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Keyword: wages

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  • 10 Cities Where Wages Are Soaring

    07/17/2014 7:40:08 AM PDT · by SeekAndFind · 11 replies
    Wall Street 24X7 ^ | 07/16/2014 | By Alexander Kent and Alexander E.M. Hess
    Although there are many signs the economy is improving, average weekly wages in the United States remained stagnant throughout 2013. This was a notable change from a year earlier, when weekly wages rose 4.7% over the same period. Despite flattening nationally, wages posted strong growth in some metro areas. In six of the 10 metro areas, wages grew at least 6%. In Idaho Falls, wages grew by 18.4% between the fourth quarters of 2012 and 2013. Based on data from the Bureau of Labor Statistics (BLS), these are the metro areas where wages are soaring.Click here to see the 10...
  • EPA backs off on wage garnishment rule

    07/16/2014 8:20:28 AM PDT · by jazusamo · 20 replies
    The Hill ^ | July 16, 2014 | Benjamin Goad
    The Environmental Protection Agency is rescinding regulations allowing the agency to garnish wages of those it says are delinquent on debts. A notice to be published in Thursday’s Federal Register formally withdraws the rule, issued earlier in the month. “In the direct final rule, EPA stated that if adverse comments were received by August 1, 2014, the direct final rule would be withdrawn and not take effect,” according to the terse notice. “EPA received adverse comments on that direct final rule.” However, the agency did not rule out proceeding with another version of the measure via a more deliberative rulemaking...
  • These Three Charts Show Inflation Is Finally Right Around The Corner

    07/07/2014 8:22:17 PM PDT · by Citizen Zed · 16 replies
    Business Insider ^ | 7-5-2014 | JOE WEISENTHAL
    1. Historically, when Capacity Utilization is as high as its now (suggesting not much industrial slack) the inflation rate has been much higher. 2. According to survey data from the National Federation of Independent Businesses, more and more companies are saying they can't find qualified applicants for job openings. 3. Survey data shows a big increase in the number of businesses who say they plan to raise wages in the future.
  • The Obama "Spoons" Job Recovery: More Jobs Added, But at Lower Wages (More Part-time Jobs)

    07/05/2014 7:33:38 AM PDT · by MRourke85 · 8 replies
    Confounded Interest ^ | 07052014 | Anthony B. Sanders
    I read conflicting analysis of whether the Obama jobs recovery is better than the George W. Bush jobs recovery. Daily Kos, for example, chastises the GW Bush recovery for having the slowest job recovery in 75 years. It is similar to the age old debate of whether Mickey Mantle was better than Willie Mays. At least Mantle and Mays played roughly at the same time (1950s and 1960s). Bush and Obama each inherited teetering economies and did not serve at the same time. Thus, it is more difficult to compare GWBush versus Obama than a simple Mantle/Mays comparison. Lets begin...
  • The Insiders: This months jobs headlines dont tell the true story

    07/04/2014 6:03:26 PM PDT · by xzins · 9 replies
    Washington Post ^ | July 3 | Ed Rogers
    The headline of todays jobs report, that 288,000 jobs were created in the last month, is positive. At least, it is better than a poke in the eye with a sharp stick. However, as with most economic reports these days, there is a veneer of good news but when you look closer, the White House is using the positive headlines to hide the growing deterioration of the American workforce. Last month, 523,000 full-time jobs were lost, while 799,000 part-time jobs were added. Another way of looking at these numbers is that almost all of the 288,000 jobs created last...
  • Hobby Lobby Wage Boost Rankles Democrats

    07/04/2014 6:43:29 PM PDT · by John Semmens · 28 replies
    Semi-News/Semi-Satire ^ | 4 July 2014 | John Semmens
    With the liability of being forced to finance employees' abortions taken off its back by the recent Supreme Court voiding of the Obamacare mandate, Hobby Lobby announced it is raising the minimum wage of its full-time employees to $14.50 per hour. Aspiring presidential candidate Hillary Clinton dubbed the move "a callous and insensitive slap in the face to American women. This company went to a lot of effort to deny its responsibility to insure the reproductive health of its female employees. Now that they've won a totally unfair verdict in court they're insulting these imperiled women by investing the costs...
  • Employees Who Stay In Companies Longer Than Two Years Get Paid 50% Less

