The Crummy Good Economy and the New Serfdom

For about a year now, the unemployment rate has been around 4%. That’s supposed mean full employment, labor shortages, and rising pay. But the latest earnings report is the same old story: no gains in real hourly wages from June of 2017 through June of 2018. Most employers have been able to find new workers without having to raise pay offers.

What’s going on?  There are screwball right-wing diversions and explanations. A Trump economist, D. J. Norquist, opines that it will take time for the Republican tax-cuts to work their way through the economy. As an explanation, this is nonsense. Just because the lords of creation get more money doesn’t mean more will filter down to workers. We have the evidence of forty years on that issue. Then we have Stephen Moore at the Heritage Foundation. He suggests that the economy might be creating a disproportionate number of low-wage jobs, which could outweigh rising wages higher on the job ladder. But this is not happening. And if it were, we would be right back to asking why a booming labor market was generating more lousy jobs.

via Counterpunch The Crummy Good Economy and the New Serfdom

One thought on “The Crummy Good Economy and the New Serfdom”

  1. HERE IN FULTON COUNTY GEORGIA, AND OTHER PLACES IN GEORGIA, WE ARE STRUGGLING FROM ONE PART TIME JOB TO THE NEXT, AND THESE JOBS DO NOT EVEN COVER THE RENT. RENTS HERE ARE ALSO GOING SKY HIGH, AND IN SOME PLACES JUST FOR A STUDIO APARTMENT THEY WANT $2,500.00 MONTHLY. HERE WE HAVE A BAIT AND SWITCH SITUATION, THEY PROMISE ONE THING WHEN YOU ARE HIRED, THEN WHEN YOU START WORKING THINGS BECOME A WHOLE LOT DIFFERENT. THERE ARE VAST AGE DISCRIMINATION HERE, AND THERE IS A SILENT WAR GOING ON BETWEEN THE YOUNG AND THE OLDER WORKERS. ALSO, IF ANYONE REGISTERS FOR THIS JOB SITE AND PARTICIPATES IN FORUMS AND DISCUSSIONS, THEY WILL FIND ON A NATIONWIDE BASIS, THAT LIVING AND SURVIVING CONDITIONS ARE DEVASTATING. THESE ARE PEOPLE WITH ACTUAL REAL LIFE ISSUES, TRYING TO HELP OTHERS WITH REAL LIFE ISSUES.

    https://www.jobcase.com/

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