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02-28-2013, 11:39 PM
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#1
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Premium Member
Join Date: Apr 2007
Posts: 10,231
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Middle wage jobs have disappeared in the recession
This is where the debate actually lies in policy, whether people realize it or not. The dems want more social/monetary help and training for these folks and the pubs believe lower regulation and taxes will bring them back.
But the larger issue is why it's happening at all, the article posits some reasons but I think it's really basic...in a modern technological economy there are really two types of employees, those with the specialized high level skills to create and manage, and those with low level skills to execute day to day on the front lines. There is really little in between anymore, and with the loss of unions protecting those folks (largely because of pressure from cheaper foreign options), either you have skills or you compete against the third world wage wise.
Quote:
Mid-wage occupations, paying between $13.83 and $21.13 per hour, made up about 60 percent of the job losses during the recession. But those mid-wage jobs have made up just 27 percent of the jobs gained during the recovery.
By contrast, low-wage occupations paying less than $13.83 per hour have utterly dominated the recovery, with 58 percent of the job gains since 2010. (This data all comes from an earlier report (pdf) from the National Employment Law Project.)
That's put downward pressure on wages: "[M]any middle-class workers have lost their jobs and, if they have been able to secure new employment at all, find themselves earning far lower wages post-recession," the San Francisco Fed notes. "[O]n average over the next 25 years, these workers will earn 11% less than similar workers who retained their jobs through the recession."
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http://mobile.washingtonpost.com/c.j...d=578815&spf=1
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03-01-2013, 03:39 AM
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#2
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VIP Member
Join Date: May 2009
Posts: 4,578
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That was almost all construction. Gone with housing bust.
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The nicest guy on GC! 24 in a row here we come!
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03-01-2013, 03:42 AM
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#3
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Gator Country Gold
Join Date: Apr 2007
Posts: 19,956
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Did we "recover" already?
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03-01-2013, 03:46 AM
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#4
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VIP Member
Join Date: Apr 2007
Posts: 22,763
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Just wait until BO raises the minimum wage again.
Why the youth of America continues to support Obama is beyond me.
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03-01-2013, 07:17 AM
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#5
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Premium Member
Join Date: Aug 2008
Location: Estero, Fl
Posts: 11,209
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That is the result of transitioning to a service economy
Thank you Clinton. Fortunately the energy revolution and manufacturing that is returning due to cheap Nat gas are reversing that trend somewhat
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03-01-2013, 07:46 AM
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#6
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Junior
Join Date: Sep 2008
Posts: 480
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Quote:
Originally Posted by ThePlayer
Just wait until BO raises the minimum wage again.
Why the youth of America continues to support Obama is beyond me.
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You promise free anything and that is what you get.
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03-01-2013, 07:49 AM
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#7
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Premium Member
Join Date: Apr 2007
Posts: 5,322
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We're headed for a lost decade.
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"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it."
Frederic Bastiat
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03-01-2013, 08:13 AM
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#8
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All American
Join Date: Apr 2007
Posts: 1,642
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another lost decade.
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Lord of All Gators
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03-01-2013, 08:27 AM
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#9
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Heisman Winner
Join Date: Apr 2007
Location: Washington D.C.
Posts: 5,743
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Quote:
Originally Posted by oragator1
But the larger issue is why it's happening at all, the article posits some reasons but I think it's really basic...in a modern technological economy there are really two types of employees, those with the specialized high level skills to create and manage, and those with low level skills to execute day to day on the front lines. ]
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And my "specialized high level skills" now pays middle wages whereas about 8 years ago I'd nearly be making about 70% more. How in the world college grads are suppossed to deal with school loans when the jobs to pay them off are barely there.
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03-01-2013, 08:32 AM
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#10
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Heisman Candidate
Join Date: Apr 2007
Posts: 2,111
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Economic slavery coming YOUR way...orchestrated by THE FED...matters NOT which party rules...
Too bad 80% of you just don't get it...
So for those 80%....just go BACK to your standard party finger pointing ways...it seems to far above you to understand...
Like a frog slow boiled in water...