    06/23/2014 12:08:26 PM PDT · by SeekAndFind · 44 replies
    Forbes ^ | 06/23/2014 | Cameron King
    The worst kept secret is that employees are making less on average every year. There are millions of reasons for this, but were going to focus on one that we can control. Staying employed at the same company for over two years on average is going to make you earn less over your lifetime by about 50% or more. Keep in mind that 50% is a conservative number at the lowest end of the spectrum. This is assuming that your career is only going to last 10 years. The longer you work, the greater the difference will become over your...
  • The Wages Of Young Female College Grads Are Lower Today Than In 1989

    05/16/2014 9:09:03 AM PDT · by SeekAndFind · 22 replies
    Business Insider ^ | 05/16/2014 | ALYSSA DAVIS, EPI'S WORKING ECONOMICS BLOG
    One of the most shocking findings from Heidi Shierholzs, Will Kimballs, and my research on young graduates is that inflation-adjusted wages for young female college graduates are lower today than they were in 1989. Average real wages for young female college graduates are currently $15.29, whereas 25 years ago they were $16.12 (in 2013 dollars) a decrease of 5.2%. This is part of a wider trend of wage stagnation and decline since 1989 for both men and women. For all college graduates ages 21-24 (male and female combined), wages today are only 2.4% higher than they were in 1989....
  • Billionaires try to convince Americans its good to import foreign workers, increase immigration

    05/06/2014 12:47:27 PM PDT · by amnestynone · 62 replies
    Bangaor Daily News ^ | May 05, 2014 | Jonette Christian
    Billionaires buy whatever they want. And not just mansions and Teslas but elections and legislation. The recent Supreme Court decision lifting caps on campaign contributions gives them even more power. The libertarian Koch brothers have already pumped millions into this years elections. But Michael Bloomberg, Mark Zuckerberg, Rupert Murdoch and George Soros are no less guilty of buying our political system, and all of them, from libertarian Koch brothers to liberal Soros, are united in one cause: Bring in more foreign workers, increase job competition, and allow market forces to drive down wages. Since 2007, political lobbies spent a whopping...
  • Happy Easter: Worker Sends 1,000 Ducklings to Bosss Home in Wages Dispute

    04/19/2014 6:20:17 PM PDT · by nickcarraway · 14 replies
    Metro UK ^ | Saturday 19 Apr 2014
    A disgruntled worker hatched an unusual revenge plot against his former boss when he sent more than 1,000 baby ducks to his home. Builder Chiu Xiang arranged for the 1,130 live ducklings to be dropped in the home of his employer, Hung Bin, in a dispute over wages. The 60-year-old, who worked for Bin for three years, said he was owed 300 in unpaid wages after quitting his job in Chinas Sichuan province last year, according to the Shanghaiist. It was all he deserved, he said. I hope the ducks drove him quackers. Xiang organised for a contact who runs...
  • This is the huge question Democrats wont (and can't) answer as they peddle the gender wage gap myth

    04/09/2014 3:14:40 PM PDT · by The Looking Spoon · 18 replies
    The Looking Spoon ^ | 4-9-14 | The Looking Spoon
    See a comprehensive takedown of liberals on this issue at Legal Insurrection.
  • 9 Of The Top 10 Occupations In America Pay An Average Wage Of Less Than $35,000 A Year

    04/03/2014 2:55:01 PM PDT · by SeekAndFind · 45 replies
    TEC ^ | 04/03/2014 | Michael Snyder
    According to stunning new numbers just released by the federal government, nine of the top ten most commonly held jobs in the United States pay an average wage of less than $35,000 a year. When you break that down, that means that most of these workers are making less than $3,000 a month before taxes. And once you consider how we are being taxed into oblivion, things become even more frightening. Can you pay a mortgage and support a family on just a couple grand a month? Of course not. In the old days, a single income would enable a...
  • The High Costs of Obamacare

