Tag Archives: jobs

The False Jobs Recovery: Low Unemployment Rate Misses Key Points

The False Jobs Recovery: Low Unemployment Rate Misses Key Points
Note: As the corporate media talks about the need to begin to raise interest rates because unemployment is decreasing they fail to report the key point — the major reason unemployment is down is not because of sufficient new jobs but because more Americans have given up trying to work. Unemployment figures have been distorted over the years so this reality is hidden from the unemployment rate. The other important point not emphasized ... Read more

America Has More Low-Paying Jobs Than Any Other Developed Country

America Has More Low-Paying Jobs Than Any Other Developed Country
The U.S. has more low-paying jobs than any other country in the Organisation for Economic Co-operation and Development, an economic group of 34 developed countries, according to research by Morgan Stanley.  On average, around 16 percent of jobs in OECD countries are considered low-paying. In the U.S., over 25 percent of all jobs qualify as such. The ranking reflects America’s problem with income equality.  By Kevin Short The Huffington ... Read more

Full Employment and the Path to Shared Prosperity

Full Employment and the Path to Shared Prosperity
There are many policies that can reduce inequality, but there is none as straightforward conceptually and as difficult politically as full employment. The basic point is simple: at low rates of unemployment, the demand for labor allows workers at the middle and bottom of the wage distribution to achieve gains in hourly wages, annual hours of work, and thus income. Levels of unemployment are not the gift or curse of the gods; they are the ... Read more

Saving American Cities

Saving American Cities
So we've talked about before about what the Fed could do in terms of trying to force banks to invest more in the economy. They've been shoveling money to the big banks to keep them liquid. Of course, it's done far more than just keep them liquid. They've used all this money and they've been making a killing, a killing, record profits. But the question is: why aren't they doing more for the basic economy? And one would think one could start ... Read more

The Rules of Revolt

The Rules of Revolt
There are some essential lessons we can learn from the student occupation of Beijing’s Tiananmen Square, which took place 25 years ago. The 1989 protests began as a demonstration by university students to mourn the death of Hu Yaobang, the reformist Communist Party chief who had been forced out by Deng Xiaoping. The protests swiftly expanded to include demands for an end to corruption, for press freedom and for democracy. At their height, ... Read more

Enthusiasm High for a New Economy for Baltimore

Enthusiasm High for a New Economy for Baltimore
With growing recognition that the economy fails to serve the interests of most people, alternative institutions and processes based on economic democracy are beginning to pop up everywhere. This movement points to what is called by some as “the New Economy.” Throughout the country people are joining a global movement to create structures grounded in democratic control of community wealth – an economy of, by, and for the people. On May 16 ... Read more

Latest Jobs and Housing Reports Show Americans are Struggling More than Ever

Latest Jobs and Housing Reports Show Americans are Struggling More than Ever
The latest nationwide jobs and housing statistics released this week suggest that America is no longer a country where—for most people—the future is going to be better than the past. The percentage of people in most age and education levels in jobs compared to 2008 is down. The number of people holding multiple jobs is up. Average hourly wages have barely grown, compared to 2008. The number of people who are willing to leave their job for a ... Read more

Worst. Anniversary. Ever. #TrillionDollarDebt

Worst. Anniversary. Ever. #TrillionDollarDebt
This week marks the two-year anniversary of student loan debt topping $1 trillion nationally — and another year of missed opportunities to address this growing crisis. That $1 trillion represents the second-largest personal debt in the United States. But even that jaw-dropping reality doesn’t tell the stories of millions of borrowers who are hamstrung by federal student loan policies and the lack of meaningful action to address this crisis. ... Read more

40% Of US Workers Now Earn Less Than 1968 Minimum Wage

40% Of US Workers Now Earn Less Than 1968 Minimum Wage
Are American workers paid enough? That is a topic that is endlessly debated all across this great land of ours. Unfortunately, what pretty much everyone can agree on is that American workers are not making as much as they used to after you account for inflation. Back in 1968, the minimum wage in the United States was $1.60 an hour. That sounds very small, but after you account for inflation a very different picture emerges. Using the ... Read more

Here’s Why This City’s Businesses Love Its Paid Sick Days Law

Here’s Why This City’s Businesses Love Its Paid Sick Days Law
The majority of Seattle businesses support the paid sick leave requirement that went into effect in September of 2012 and report few, if any, costs or challenges, according to a new audit from the Seattle Office of the City Auditor with help from the University of Washington. The audit found that 70 percent of employers in the city support the law, with 45 percent saying they are very supportive. This held true for businesses of all sizes. ... Read more