__________________
"Either you repeat the same conventional doctrines everybody is saying, or else you say something true and it will sound like it’s from Neptune." Noam Chomsky
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." Frederic Bastiat
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03-01-2013, 08:55 AM
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#11
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Premium Member
Join Date: Jun 2007
Location: The Irish Riviera
Posts: 23,956
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Quote:
Originally Posted by bluelang
That was almost all construction. Gone with housing bust.
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Let's be honest though, the day of easy money created a ton of jobs in construction. Every Tom, Dick and Harry were migrating into construction to get a piece of the action. Now that it busted they need to do something else.
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03-01-2013, 09:06 AM
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#12
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Heisman Candidate
Join Date: Apr 2007
Posts: 2,410
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Quote:
Originally Posted by GatorAbe7
And my "specialized high level skills" now pays middle wages whereas about 8 years ago I'd nearly be making about 70% more. How in the world college grads are suppossed to deal with school loans when the jobs to pay them off are barely there.
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The biggest problem i have seen with college grads over the last decade is that many (not all) have absolutely no job skills when they graduate and have never even had a job bagging groceries. They go through HS and college subsidized by mom, dad, loans, and have majors that have no application in the market place. You end up with psych, sociology, political science and philosophy majors waiting on tables at Starbucks (if they are lucky).
The market place has contracted and it amazes how little thought is given as to what happens after achieving a degree. 18 year old kids can enlist in the navy and end up with massive responsibility on a carrier deck but somehow many 18 year old HS grads seem to want to float through college and have no inkling how to put food in their stomach... Its incredible.
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03-01-2013, 09:08 AM
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#13
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Join Date: Apr 2007
Location: Big Apple
Posts: 14,455
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all part of the plan
serfs and lords
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03-01-2013, 09:19 AM
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#14
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Premium Member
Join Date: Apr 2007
Posts: 1,726
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Quote:
Originally Posted by GatorAbe7
And my "specialized high level skills" now pays middle wages whereas about 8 years ago I'd nearly be making about 70% more. How in the world college grads are suppossed to deal with school loans when the jobs to pay them off are barely there.
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Welcome to the 21st century. As long as we make tech advances and keep producing more people, none of this will get better.
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03-01-2013, 09:36 AM
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#15
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Gator Country Silver
Join Date: Dec 2008
Posts: 8,133
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What a hilarious thread.
Those jobs have been disappearing for decades. All being offshored to China and the Philippines or just plain eliminated to fund obscene CEO bonuses. The economic downturn was just an excuse to do it on a more massive scale all at once.
It's no coincidence that executive compensation has soared during the downturn.
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The poster formerly known as shabadoo25
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03-01-2013, 11:47 AM
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#16
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Gator Country Silver
Join Date: May 2007
Location: Austin, TX
Posts: 7,806
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Yes, is always the evil corporate ceo.
Never mind the guvmint, with its cutting health care expenditures at any cost. Never mind guvmint picking winners and losers, and implementing tax policies that enrich those with lobbyists.
I blame this country's lawyers, and lawmakers.
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"I am austingtr, and I'm a tennis addict"
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03-01-2013, 02:13 PM
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#17
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Heisman Winner
Join Date: Apr 2007
Location: The ATL
Posts: 5,284
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Quote:
Originally Posted by 108
all part of the plan
serfs and lords
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With the lords actually being the non producing serfs...
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All your trophy are belong to us
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03-01-2013, 02:33 PM
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#18
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VIP Member
Join Date: Apr 2007
Posts: 22,763
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Quote:
Originally Posted by fredsanford
What a hilarious thread.
Those jobs have been disappearing for decades. All being offshored to China and the Philippines or just plain eliminated to fund obscene CEO bonuses. The economic downturn was just an excuse to do it on a more massive scale all at once.
It's no coincidence that executive compensation has soared during the downturn.
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The only thing hilarious is another Democrat who doesn't understand corporations, shareholders and business.
Lower executive compensation significantly and you get....Barack Obama.
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03-01-2013, 03:42 PM
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#19
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VIP Member
Join Date: May 2009
Posts: 4,578
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Quote:
Originally Posted by gatorman_07732
Let's be honest though, the day of easy money created a ton of jobs in construction. Every Tom, Dick and Harry were migrating into construction to get a piece of the action. Now that it busted they need to do something else.
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Absolutely, spot on.
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The nicest guy on GC! 24 in a row here we come!
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