    03/16/2014 11:38:15 AM PDT · by Innovative · 12 replies
    Real Clear Politics ^ | March 16, 2014 | Jack Kelly
    Obamacare will reduce the earnings of its 300,000 members by up to $5 an hour by requiring them to buy health insurance, according to a report by Unite Here, a union which represents chiefly lower-wage workers in service industries. The union said it threatens the middle class with higher premiums, loss of hours and a shift to part-time work and less comprehensive coverage. Americans who says theyve been hurt by Obamacare outnumber those who say theyve benefited from it by more than 2 to 1, according to recent polls by both Rasmussen and Gallup.
  • Milford crowd confronts Malloy on gun laws, wage increase

    03/06/2014 6:48:18 AM PST · by Biggirl · 2 replies
    New Haven Register ^ | March 6, 2014 | Jennifer Swift
    MILFORD >> Residents with a collage of questions and suggestions made their way to the microphone held by Lt. Gov. Nancy Wyman at a town hall event in Milford. Gov. Dannel P. Malloy stood at the lectern in City Hall Wednesday to answer as many questions he could in an hour or directed people to the right staff member to contact to follow up.
  • Are We Entering Another Stagflation Era?

    02/19/2014 6:04:43 AM PST · by IBD editorial writer · 14 replies
    Investor's Business Daily ^ | 02/18/2014 | IBD Staff
    Economy: Food and energy prices are rising, wages are flat and the top concern among Americans is unemployment. What was that word coined in the '70s to describe a stagnant economy suffering inflationary pressures? Since the Obama "recovery" started 4-1/2 years ago, inflation appears to have been relatively tame, with core prices climbing just 7% from June 2009 to December 2013. But as CBS News discovered when it looked a little closer, the overall number is deceptive. In fact, it found food prices soaring. The official inflation data confirm this. Overall, food prices are up 9% since June 2009, according...
  • Obamacares $70 billion pay cut

    02/10/2014 9:05:19 PM PST · by 2ndDivisionVet · 3 replies
    The Washington Post ^ | February 10, 2014 | Marc A. Thiessen
    In his State of the Union address, President Obama urged Congress to give America a raise. Well, it turns out that Obama is giving America a $70 billion annual pay cut, courtesy of Obamacare. That is the overlooked nugget in the new Congressional Budget Office report detailing the economic costs of Obamacare. While much attention has been paid to the reports finding that Obamacare will reduce employment by as much as 2.5 million workers, buried on page 117 (Appendix C) is this bombshell: CBO estimates that the ACA will cause a reduction of roughly 1 percent in aggregate labor compensation...
  • Minimum Wages: Few Benefits, Many Consequences

    02/10/2014 2:25:41 PM PST · by ThethoughtsofGreg · 4 replies
    American Legislator ^ | 2-10-14 | Will Freeland
    President Obamas recent State of the Union address was the culmination of months of advocacy from Democrats and activists for a higher minimum wage. The President proposed a raise to the minimum wage for federal contractors by executive order to $10.10 per hour and called on Congress to raise the national minimum wage for all workers to the same mark, along with indexing it to inflation. A raise of the national minimum wage was framed as giving low income workers the living wage they deserve and fighting perceived growth in income inequality in America. Though the Presidents proposal is well...
  • Almost Everything You Have Been Told About The Minimum Wage Is False

    02/04/2014 6:36:13 AM PST · by ThethoughtsofGreg · 23 replies
    Forbes ^ | 1-30-13 | Jeffrey Dorfman
    The Democrats, their union supporters, and liberals in general are making a hard and concerted push for an increase in the minimum wage. President Obama mentioned the subject prominently in his State of the Union address on Tuesday night and even promised to take executive action to increase the minimum wage federal contractors must pay their workers starting in 2015. While Republicans and small business owners are sure to resist this push, it is important that everyone on both sides debates the issue with the correct facts. Much of what you hear about the minimum wage is completely untrue. First,...
  • How to Increase Unemployment: Gang of Eightstyle reform would depress wages of low-skill workers.

