit them back in a couple of years. Let's hope they know something we don't about that whole recession-passing thing... Because employers are trying to hoard labour until the recession passes, rather than sacking them now with the expectation of having to recruit them back in a couple of years. Let’s hope they know something we don’t about that whole recession-passing thing…

]]> By: Bergamot http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7845 Bergamot Mon, 12 Oct 2009 21:26:36 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7845 I think it's pretty standard practice, when times are hard, to 1. Stop hiring new people 2. Fire non-essential people 3. Pay the rest less in that order. Option #3 is less desirable than #2 because it ruins goodwill among people you're still employing. From there, it makes perfect sense that this is simply the first recession in recent memory that is bad enough to force a significant portion of companies to adopt Option #3. I think it’s pretty standard practice, when times are hard, to

1. Stop hiring new people
2. Fire non-essential people
3. Pay the rest less

in that order. Option #3 is less desirable than #2 because it ruins goodwill among people you’re still employing.

From there, it makes perfect sense that this is simply the first recession in recent memory that is bad enough to force a significant portion of companies to adopt Option #3.

]]> By: KM http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7844 KM Mon, 12 Oct 2009 21:19:39 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7844 Outsourcing work benefits multi-national corporations, not employment in countries as wealthy as the US. Small business/large business owners are required to provide certain benefits to full-time employees but not part-time employees. 70% of our economy is now driven by consumer spending upon goods and services produced elsewhere and imported into the US. 90% of our wealth is concentrated in the hands of less than 10% of our population and they are not spending. The uncontrolled flow of illegal immigrants provides a free flow of cheap labor and places a downward pressure upon wages and employment opportunities. It's not difficult to figure out why unemployment and underemployment are at historical highs given the combination of the above. Outsourcing work benefits multi-national corporations, not employment in countries as wealthy as the US. Small business/large business owners are required to provide certain benefits to full-time employees but not part-time employees. 70% of our economy is now driven by consumer spending upon goods and services produced elsewhere and imported into the US. 90% of our wealth is concentrated in the hands of less than 10% of our population and they are not spending. The uncontrolled flow of illegal immigrants provides a free flow of cheap labor and places a downward pressure upon wages and employment opportunities. It’s not difficult to figure out why unemployment and underemployment are at historical highs given the combination of the above.

]]> By: Uncle Billy Cunctator http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/comment-page-1/#comment-7840 Uncle Billy Cunctator Mon, 12 Oct 2009 20:47:54 +0000 http://blogs.reuters.com/felix-salmon/2009/10/12/chart-of-the-day-underemployment-edition/#comment-7840 Didn't I share my flawed "neck ring" theory already? Finance was our neck ring. We removed it and the atrophied muscle (dead real economy) let our head fall over. This would be a nice description, except that in real life the neck muscles supposedly don't atrophy much. Didn’t I share my flawed “neck ring” theory already? Finance was our neck ring. We removed it and the atrophied muscle (dead real economy) let our head fall over. This would be a nice description, except that in real life the neck muscles supposedly don’t atrophy much.

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