Guest Post by Anthony Sanders
Both outgoing President Obama and lingering Federal Reserve Chair Janet Yellen are making claims about the number of jobs added under their leadership.
Yellen: “Job market strong, signs of wage growth.” And the “strongest job market in nearly a decade.”
Obama (during his farewell press conference last Friday): “Since I signed Obamacare into law, our businesses have added more than 15 million new jobs,”
Sounds impressive, unless you look closely at the numbers.
First, about the 15 million new jobs added since Obama signed Obamacare into law. The black box in the chart below shows the real average hourly wages since 2010 (through 2014). They were declining.
And, of course, my least favorite labor market chart: Average hourly earnings of production and nonsupervisory employees YoY (about 82% of the US population). The WORST wage recovery from a recession since President Lyndon B. Johnson.
Meanwhile, productivity growth has fallen to its lowest level since the Jimmy Carter malaise era.
In fairness to Obama and the Federal government, they did expand Medicaid, Welfare and food stamps (Snap) by 46% since Obama became President. Unemployment insurance and Social Security increased by 26% since December 2008. Partially to compensate for their poor track record for high paying job creation.
Wage growth is the worst since 1965 for most Americans. How is this the strongest job market in nearly a decade? Particularly when U-6 underemployment is still higher post recession that the previous two recessions?
So, it is literally a cyclone of bad news for the majority of American workers. None of whom will be attending the World Economic Forum in Davos Switzerland in January.
At least World Economic Forum attendees will be able to grab some swag in Davos!
Labor is like any commodity, it sells for whatever the market will bear.
As long as there is an excessive supply of labor to fill the positions available, the lowest wage people are willing to fill them for will be the prevailing wage.
Between Mexican and Central American imported labor on the low end and highly educated H1-B’s on the high end, labor has more than enough workers to offer so wages will continue to trend downward.
Now add AI to the high end and other robotics on the low end of the labor market to see what the future holds for you.
If you’re young, plan accordingly (wishful thinking is not a plan).
Correct on all points. They import illegals to pad their margins in entry level positions, bring in “legal” H1Bs to suppress the wages of skilled workers, and use globalization to crush every other job position into obscurity.
Responsible tariffs won’t bring back America’s glory days of manufacturing, but its a positive fucking step.
Next up is to knock off the H1Bs. Period. Unless the person you are bringing in is a literal one out of a handful worldwide, I don’t want to see that shit. We should not be bringing in Jordanian doctors, Chinese Chemists, and Indian Programmers to staff our white collar positions. That shit needs to end but fast.
Illegal immigrants. Don’t build a wall, that shit is expensive. Crack down on businesses who knowingly employ illegals, and reign back on the social “safety net” that Obama rigged up to buy more votes for the DNC.
Add blocking private non commercial money transfers back to the illegals home countries to that as well.
Here’s a thought about ‘wall’, just for fun. Turn the whole border corridor into a training ground, from the Pacific to the Gulf. All branches, welcome all Guards and LEOs. Armored, infantry, air, drone surveillance, urban, covert ops; every conceivable type of training in every type of terrain and environment. Electronic warfare, hands-on warfare. Constant cadres of trainees moving about 24/7. I could go into quite a bit more detail but I won’t belabor it; you get the idea.
@Lee – I had a similar idea. Mine was to close American bases over-seas and relocate a handful to the US/Mexico border. Kind of like Korea’s DMZ, we make all troops do a rotation along the line.
I bet the number of immigrants would dry up reeeeeaaaalll fast.
Bonuses and leave bounty system for troops who capture illegals and/or drugs. 1965 era combat zone rules of engagement. Fire on U.S. troops and they light up your world.
“That shit is expensive”. Really? How much will it cost? If you don’t know, then how can you say it’s expensive? The highest figure I’ve heard tossed around is $20 billion – or about 44 hours of federal spending. Put another way, it’s less than one half of one percent of annual federal spending. And it’s a one time expenditure. Expensive? Pshhhh.
Thanks. Add that the Fed has almost doubled interest rates since the election and is talking four more raises. That is an economic torpedo aimed at Trump that could hit in about six months. He needs to cut the head off the snake and give the job to the Treasury like the Constitution says. Also, watch Youtube Hidden messages in the new $100 bill (by Bix Weir) which shows some people in the Treasury in 1992 were trying to fight the NWO.
This ^^^ Cut off the head of the beast – kill the Federal Reserve and private banking interests being able to print money out of thin air. Inflation problem solved. If there was no inflation, the income chasm between the third worlders and us would not need to be so wide. Oh, and while your at it, kill the other parasite – the IRS. If both of those steps were taken, there would be a quick, but brief recession / depression, then a boom as business readjusted to the new world…What a glorious day that would be.
Kennedy (red seals) and Lincoln (greenbacks) both tried that.
Don’t know how it would have worked out though, both got shot in the head shortly afterward.
First and foremost the illegals have got to go. I can tell you how these criminals will SELF deport. Cut off all benefits and fine anyone who employs them $10,000 a day for every one they find. Easy. Anyone who came across the border illegally, everything they did after they got here is against the law, period. By definition they are all criminals. I guarantee you and I would go to jail for a whole lot less.
Greetings,
How about this – use RICO laws to seize the business of anyone that employs an illegal alien regardless of the size of the business. End all public benefits to any household that has an illegal living in it. Problem solved in 3. . .2. . . .1. . .
Exactly. What I said but the new and improved model.
Ordinary people have known from anecdotal evidence that the recovery is phony. Only foolish sheep being sheared have believed it,