    01/10/2014 5:03:31 AM PST · by SeekAndFind · 3 replies
    National Review ^ | 01/10/2014 | Andrew Stiles
    Five years after winning control of the White House and Congress, Democrats cant wait a minute longer for a serious conversation about income inequality, a problem that is considerably worse under President Obama than it was under his much-maligned GOP predecessor. Republicans naturally accuse the president of wanting to double down on anti-poverty measures that havent worked, but they too seem eager to engage the issue. This decision to make income inequality the priority issue in 2014 is noteworthy in light of last years priority issue: comprehensive immigration reform. Although dormant for the past few months, immigration reform is still...
  • McDonald's shuts down internal website

    12/27/2013 4:30:47 AM PST · by SoFloFreeper · 27 replies
    WWLP-TV ^ | 12/27/13
    McDonalds has pulled an internal website that advised its workers to avoid eating the fast food it sells... It was the last straw after a long list of embarrassments calling even more attention to what workers are already protesting that it's hard to live on a McDonalds wage. If everyone is talking about these gaffes and pr nightmares, that just draws attention to the fast food strikes and I don't think that's what McDonalds should be drawing attention to, said CNN money writer Emily Fox Recently the web site instructed McDonalds workers how to find a second job, sell off...
  • Influential voices in food movement seek better worker wages

    12/25/2013 10:57:28 AM PST · by thecodont · 42 replies
    San Francisco Chronicle / ^ | Updated 10:01 pm, Tuesday, December 24, 2013 | Joe Garofoli
    Since he wrote "Fast Food Nation" more than a decade ago, muckraking author Eric Schlosser has noticed a sympathy gap in the food movement that he helped foster. Some foodies seem to care more about the treatment of the animals they eat than the workers who prepare and serve them. "It's not all foodies by any means," Schlosser said. "But the food movement can get sidetracked into wealthy, upper-middle-class people caring about food as status, caring about food as pleasure. I'm a huge supporter of animal welfare, but the compassion for the abuse of animals is so much more excessive,...
  • Rising riches: 1 in 5 in US reaches affluence

    12/09/2013 11:08:41 PM PST · by 2ndDivisionVet · 15 replies
    The Associated Press ^ | December 9, 2013 | Hope Yen
    Fully 20 percent of U.S. adults become rich for parts of their lives, wielding extensive influence over America's economy and politics, according to new survey data. These "new rich," made up largely of older professionals, working married couples and more educated singles, are becoming politically influential, and economists say their capacity to spend is key to the U.S. economic recovery. But their rise is also a sign of the nation's continuing economic polarization. They extend well beyond the wealthiest 1 percent, a traditional group of super-rich millionaires and billionaires with long-held family assets. The new rich have household income of...
  • A United States 'Spring' Coming?

    12/08/2013 8:59:20 AM PST · by 2ndDivisionVet · 57 replies
    ABC News ^ | December 5, 2013 | Matthew Dowd
    Could an "Arab Spring" type of upheaval be brewing in the United States? Is the frustration and anger toward our dysfunctional politics and economics beginning to reach a tipping point where young folks begin to push for profound change? Has our democracy become so broken that citizens are going to find creative avenues to express their feelings? Will we pass through the holidays and winter of our dysfunction to arrive at a spring of change? I sense a movement of social unrest growing strongly and quietly towards our own version of the Arab Spring. Let's take a look at some...
  • How Obama can bypass Tea Party Congress (and raise fast food worker wages)

    12/04/2013 5:59:31 PM PST · by Libloather · 14 replies
    Salon ^ | 12/04/13 | Josh Eidelson
    The White House has offered no response to a months-old call from congressional Democrats to bypass Congress and use executive action to raise workers wages, the co-chair of the Congressional Progressive Caucus told Salon Tuesday afternoon. It wasnt responded to, said Rep. Raul Grijalva, D-Ariz. I mean, the response would have been, Were working on it, were looking into it, We feel its a good idea, or, No, were not going to do it. Any of those is a response. We received none of that. Grijalva pledged that, starting with a Thursday rally at the National Air and Space Museum,...
  • Minimum Wage Battles in Michigan

