A land of low-wage jobs: For every job that pays above the low-wage threshold of $15 an hour you have 7 job-seekers. 51.4 million low-wage jobs in U.S.
The Great Recession has only accelerated deeper structural changes to our economy when it comes to low-wage employment. While many good paying jobs were lost during the Great Recession many of the new jobs have come in the form of low-wage employment. Large organizations have used this slack in the market to reduce wages, cut […]
The big economies cannot avoid a soft default as they face their debt reckoning: U.S. and other central banks battle it out for artificially low interest rates on unsupportable levels of debt.
Would you lend money to someone that you knew would never pay you back? The answer is, probably not unless you are okay with burning through hard earned cash. The global central banks unfortunately have entered into terminal velocity when it comes to debt support. The U.S. carries a stunning $17.51 trillion in total public […]
The dual income conundrum – Americans need to work two jobs to make up for stagnant wages and the sinister impact of a middle class being eaten away by inflation.
In the United States the dual income household is the status quo. In the late 1960s dual income households were not common. Today however two income households are the majority largely because many Americans require two incomes just to stay afloat. This has been labeled as the “two income trap†and in many ways, it […]
Household debt first increase in 4 years largely driven by massive increases in student debt. Auto loans showed increase volume in sub-prime loans.
In a recent post we discussed how personal income growth is having tough go at the current economy. However, with incomes largely stuck in the quicksand of a mediocre economy for the working class, we see that the elixir of spending is back at the table again. Debt spending is making up for the lack […]