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|Subject: Re: Middle Class[Income] Jobs ain't Coming Back?||Date: 5/3/2013 7:34 AM|
|Author: tjscott0||Number: 680474 of 735003|
The article link is a rant about income inequality & anti federal reserve rant. But that viewpoint doesn't make the below factoids untrue.
If we are unable to generate middle income jobs; that means less disposable income which means less demand which means eventually less corporate profit which means poorer stock market returns. A disturbing thought for those like me relying on total stock returns [capital gains + dividends] to generate income in my retirement years. Especially since both parties support bigger government and have sold out to corporate & unions influences which means business as usual will continue until the collapse/bankruptcy of our nation.
In the United States today, corporate profits as a percentage of GDP are at an all-time high, but wages as a percentage of GDP are at an all-time low.
Back in 2007, about 28 percent of all working families were considered to be among "the working poor". Today, that number is up to 32 percent even though our politicians tell us that the economy is supposedly recovering.
At this point, one out of every four American workers has a job that pays $10 an hour or less.
Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.
Approximately one out of every five households in the United States is now on food stamps.
According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income".
Even if your income just stays the same, you are still getting poorer because inflation is a tax that is constantly chipping away at the value of every single dollar that you own. The cost of everything that we buy on a regular basis (food, gas, health insurance, etc.) is constantly going up, and if your income is not keeping pace that means that you are getting poorer.
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