    11/26/2013 1:11:26 PM PST · by MichCapCon · 8 replies
    Capitol Confidential ^ | 11/24/2013 | James Hohman
    One of the seven principles of sound public policy is that we consider long-run effects and all people, not short-run effects and a few people. The latest push for an increase in the minimum wage could use more of a consideration of the long-term effects on all people. The stated goal of proponents for a higher minimum wage is to help struggling families, according to Fight for 15, the union-sponsored group supporting fast food strikes around the country. In 2012, however, 55 percent of all minimum wage workers were between 16 and 24 years old, according to the Bureau of...
  • Switzerland's Proposed New Law To Link Executives' Pay With Their Lowest Paid Workers

    11/19/2013 12:10:37 PM PST · by SeekAndFind · 35 replies
    Business Insider ^ | 11/19/2013 | CAROLINE COPLEY
    Switzerland will vote on Sunday on whether to limit the salaries of top executives so they don't earn more in a month than the lowest paid workers earn in a year, a move that could mean big pay cuts for business leaders earning millions. The so-called 1:12 initiative for Fair Pay, the latest attempt to narrow a growing wage gap in one of the world's wealthiest nations, was brought about by the youth wing of the Social Democrats (JUSO), who gathered the 100,000 signatures needed to force a nationwide vote. Despite its high standard of living, Switzerland is a generally...
  • Obama courting CEOs on immigration widens conservative split, raises issue of corporate motives

    11/10/2013 5:41:32 AM PST · by KeyLargo · 11 replies ^ | Nov 10, 2013
    POLITICS Obama courting CEOs on immigration widens conservative split, raises issue of corporate motives Published November 10, 2013 President Obama's courting of top U.S. executives this week to help get the Republican-controlled House to pass immigration reform is furthering the divide among conservatives, with a top GOP senator and others suggesting corporate America is lending its support with hopes of getting more access to low-cost immigrant labor. The president said before the White House meeting Tuesday that he and others who support comprehensive immigration reform passed in the Senate know the politics are challenging in the House and that...
  • BLS: Real Median Earnings Dropped In Q3 2013, Down 3.5% Since End Of Recession

    11/01/2013 1:14:07 PM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 11/01/2013 | Anthony B. Sanders
    According to the Bureau of Labor Statistics, the real median earnings of Americans dropped in the third quarter of 2013. blsheaderrealmedianwage According to the National Bureau of Economic Research (NBER), the great recession ended in June 2009. Since the end of the Great Recession, real median earnings for Americans have dropped 3.5%. Any wonder why mortgage purchase applications are so low mbapurchase1995 and money velocity is dying? m2velosp20
  • Data Center: Current and projected average BART wages

    10/16/2013 6:18:40 AM PDT · by artichokegrower · 8 replies
    San Jose Mercury ^ | Oct. 15, 2013 | Daniel J. Willis
    To help you keep track of where both sides stand in the BART contract negotiations, here are our best estimates of current average salaries by bargaining unit based on the 2012 Public Employee Salary Database. This page will be updated as new contracts are proposed. Last updated 5:26 pm Oct. 14 to reflect the latest contract proposal by BART management.
  • Strippers Are Protected by Labor Laws, Judge Says

    09/11/2013 4:34:24 AM PDT · by SoFloFreeper · 6 replies
    NY TIMES ^ | 9/10/13 | PATRICK McGEEHAN
    As she shook her bare backside for the sparse afternoon crowd at Ricks Cabaret, the dancer introduced as Vanessa appeared to be more committed to her work than the typical clock-puncher. But a federal judge ruled on Tuesday that she and her fellow strippers were hourly workers who deserved at least the minimum wage. The judge, Paul A. Engelmayer of the Southern District, ruled that the dancers who strip to their G-strings and stilettos every day and night at Ricks are indeed employees protected by federal and state labor laws. The ruling came in a class-action lawsuit filed on behalf...
  • Burger Restaurant To Pay Entry Level Workers $15 An Hour

    09/11/2013 1:51:54 AM PDT · by SoFloFreeper · 66 replies
    Opposing ^ | 9/9/13 | Michael Allen
    ... a local burger joint outside of Detroit, Mich. is going to start to paying $15 an hour to new employees on October 1. Moo Cluck Moo is currently paying its entry level employees $12 an hour, far above the state minimum wage of $7.40. We always wanted to be at $15 an hour. It just feels human to do it. Its not an easy job to do.
  • Labor Days Blues: Employee Compensation Falls In July As Labor Day Weekend Begins

