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Perhaps the lede got buried. >> Over the 12 months ending in August 2021, hires totaled 72.6 million and separations totaled 66.7 million, yielding a net empl
by ahurmazda 5y ago
Perhaps the lede got buried.
>> Over the 12 months ending in August 2021, hires totaled 72.6 million and separations totaled 66.7
million, yielding a net employment gain of 5.9 million. These totals include workers who may have been
hired and separated more than once during the year.
It’s a good thing that the workers have the leverage to ask for better pay, condition. The striketober [1] may even end up being a good thing for the economy.
[1] https://twitter.com/fareedzakaria/status/1452357666236420104 https://twitter.com/fareedzakaria/status/1452357666236420104
- rsj_hn 5y agoDo you really think there is a "striketober"? BLS data wont come out until Nov 31, but I'd gladly bet that there were fewer than 15K workers on strike in October 2021, out of a labor force of 165 Million, defined by BLS tracking. We can wager for honor, if you like.
- LurkingPenguin 5y agoI don't find many of Fareed's arguments supporting the "this will be very good for the economy" to be very convincing. Instead, they sound like a desperate attempt to put a positive spin on an economy that is clearly sick. Average hourly earnings have increased from $24.79 in September 2020 to $26.15 in June 2021. Great! How much has the price of goods and services increased during the same time? Rising wages that don't keep up with worrisome and probably-not-transitory inflation are not a good thing. And the whole bit about entrepreneurship sounds weird. What kind of business is the average person who couldn't find a job with acceptable pay really starting? Are these newly minted "entrepreneurs" really starting businesses that will be capable of paying themselves decent wages and providing adequate benefits?
- deleted 5y ago[deleted]