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We have more employed people than ever, yet we have regressed in terms of %of population between ages 25-54 participating in the workforce. We have lost 4,000,0
by look_lookatme 11y ago
We have more employed people than ever, yet we have regressed in terms of %of population between ages 25-54 participating in the workforce. We have lost 4,000,000 manufacturing jobs in 15 years, despite wages languishing (in real dollars) and productivity increasing.
We have gained jobs in health -- this is to be expected with the aging boomer population.
We have gained jobs in transportation/logistics -- this is to be expected given all the stuff made in Chinese factories we buy from Amazon. Very soon these jobs will be automated, trucks will drive themselves and warehouses will stock themselves.
Worshippers at the altar of Free Market Economics (A Real Science) can wave around normalized, adjusted graphs all they want but if society doesn't figure out what to do with the people we graduate from high schools and colleges or layoff to pad quarterly earnings, we are going to have some serious issues on our hands in the next decade -- if not sooner.
- DrScump 11y ago<We have more employed people than ever> Only because we have more people, period, than ever. We are actually closer to our lowest-ever percentage employed than our highest ever[0] since 1950. And our workforce participation rate (i.e. where you don't ignore longstanding unemployed to dishonestly suppress reported unemployment stats) is still well below even the worst of Bush 43's tenure[1]. [0] http://www.tradingeconomics.com/united-states/employed-persons http://www.tradingeconomics.com/united-states/employed-perso... [1] http://www.tradingeconomics.com/united-states/labor-force-participation-rate http://www.tradingeconomics.com/united-states/labor-force-pa...