    08/30/2013 7:57:59 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 08/30/2013 | Anthony B. Sanders
    As we enter the Labor Day weekend when we are supposed to be celebrating hard-working Americans, we get the monthly personal income and spending numbers from the Bureau of Economic Analysis (BEA). Personal income rose .. 0.1% in July. pitab083013 compensation of employees, the core component of personal income, fell by $21.9 billion, the was the biggest monthly slide decline since May 2012. pi083013 Another view of declining employee compensation. Compensation Employees_0 And my favorite chart of declining real household income: household-income-monthly-median-growth-since-2000 Chicago Purchasing Managers Index printed at 53.0 in August, up from 52.3 in July. But there was a...
  • Fast-food strikes scheduled for August 29, day after March on Washington [Nationwide]

    08/28/2013 10:17:22 AM PDT · by SoFloFreeper · 30 replies
    The Grio ^ | 8/27/13 | Carrie Healey
    On August 29th, the day after the 50th anniversary of the March on Washington, fast-food workers around the nation are planning to strike for better pay and working conditions. Workers going on strike are demanding $15 an hour wages, mirroring the demand for $2 an hour the organizers of the 1963 march made.
  • Data Indicate Forced Union Dues-Paying Factory Workers Have Far Less Job Security, Lower Wages

    08/22/2013 10:11:07 AM PDT · by willowsdale · 7 replies
    A front-page Wall Street Journal article published at the beginning of this week (see link below) and other news reports are calling public attention to the fact that, after many years of decline, manufacturing employment in the U.S. has modestly rebounded since the end of the Great Recession. Unfortunately, the Journal account and others appearing in major media outlets ignore data showing that even as the total number of manufacturing jobs increased by roughly 480,000 from 2009 to 2012, the number of factory jobs held by unionized workers fell by nearly 130,000. (Our source for these figures and those in...
  • Obama Says Income Gap Is Fraying U.S. Social Fabric

    07/28/2013 12:33:30 AM PDT · by 2ndDivisionVet · 41 replies
    The New York Times ^ | July 27, 2013 | Jackie Calmes and Michael D. Shear
    GALESBURG, Ill. In a week when he tried to focus attention on the struggles of the middle class, President Obama said in an interview that he was worried that years of widening income inequality and the lingering effects of the financial crisis had frayed the countrys social fabric and undermined Americans belief in opportunity. Upward mobility, Mr. Obama said in a 40-minute interview with The New York Times, was part and parcel of who we were as Americans. And thats whats been eroding over the last 20, 30 years, well before the financial crisis, he added. If we dont...
  • American Cities Where Wages Are Soaring

    07/15/2013 8:01:27 AM PDT · by SeekAndFind · 6 replies
    Wall Street 24X7 ^ | 07/15/2013
    The average wage of a U.S. worker was $1,000 per week in the fourth quarter of 2012, or 4.7% higher from the same time in 2011, according to the Bureau of Labor Statistics (BLS). In some areas, pay rose than 10%. In the San Francisco metropolitan area, the average wage grew by nearly 25%, more than any area in the country. Based on the BLS Quarterly Census of Employment and Wages, these are the cities with the biggest increases in pay.Click here to see the cities where wages are soaringClick here to see the cities where wages are plummetingIn an...
  • Gun-loving states in frenzy over Connecticut gun makers

    06/17/2013 8:13:40 AM PDT · by EXCH54FE · 13 replies
    Guns.Com ^ | June 17, 2013 | Daniel Terrill
    Yesterday, Texas came a knocking. While most would assume that with the Lone Star States love of guns would pair the two together better than peas and carrots, Gov. Rick Perry will have to bring more than just a box of chocolates and some bright red roses. He aims to woo them with things like low taxes, fewer regulations and offer an economic incentive package. On top of the sweet talk, Perry has been laying ground work since the National Rifle Associations annual convention last month (check out his intro video) and, as of his arrival yesterday, with TV and...
  • Who Needs Immigrant Labor? You cant have a real discussion without mentioning wages.

