Posted on 10/06/2018 5:41:29 AM PDT by reaganaut1
The benefits of a strong job market are spreading in the form of higher wages for many of those left behind for much of the past decade’s economic expansion, including young Americans, low-income households and people with the least education.
The unemployment rate in September fell to 3.7%, its lowest level since 1969. That is creating worker shortages and wage gains, not just for high-skilled workers who tend to command the best pay but also for low-skilled and blue-collar workers whose wages lag behind.
A study by The Conference Board this week showed shortages are now most acute in blue-collar and low-pay service occupations, in part because of slow labor-force growth among those without college degrees. It found wages in blue-collar industries, such as construction and maintenance, have risen more in recent quarters than wages in white-collar management jobs.
Pay in the retail sector, for example, rose 3.8% in the second quarter, more than the 3% increase for professional-services workers, according to the Labor Department.
“You have more and more demand for blue-collar service workers, but the number of people interested in those jobs are shrinking,” said Gad Levanon, one of the authors of the report.
The lowest-paid Americans saw weekly earnings grow more than 5% in the second quarter from a year earlier, more than the national median gain of 1.7% for all workers, according to a quarterly survey of households produced by the Labor Department. Workers with less than a high-school diploma saw their wages grow almost 6%, and younger workers’ pay grew almost 3%.
“In a recession they are often the first to be laid off, and in the recovery they can be the last to be rehired,” said Harry Holzer, professor of public policy at Georgetown University.
(Excerpt) Read more at wsj.com ...
Trickle down due to Supply Side Economics.
Wish Trump would flat out state that. Good for another 10,000 splodey heads a ‘splodin.
Kids have been taught SSE failed. They need to hear it called this, so they understand they’ve been lied to for a generation.
ROFL Yeah, right.
With unemployment at 3.7% we are essentially at full employment.
Full employment that includes illegals.
That creates a political delimma. Get rid of the illegals and wreck the economy or allow them to stay
Remove them all.
Restore the rule of law.
Stop shilling for the Cheap Labor Express.
I’m not schilling.
I observe and present a finding.
Full employment has created a political delimma.
[“You have more and more demand for blue-collar service workers, but the number of people interested in those jobs are shrinking,” said Gad Levanon, one of the authors of the report. ]
Back to work, snowflakes!
False choices.
Others are:
Create system for illegals to return home, then re-enter legally. (Reform legal immigration). Legal immigration is a mess.
Allow capitalism to work while deporting illegals. Wages go up, automation accelerates.
Reform/reduce welfare benefits and disability claims. Those granted disability soared under President Obama. This would increase the workforce.
Removal of illegals (and some workers) does not mean a crash in the economy. Just the opposite. In times of full employment, the economy soars.
Wonder what the WF participation rate is?
No, entice retirees and people on welfare to reverse their lives.
Agressive Work fare program to get slackers off the dole vwhile deporting illagals ..many that are on US dole.
Win win win.
Also, kick some snowflakes out of the basement and into the economy.
My girlfriend lives next to a family with a single mom and two sons. One 18 the other in early twenties. Neither is working. They sit inside all day and play video games. Neither has ever held a job. Couple of marshmallows. I’ve seen this all over. Parents letting the kids stay home and not get into the work force.
Tired of reading tripe like this.
There are still 10's of millions of working age Americans NOT in the workforce.
Lots of folks signed up as "disabled", reformed now-clean addicts and ex-cons who have served their time that need a second chance, or people on public assistance that could and should have the dignity of work.
Why do we let our fellow CITIZENS live like that?
This is not to mention the uncountable "Older Folks" who are being passed over simply because they list 20 years experience on a job app or CV.
Keep the Illegal Hordes out. Continue deporting criminal aliens. STOP the Tech Visa outrage.
MAGA is working. Finally trickling down to those that will really feel the boost. Thanks to PDJT.
But we have a long way to go before "Full Employment".
I just got my first pay raise in 8 years. It wasn’t because the dying industry I’m in could afford it, it was because in the current job market they were afraid they were going to lose everybody.
Excellent points !
Supply, demand, equilibrium. Nothing magic here.
Is this an annualized rate, in which case it is a little above inflation? Is it annualized but adjusted for inflation? Or is it the increase just in that quarter, in which case wages are on fire?
My brother works in Shipping/receiving. He is a little slow but he works hard, always shows up for work and they have taken care of him. He just got his second raise this year! for the first time in 10 years.. God Bless Trump!
Narrative is that those low income workers are working multiple jobs and the economy is still bad.
My take is that they are working multiple jobs, and we are in a heck of a bubble. I am still waiting to see what will happen once people start figuring out how much they are going to owe in taxes.
The Democrats couldn’t care less about the working poor. These people pay their taxes, generally go without healthcare and help fund the welfare payoff to the Rat voting riff raff getting fat on welfare. Thank God for DJT, the only politician I’ve ever seen step up for these families.
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