Bummer Summer Jobs Disaster

[canpakes]

How much of that proposed money has gone anywhere yet, anyway?

Of the $3.5 trillion? Exactly 0.

Yep.

Ajax should no longer be confused about why this ‘spending’ hasn’t affected unemployment numbers or job growth, yet. I wonder how many days this week will pass before he asks again why it hasn’t juiced the figures.

[Res Ipsa]

Economics is known as the dismal science, so it’s the perfect thing for our resident Eeyore to use for throwing out factoids of gloom and doom.

[Res Ipsa]

Here’s a pretty good article on what’s happening in the U.S. job market. https://www.washingtonpost.com/business ... 9bb7b3b8ba It is paywalled. The gist:

At heart, there is a massive reallocation underway in the economy that’s triggering a “Great Reassessment” of work in America from both the employer and employee perspectives. Workers are shifting where they want to work — and how. For some, this is a personal choice. The pandemic and all of the anxieties, lockdowns and time at home have changed people. Some want to work remotely forever. Others want to spend more time with family. And others want a more flexible or more meaningful career path. It’s the “you only live once” mentality on steroids. Meanwhile, companies are beefing up automation and redoing entire supply chains and office setups.

[ajax18]

It turns out that if you pay people not to work, they'll find other ways to spend their time and energy especially when working full time only increases their income by 20% at most. Who would have ever guessed that would happen? Nor will employers be able to compete with welfare, hence fewer and fewer jobs with lower and lower labor participation. And it wins elections every time.

[Res Ipsa]

It turns out that if you pay people not to work, they'll find other ways to spend their time and energy especially when working full time only increases their income by 20% at most. Who would have ever guessed that would happen? Nor will employers be able to compete with welfare, hence fewer and fewer jobs with lower and lower labor participation. And it wins elections every time.

Yes, Eyeore. Perhaps you can explain how all the increased welfare to date magically produced such a quick recovery in the job market?

[Jersey Girl]

Yes, Eyeore.

omg

[ajax18]

At heart, there is a massive reallocation underway in the economy that’s triggering a “Great Reassessment” of work in America from both the employer and employee perspectives. Workers are shifting where they want to work — and how. For some, this is a personal choice. The pandemic and all of the anxieties, lockdowns and time at home have changed people. Some want to work remotely forever. Others want to spend more time with family. And others want a more flexible or more meaningful career path. It’s the “you only live once” mentality on steroids. Meanwhile, companies are beefing up automation and redoing entire supply chains and office setups.

Obama's third term continues to fundamentally transform America just as Obama promised back in 2008. What was once a working economy has become a pick your check up in the mail welfare economy.

[Doctor CamNC4Me]

Here’s a pretty good article on what’s happening in the U.S. job market. https://www.washingtonpost.com/business ... 9bb7b3b8ba It is paywalled. The gist:

At heart, there is a massive reallocation underway in the economy that’s triggering a “Great Reassessment” of work in America from both the employer and employee perspectives. Workers are shifting where they want to work — and how. For some, this is a personal choice. The pandemic and all of the anxieties, lockdowns and time at home have changed people. Some want to work remotely forever. Others want to spend more time with family. And others want a more flexible or more meaningful career path. It’s the “you only live once” mentality on steroids. Meanwhile, companies are beefing up automation and redoing entire supply chains and office setups.

Hrm. The quoted part paints a much rosier picture than what I think reality is:

https://www.vox.com/recode/22651953/ame ... inequality

More Americans are taking jobs without employer benefits like health care or paid vacation
An astonishing one in three US workers does gig work now.

tl;dc - Workers' share of corporate income is at the lowest point it ever has been in history. Corporate taxes have never been lower than they are today. Companies are making out like absolute bandits. I think what we’re seeing is basically trash-tier wage jobs with little to no benefits and gig work. Gig work doesn't even come with minimum wages. It doesn't come with unemployment. It doesn't come with worker's compensation. Nothing is paid into social security or medicare. There are no labor standards at all. So, basically these job numbers are pretty sus if we’re talking about a line of work you can support a family on.

[Res Ipsa]

Here’s a pretty good article on what’s happening in the U.S. job market. https://www.washingtonpost.com/business ... 9bb7b3b8ba It is paywalled. The gist:

Hrm. The quoted part paints a much rosier picture than what I think reality is:

https://www.vox.com/recode/22651953/ame ... inequality

More Americans are taking jobs without employer benefits like health care or paid vacation
An astonishing one in three US workers does gig work now.

tl;dc - Workers' share of corporate income is at the lowest point it ever has been in history. Corporate taxes have never been lower than they are today. Companies are making out like absolute bandits. I think what we’re seeing is basically trash-tier wage jobs with little to no benefits and gig work. Gig work doesn't even come with minimum wages. It doesn't come with unemployment. It doesn't come with worker's compensation. Nothing is paid into social security or medicare. There are no labor standards at all. So, basically these job numbers are pretty sus if we’re talking about a line of work you can support a family on.

I think they are descriptions of the same phenomenon. It’s a little odd that people seem to be gravitating towards gig work when entry level jobs that include at least some benefits are not attracting job seekers. I think we’ll have to wait and see what things look like when the pandemic settles down before we’ll be able to understand what it all means.

[Alf'Omega]

At heart, there is a massive reallocation underway in the economy that’s triggering a “Great Reassessment” of work in America from both the employer and employee perspectives. Workers are shifting where they want to work — and how. For some, this is a personal choice. The pandemic and all of the anxieties, lockdowns and time at home have changed people. Some want to work remotely forever. Others want to spend more time with family. And others want a more flexible or more meaningful career path. It’s the “you only live once” mentality on steroids. Meanwhile, companies are beefing up automation and redoing entire supply chains and office setups.

Obama's third term continues to fundamentally transform America just as Obama promised back in 2008. What was once a working economy has become a pick your check up in the mail welfare economy.

You truly do live up to your reputation as the resident racist. Why is it that, for you, everything is explained with welfare? How do you explain the fact that the number of food stamp recipients plummeted during Obama's second term? And how is it you're so ignorant that you don't know that most welfare recipients also work?