Skip to comments.Real Wages' Sharp Fall A Risk To Economy, Obama
Posted on 09/08/2011 7:09:36 AM PDT by Slyscribe
Real wages are falling sharply, pinching Americans' buying power and raising the risks for a fragile economy and President Obama's re-election hopes.
With more than 4 unemployed workers available for every job opening, pressure on wages has been intense.
Inflation-adjusted weekly earnings have fallen significantly in recent months, likely falling more than 1.5% vs. a year earlier in August. That would be the biggest drop since the height of the financial crisis in late 2008.
(Excerpt) Read more at investors.com ...
Buit its OK because GOVERNMENT EMPLOYEES are makeing just as much as ever, if not MORE
For a college fella he does not have even a rudimentary knowledge of macro economics.
What did he expect to happen when he pumped billions upon billions of dollars in to the economy? QE 1 and QE 2 could only light the fires of inflation.
Any 2nd year college student should learn that inflation has the effect of lowering the buying power of money which essentially lower real wages.
The effects of his Keynesian pump priming were easily predicted by most any reasonably intelligent person.
Only a Leftist ideologue would have expected any other result.
Do you think that the depressed wages of Americans has anything to do with immigration, legal and illegal?
The latest data show 22.1 million immigrants holding jobs in the U.S. with an estimated 8 million being illegal aliens. By increasing the supply of labor between 1980 and 2000, immigration reduced the average annual earnings of native-born men by an estimated $1,700 or roughly 4 percent. Among natives without a high school education, who roughly correspond to the poorest tenth of the workforce, the estimated impact was even larger, reducing their wages by 7.4 percent. The reduction in earnings occurs regardless of whether the immigrants are legal or illegal, permanent or temporary. It is the presence of additional workers that reduces wages, not their legal status.
The Bureau of Labor statistics for August 2011 show a national unemployment rate of 9.1 percent, including 16.7 percent for blacks and 11.3 percent for Hispanics. 25 million Americans are seeking full-time employment. Despite the economic downturn, the U.S. continues to bring in 125,000 new, legal foreign workers a month. This includes new permanent residents (Green Cards) and long-term temporary visas and others who are authorized to take a job. This makes no sense.
translation: Everybody into the Unions now, boys and girls...
We have no proof that Obama even attended College.