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Thread: New Study Confirms That American Workers Are Getting Ripped Off

  1. #1
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    New Study Confirms That American Workers Are Getting Ripped Off

    By Eric Levitz

    America’s unemployment rate is hovering near half-century lows. There are now more job openings than unemployed workers in the United States for the first time since the government began tracking that ratio. For America’s working class, macroeconomic conditions don’t get much better than this.

    And yet, most Americans’ wages aren’t getting any better, at all. Over the past 12 months, piddling wage gains — combined with modest inflation — have left the vast majority of our nation’s laborers with lower real hourly earnings than they had in May 2017. On Wall Street, the second-longest expansion in U.S. history has brought boom times — in the coming weeks, S&P 500 companies will dole out a record-high $124.1 billion in quarterly dividends. But on Main Street, returns have been slim.

    snip

    ...a new report from the Organization for Economic Cooperation and Development (OECD) offers a more straightforward — and political — explanation: American policymakers have chosen to design an economic system that leaves workers desperate and disempowered, for the sake of directing a higher share of economic growth to bosses and shareholders.

    snip

    American workers are more likely to be poor (by the standards of their nation). In the United States, nearly 15 percent of workers earn less than half of the median wage. That gives the U.S. a higher “low-income rate” than any other developed nation besides Greece and Spain.

    OECD Study Confirms That U.S. Workers Are Getting Ripped Off
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  2. #2
    Southern Strategy Liberal OldGaffer's Avatar
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    Well, we raised the minimum wage 10 years ago, what more could we want?
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    Quote Originally Posted by OldGaffer View Post
    Well, we raised the minimum wage 10 years ago, what more could we want?
    Trouble is the cost of living just keeps going up, year over year.

  4. #4
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by labrea View Post
    By Eric Levitz

    America’s unemployment rate is hovering near half-century lows. There are now more job openings than unemployed workers in the United States for the first time since the government began tracking that ratio. For America’s working class, macroeconomic conditions don’t get much better than this.

    And yet, most Americans’ wages aren’t getting any better, at all. Over the past 12 months, piddling wage gains — combined with modest inflation — have left the vast majority of our nation’s laborers with lower real hourly earnings than they had in May 2017. On Wall Street, the second-longest expansion in U.S. history has brought boom times — in the coming weeks, S&P 500 companies will dole out a record-high $124.1 billion in quarterly dividends. But on Main Street, returns have been slim.

    snip

    ...a new report from the Organization for Economic Cooperation and Development (OECD) offers a more straightforward — and political — explanation: American policymakers have chosen to design an economic system that leaves workers desperate and disempowered, for the sake of directing a higher share of economic growth to bosses and shareholders.

    snip

    American workers are more likely to be poor (by the standards of their nation). In the United States, nearly 15 percent of workers earn less than half of the median wage. That gives the U.S. a higher “low-income rate” than any other developed nation besides Greece and Spain.

    OECD Study Confirms That U.S. Workers Are Getting Ripped Off
    Someone will be along shortly to tell you that this is just how capitalism works, and if you don't like it, you're a socialist, and you should move to North Korea.

    Oh, wait. We're supposed to LIKE North Korea now! Sorry. I forgot!

  5. #5
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by labrea View Post
    Trouble is the cost of living just keeps going up, year over year.
    We are only 25th out of 26 industrialized nation in poverty rate so we can still drop one more before we fall into third world shithole status.

    The US has a lot of money, but it does not look like a developed country
    Poverty
    The US has the second-highest rate of poverty among rich countries
    Obesity is a primary indicator of poor diet, and although the US isn’t the fattest country in the world (several Pacific island countries, as well as Qatar and Egypt, precede it), it leads OECD countries in obesity.
    The US is also the only advanced economy in the world not to have full health coverage of its population.
    Average US life expectancy is 78.8 years, nearly two years less than the OECD average.
    Basic numeracy in the US is lower than in most other wealthy OECD nations.
    The US is also, with Lesotho, one of only two countries in the world that do not mandate paid maternity leave.
    The US has the highest income inequality of all rich countries. Income inequality is calculated by the OECD combining several indexes, including a ratio of the income of the highest 10% and of the lowest 10%.
    https://qz.com/879092/the-us-doesnt-...loped-country/

    So we are poor, unhealthy, uneducated and die young. But look at all the pending legislation to address all those issues.....wait, no
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    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    Someone will be along shortly to tell you that this is just how capitalism works, and if you don't like it, you're a socialist, and you should move to North Korea.

    Oh, wait. We're supposed to LIKE North Korea now! Sorry. I forgot!
    The "move to" country is Venezuela this month, because Liberals want us to be just like Venezuela.
    Thanks from labrea and BigLeRoy

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    I guess it is the military that makes us the greatest country in the world.

    When I was a kid, it was our large middle class that made us great. One doesnt hear that much anymore.
    Last edited by labrea; 9th July 2018 at 01:25 PM.

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    Veteran Member Southern Dad's Avatar
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    Wages are negotiated. If the employers says that they will pay $10 per hour for the job and you think you are worth $15 and hour, walk. As long as there aren't a line of people willing to take it for $10 per hour, you might get called back.

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    Employers are offering big signing bonuses though and many workers are leaving one place for another for that bonus. Is there a benefit to employers to give a lump sum bonus over higher wages?


    https://www.washingtonpost.com/news/...=.92e555e27eef
    https://www.naceweb.org/job-market/c...uses-climbing/
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    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by bajisima View Post
    Employers are offering big signing bonuses though and many workers are leaving one place for another for that bonus. Is there a benefit to employers to give a lump sum bonus over higher wages?


    https://www.washingtonpost.com/news/...=.92e555e27eef
    https://www.naceweb.org/job-market/c...uses-climbing/
    From the second link: The top degrees in demand—business, computer science, and engineering—will be those most likely to receive signing bonuses.

    Gee. Those sound like practical degrees. Maybe we should feel sorry for the students getting degrees in Outdoor Recreation, Gender Studies, and Medieval French Romantic Poetry.
    Thanks from bajisima

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