This has become such commonplace that it doesn't even garner headlines anymore.
Quote:With anxiety about the economy bubbling up on Wall Street and at campaign rallies around the country, the government reported on Friday that employers added 242,000 workers in February, a hefty increase that highlighted the labor market’s steady gains.
“We’ve got a real strong job market going,” said Carl Tannenbaum, chief economist at Northern Trust. “It does suggest that fears about a U.S. recession have been greatly overdone.”
Not going to bad mouth job growth other than to point out the wages are down and so are hours. Id be interested to see what these jobs are. My guess..Lots of them are in the service industries that do not pay much and are looking for part time workers. Until we address the inherent problem of loss of manufacturing jobs? This is the new normal.
When it took one job to keep you slightly above water now with obama care and it's rules the businesses are only taking part timers as a way of filling their job needs and those are part timers. So yes, it's obvious why there are a little more jobs. Durh.
(03-05-2016 01:48 PM)Fo Shizzle Wrote: Not going to bad mouth job growth other than to point out the wages are down and so are hours. Id be interested to see what these jobs are. My guess..Lots of them are in the service industries that do not pay much and are looking for part time workers. Until we address the inherent problem of loss of manufacturing jobs? This is the new normal.
once again....too many puppies....too little building....
(This post was last modified: 03-05-2016 04:16 PM by stinkfist.)
(03-05-2016 01:58 PM)olliebaba Wrote: When it took one job to keep you slightly above water now with obama care and it's rules the businesses are only taking part timers as a way of filling their job needs and those are part timers. So yes, it's obvious why there are a little more jobs. Durh.
The best measure of an economy is how fast people move up and out of the lowest economic quintile. We used to be among the best in the worlds. Now, most of the Western world is better than we are.
(03-07-2016 03:37 PM)Lord Stanley Wrote: The best measure of an economy is how fast people move up and out of the lowest economic quintile. We used to be among the best in the worlds. Now, most of the Western world is better than we are.
Quote:Just as the two sides have found something to agree on, however, a new study suggests the conventional wisdom may be wrong. Despite huge increases in inequality, America may be no less mobile a society than it was 40 years ago.
The study, by a clutch of economists at Harvard University and the University of California, Berkeley, is far bigger than any previous effort to measure social mobility. The economists crunch numbers from over 40m tax returns of people born between 1971 and 1993 (with all identifying information removed). They focus on mobility between generations and use several ways to measure it, including the correlation of parents’ and children’s income, and the odds that a child born into the bottom fifth of the income distribution will climb all the way up to the top fifth.
They find that none of these measures has changed much (see chart). In 1971 a child from the poorest fifth had an 8.4% chance of making it to the top quintile. For a child born in 1986 the odds were 9%. The study confirms previous findings that America’s social mobility is low compared with many European countries. (In Denmark, a poor child has twice as much chance of making it to the top quintile as in America.) But it challenges several smaller recent studies that concluded that America had become less socially mobile.
(03-07-2016 03:37 PM)Lord Stanley Wrote: The best measure of an economy is how fast people move up and out of the lowest economic quintile. We used to be among the best in the worlds. Now, most of the Western world is better than we are.
Quote:One interesting study examined the probability that a son will remain in his father's income quintile, where a quintile represents one-fifth of the population ranked from lowest to highest income. In that study of six countries (Denmark, Sweden, Finland, Norway, the United Kingdom, and the United States), the data demonstrate that 42 percent of the American sons of fathers born in the poorest quintile landed in the poorest quintile themselves. This rate of the persistence of poverty was far higher than the 30 percent found in the United Kingdom and well above the 25 percent to 28 percent range found in Denmark, Sweden, Finland, and Norway.
(03-07-2016 03:37 PM)Lord Stanley Wrote: The best measure of an economy is how fast people move up and out of the lowest economic quintile. We used to be among the best in the worlds. Now, most of the Western world is better than we are.
Quote:One interesting study examined the probability that a son will remain in his father's income quintile, where a quintile represents one-fifth of the population ranked from lowest to highest income. In that study of six countries (Denmark, Sweden, Finland, Norway, the United Kingdom, and the United States), the data demonstrate that 42 percent of the American sons of fathers born in the poorest quintile landed in the poorest quintile themselves. This rate of the persistence of poverty was far higher than the 30 percent found in the United Kingdom and well above the 25 percent to 28 percent range found in Denmark, Sweden, Finland, and Norway.
Those other countries also have a better safety net, don't they? Certainly the CEOs there aren't making hundreds of times what the average worker is, like you have here.
(03-07-2016 03:37 PM)Lord Stanley Wrote: The best measure of an economy is how fast people move up and out of the lowest economic quintile. We used to be among the best in the worlds. Now, most of the Western world is better than we are.
Quote:One interesting study examined the probability that a son will remain in his father's income quintile, where a quintile represents one-fifth of the population ranked from lowest to highest income. In that study of six countries (Denmark, Sweden, Finland, Norway, the United Kingdom, and the United States), the data demonstrate that 42 percent of the American sons of fathers born in the poorest quintile landed in the poorest quintile themselves. This rate of the persistence of poverty was far higher than the 30 percent found in the United Kingdom and well above the 25 percent to 28 percent range found in Denmark, Sweden, Finland, and Norway.
Thanks, but you said that most of the Western countries were better than us. That's what I was questioning. I know we're behind the European countries...but those aren't considered the West...are they?
(This post was last modified: 03-07-2016 04:05 PM by Redwingtom.)
(03-07-2016 04:02 PM)NIU007 Wrote: Those other countries also have a better safety net, don't they?
Perhaps. Additionally (and most helpfully) they have small homogeneous populations (perhaps debateable re: the United Kingdom)
(03-07-2016 04:02 PM)NIU007 Wrote: Certainly the CEOs there aren't making hundreds of times what the average worker is, like you have here.
That assumes that all the CEOs of the countries mentioned don't make considerable salary: of which they all do.
If you take all the money all the CEOs make and spread it across all the people, it's not a drop in the bucket.
This is a talking point, not an actionable item.
It doesn't assume that the CEO's of the countries mentioned don't make considerable salary, they obviously do. It just isn't nearly as big a spread as for US corporations.
The homogeneous populations certainly help, and there's nothing you can do about that regardless of who is in office or what school of economics they went to.
(03-07-2016 04:04 PM)Redwingtom Wrote: Thanks, but you said that most of the Western countries were better than us. That's what I was questioning. I know we're behind the European countries...but those aren't considered the West...are they?
I've always considered western Europe the West with Australia and New Zealand as well. I imagine a real deep dive into the 2016 definition of the western world adds other countries.
Regardless, the idea of the West as sharing certain fundamental political ideologies, including those of liberal democracy, the rule of law, human rights and gender equality is a good barometer.
(03-07-2016 04:11 PM)NIU007 Wrote: It doesn't assume that the CEO's of the countries mentioned don't make considerable salary, they obviously do. It just isn't nearly as big a spread as for US corporations.
I don't think the difference between the dollar value of compensation of non-American CEOs to the dollar value of compensation American CEOs is impactful to any economic measurements. There simply isn't enough money in that difference to make a difference.
And, large amount of executive compensation is non-monetary comp like stocks. It's doesn't mean that they can't vest those stocks immediately but it's not like that's cash money they are hoarding in a jar under the bed.
(This post was last modified: 03-07-2016 05:08 PM by Lord Stanley.)
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