The low wage employment tsunami: Low wage jobs now make up 25 percent of all employment in the United States.
The employment report continues to provide deceptive bread and circus fodder for the mainstream press. Never is any thorough analysis given to the 93+ million Americans that are now part of the “not in the labor force†category. In large part, we have a low unemployment rate because this massive army of Americans is simply […]
Student and auto debt fuel credit bubble 2.0: Student loans carry the highest delinquency rate of all debt classes. Student and auto debt up $1.15 trillion in last decade.
A large portion of our recent recovery has come from debt fueled consumption. The bailouts have been favorable to financial institutions but access to debt for American families has been in segments that are counterproductive to wealth accumulation. There is no benefit in having access to cheap loans for purchasing a car, an “asset†that […]
34 percent of Americans financially carry the country: Those not in the labor force hits another record at 93,194,000.
The unemployment rate is calculated by those in what is deemed the labor force. With the unemployment rate dropping you would think that somehow, we’d be back in a glorious economy where everyone was financially moving up. That is definitely not the case. Every single day we have 11,000 Americans hitting 65 years of age […]
Low wage America: People think minimum wage is for young workers but the average age of someone on minimum wage is 36. Half of Congress is made up of millionaires.
People have a hard time understanding the vast number of Americans working in low wage jobs. There is a very real reason why dollar stores paint the heartland. We also have 46 million Americans on food stamps. One of the big issues that we will certainly hear about during this campaign season is the erosion […]