    06/11/2013 7:20:27 AM PDT · by SeekAndFind · 25 replies
    National Review ^ | 06/11/2013 | Thomas Sowell
    One of the most common arguments for allowing more immigration is that there is a need for foreign workers to do jobs that Americans wont do, especially in agriculture. One of my most vivid memories of the late Armen Alchian, an internationally renowned economist at UCLA, involved a lunch at which one of the younger members of the economics department got up to go get some more coffee. Being a considerate sort, the young man asked, Does anyone else need more coffee? Need? Alchian said loudly, in a cutting tone that clearly conveyed his dismay and disgust at hearing an...
  • Real Wages Decline Again Literally No One Notices

    06/02/2013 6:13:18 AM PDT · by blam · 15 replies
    Business Insider ^ | 6-1-2013 | Kenneth Thomas, Middle Class Political Economist
    Real Wages Decline Again Literally No One Notices Kenneth Thomas, Middle Class Political Economist Jun. 1, 2013, 12:09 PM You read it here first: Real wages fell 0.2% in 2012, down from $295.49 (1982-84 dollars) to $294.83 per week, according to the 2013 Economic Report of the President. Thus, a 1.9% increase in nominal wages was more than wiped out by inflation, marking the 40th consecutive year that real wages have remained below their 1972 peak. Yet no one in the media noticed, or at least none thought it newsworthy. I searched the web and the subscription-only Nexis news...
  • We the People: Minimum wage is not enough to live on

    05/14/2013 12:00:28 AM PDT · by 2ndDivisionVet · 51 replies
    The Crossville Chronicle ^ | May 8, 2013 | Pat Vaughn
    For folks too young or too unaware what has happened to our economy the past 30 years, here is an answer. Ronald Reagan, G.H.W. Bush and the Republican Party are responsible for what we know as "Reaganomics," an economy that continues today resulting in few "labor unions and the resulting low wages and lack of worker benefits. Newly elected Reagans (1981) first attack on the middle class economy was his dismantling a labor union representing 11,000 striking air traffic controller employees, whom he fired. Their PATCO union was destroyed. Reagan and his rich, conservative friends (not one who needed job...
  • US Goes Full Europe: Output Gap At $840 Billion, Real Wages Declining (Awful, Euro-Style Recovery)

    04/21/2013 11:42:00 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 04/21/2013 | Anthony B. Sanders
    One of the measures I like to follow is the spread between real GDP growth and potential real GDP growth. Potential GDP is the highest level of real Gross Domestic Product output that can be sustained over the long term. As of the end of 2012, the output gap (potential actual real GDP growth) logged in at $840 billion. And that is just for Q4 2012. Notice that the US has been running almost a trillion dollars in subpar performance per quarter since 2009. Nobel Laureate Robert Lucas from University of Chicago gave a lecture in 2011 where he...
  • Customers Flee Wal-Mart Empty Shelves for Target, Costco

    03/26/2013 10:48:52 PM PDT · by JSDude1 · 130 replies
    Yahoo News/Bloomberg ^ | 3/26/13 | Renee Dudley
  • Consumer income hits 20-year low

    03/02/2013 5:13:49 PM PST · by NoLibZone · 5 replies ^ | Mar 2 2013 | By: John Hayward
    Consumer spending propped up our weak economic numbers long enough to get President Obama through the election which is one reason that he used to treat his payroll tax cut raid on Social Security funding as the most important #60Dollars in every Americans life, before suddenly and silently dropping it during the fiscal cliff showdown.
  • Americans endure bigger income cut than government can handle

    03/02/2013 2:56:28 PM PST · by NoLibZone · 13 replies
    Fox News ^ | March 2 2013 | FNS
    Americans are a lot better at belt-tightening than the people they send to Washington. As Americans income fell by 3.6 percent in January, President Obama and Congressional leaders were warning of the dire consequences of sequester, the budgetary booby trap that forces cuts of as little as a third of that from the mammoth federal spending plan. Working stiffs sucked it up and absorbed the biggest monthly drop in income in 20 years, while the elected officials insisted that the federal budget had no fat to trim. Financial planning experts say if Americans can take such a big bite out...
  • HuffPo: Workers 'Really Deserve' a $21.72 Minimum Wage

