Or is it?
We seem to have great news ever month and every quarter that the unemployment is down, jobs are created and the GDP is slow but looking good……right?
The media leaps onto the news with both feet…..they have to keep high end investors happy and optimistic….they need to help them make the decision on where to put their billions that they are holding…..all in all the macro sector is looking good….the micro sector sucks and sucks big time!
Explain to me how you can say that the economy is doing well when this is happening…..
Temp jobs made up about 10 percent of the jobs lost during the Great Recession, and because of high turnover (the average length of temp employment is 3 months before a worker moves on to a permanent job), one in 10 non-farm workers were employed by a US staffing firm at some point during the past year, according to ASA. In fact, nearly one-fifth of all jobs gained since the recession ended have been temporary.
Many workers now have to periodically revalidate their status via systems of “continuous professional development”; almost all work, no matter how menial, involves self-surveillance systems in which the worker is required to assess their own performance. Pay is increasingly correlated to output, albeit an output that is no longer easily measurable in material terms. For most workers, there is no such thing as the long term.
Part time work and low wages these are what some are calling a recovery…..to me there is NO recovery as long as Americans are being hampered from making an adequate living…..the only way for the economy to truly heal is to grow the Middle Class…..and how can we do that since corporations will not?
From the CAP Action War Room….and it is a good plan…..
- Investments in growing the middle class: Investing in education, infrastructure, energy, and innovation boosts the economy today and helps create the job creators and strong middle class that will fuel economic growth tomorrow.
- Everyone paying their fair share: Tax cuts for the wealthy and huge corporations don’t grow the economy. If the wealthy aren’t paying their fair share, we simply cannot afford to make the investments in the middle we need to in order to grow the economy.
- Minimum wage: Nobody who works full time in America should have to live in poverty. Raising the minimum wage will lift people out of poverty and create more consumers to help fuel the economy.
- Health security: Millions of Americans will soon have access to quality, affordable health care for the first time and the 85 percent of Americans who already have health insurance are seeing new benefits and better coverage as a result of Obamacare.
- Retirement security: We need to strengthen both Social Security and our private retirement system so middle-class Americans can afford to retire and live with dignity, a promise beyond the reach of too many.
- Affordable housing: The housing market is recovering, but we need to implement additional policies and reforms to help those who are still underwater and the millions who can’t get a loan to buy a home today.
The sad part is that there is not a elected official at any level, federal, state or local, that is willing to show courage and work for a plan to strengthen the Middle Class……..
Part time and temp employment. The wave of the future? One study finds that this generation of kids, especially men, may wound up making less than their parents. Without an economy that fosters a strong middle class, the American dream of home ownership, college for the kids and a retirement nest egg is rapidly disappearing in the U.S.
Larry, I have watched the trend you speak of for the last decade or so…..like you say….for the first time in history, the children will have a worse life than their parents…..sad….this needs to be pointed our daily until people see the trend clearly.