    02/15/2013 9:00:03 PM PST · by chessplayer · 35 replies
    According to a new study by the George Soros-funded Center for Economic Policy and Research, minimum wage should be $21.72 an hour to keep up with the increase of worker productivity. Highlighting that study, The Huffington Post bemoaned President Barack Obamas call for a higher minimum wage as a far cry from what workers really deserve, in a Feb. 13 blog post.
  • Thomas Sowell: 'AT WHAT PRICE?' - The Difference Between Liberals and Conservatives

    02/04/2013 6:31:04 AM PST · by Yosemitest · 24 replies ^ | Mar 17, 2010 | Thomas Sowell
    Watch this 4 Minutes 32 Seconds of Video. The Difference Between Liberal and Conservative Fred Barnes: Yeah, you were in your early years, you were a a Marxist. Thomas Sowell: Yes. Fred Barnes: Uh What happened? How'd you uh get away from that? Thomas Sowell: Ah I took a job in the government. I was still a Marxists. But uh, one summer of working in the government was enough to uh in turn start, start, in turn, start turning me around. I went through the University of Chicago as a Marxist. After a year...
  • County Prevailing Wage Law Could Add Millions To Taxpayer Costs

    01/08/2013 10:02:58 AM PST · by MichCapCon · 4 replies
    Michigan Capitol Confidential ^ | 1/5/2012 | Jack Spencer
    Muskegon County wants to build a new jail, and the county's prevailing wage law means local taxpayers could be on the hook for an extra $2 million for the project. Prevailing wage laws mandate that union-scale wages be paid on construction work funded by taxpayer dollars, regardless of the winning bidder. Local governments can do nothing about federal prevailing wage laws, which apply if federal dollars are used for a project. However, local governments only have to pay the prevailing wage on local projects if they have a local ordinance that requires it. Most of Michigan's 83 counties do not...
  • How Liberals Think: Mika Says 'It's Kind Of Simple'Just Pay Workers More

    12/11/2012 6:54:56 AM PST · by governsleastgovernsbest · 82 replies
    NewsBusters ^ | Mark Finkelstein
    I post this item not to mock Mika Brzezinski. But her comments this morning were so illustrative of the liberal mindset--in ignoring fundamental principles of economics--that they are worth highlighting here. An entire Morning Joe segment had been devoted to discussing the wage dilemma in America. In the context of analyzing the right-to-work law soon to be signed in Michigan, the panelapparently excepting Mikaagreed that we face hard choices here. We can artificially preserve high wages for a relative few, or let wages seek their natural level, providing more jobs at lower pay. As Joe Scarborough put it, we have...
  • Is This Why Americans Have Lost The Drive To "Earn" More

    12/01/2012 9:00:26 PM PST · by ExxonPatrolUs · 24 replies
    ZeroHedge ^ | 12/01 | Tyler Durden
    Full Zero Hedge Article At This LinkIn the recent past we noted [6] the somewhat startling reality that "the single mom is better off earning gross income of $29,000 with $57,327 in net income & benefits than to earn gross income of $69,000 with net income and benefits of $57,045." While mathematics is our tool - as opposed to the mathemagics of some of the more politically biased media who did not like our message - the painful reality in America is that: for increasingly more Americans it is now more lucrative - in the form of actual disposable income...
  • McDonald's, KFC, Burger King workers protest in NYC

    11/29/2012 9:57:50 PM PST · by babyfreep · 57 replies
    CNN Money ^ | Nov. 29, 2012 | Emily Jane Fox
    NEW YORK (CNNMoney) -- Pamela Waldron makes $7.75 an hour as a cashier at the KFC in New York's Penn Station, where she has worked for eight years. That's just 50 cents above the New York state minimum wage. The 26-year old nursing student, and mother of two, says she has asked for a raise but her pleas have gone unheeded for weeks. Finally, on Thursday, around lunchtime she joined a protest of about 40 fast food workers who walked out of their shifts, carrying placards and shouting slogans to bring attention to their cause of fighting for higher wages...