The Lost Home Owner: “Soaring House Prices And Lack of Decently Paid Jobs” Affect Young

If it seems like the youngest generation of adults are missing out on starting their lives, and becoming real grown-ups… it might be because they are. And despite what you might be thinking, it’s not just a case of fixation on vapid social media, cultural decline or laziness among millenials that is to blame. There is definitely a problem with the economic realities of the day that is making a major contribution to this growing problem as well. The destruction of opportunity has been perhaps the biggest consequence of the economic crisis of 2008, and it continues to undermine the majority of Americans. Housing and rent prices have soared, along with other sharp increases in the cost of living. Meanwhile, student loan debt has been absolutely crushing (and threatens to topple the economic system once again) and college graduates have been mismatched with a severe shortage of good jobs […] Read More

What Middle Class? Most Americans Make Less Than 30K A Year: “So Many People Barely Scraping By”

This article was written by Michael Snyder and originally published at his End of the American Dream blog. Editor’s Comment: The Middle Class is mostly now a memory. Statistically, the majority of all American workers make a sum that puts them only modestly above the poverty line. While there are many bright, intelligent and skilled people in the United States, there are relatively few opportunities. Far too many overqualified people for the good jobs that are available. Many learn to lower their expectations and do with less, while far too many learn the bitter rewards of dependence, living off of government benefits for “free.” Goodbye Middle Class: 51 Percent Of All American Workers Make Less Than 30,000 Dollars A Year by Michael Snyder We just got more evidence that the middle class in America is dying.  According to brand new numbers that were just released by the Social Security […] Read More

1 in 5 US children live below poverty line, more than during Great Recession

Around 22 percent of American children lived below the federal poverty line in 2013, up from 18 percent in 2008, according to a new report. Black, Hispanic, and American Indian children were twice as likely to live in poverty as whites. The 2015 Kids Count Data Book ‒ released Tuesday by the non-profit group Annie E. Casey Foundation ‒ was compiled using federal government data collected from 2008 to 2013 to determine state-based trends pertaining to 16 factors related to quality of life for young children. Those factors include health, family life, community, and education. The 16.1 million children living in poverty in 2013 counts for nearly 3 million more than those living in poverty in 2008, the beginning of the Great Recession. More than two million more children live in areas of concentrated poverty compared to 2006 to 2010, the report found. The federal poverty line in 2013 […] Read More

Billionaire: “We Are Destroying the Middle Class. That’s What Keeps Me Awake at Night.”

“We’re in for a huge change in society. Get used to it. And be prepared.” That’s not a new message, but as the warning will affect the personal wealth, job prospects and ability to stay afloat of nearly everyone on the planet, it is worth paying attention to. They are the blunt words of Johann Rupert, a jewelry and fashion mogul from South Africa worth an estimated $7.5 billion. Rupert blasted the actions of “.1 percent of .1 percent,” or roughly the upper 7,000 individuals of the population, which paints with a narrower brush than the general class warfare slogans against the 1%, who instead make up an enormous 70 million people across the globe. Bloomberg reported: “We cannot have 0.1 percent of 0.1 percent taking all the spoils… It’s unfair and it is not sustainable.” “How is society going to cope with structural unemployment and the envy, hatred […] Read More

We’re Killing Ourselves on the Job –The Problem Is About Wealth and Wages: Not More Work

It’s time to build a labor movement that stands for less labor—not more. This story first appeared at Labor Notes.  I keep getting these emails from the Laborers union: “The Keystone XL Pipeline isn’t just a pipeline, but a lifeline to good, family-supporting jobs.” In the labor movement we’re supposed to be for anything that creates more paid work. But here’s some heresy for you: I think we need less work. Senators who voted against the pipeline in November, the union says, threw away a chance to “unlock millions of work hours,” and instead “killed thousands of jobs.” Is the Senate “killing jobs?” Maybe. Meanwhile, jobs are killing us. Jobs: Often Awful Exhibit A: the tragic death of New Jersey fast food worker Maria Fernandes last August, napping in her car between shifts. She was cobbling together at least three Dunkin’ Donuts jobs to make ends meet. But it’s not just […] Read More

Unemployment Dropped Below 6% — So What’s the Bad News?

Some powerful folks want to see interest rates rise to prevent people from getting jobs and demanding higher wages. The jobs report on Friday showed the economy created 248,000 jobs in September and the unemployment rate fell below 6.0 percent for the first time since the early days of the recession. This is good news for workers. While we are still far from anything resembling full employment, it is getting easier for people to find jobs. If the economy keeps creating jobs at this pace, workers will finally have enough bargaining power to see some real wage gains, thereby getting their share of the benefits of economic growth. But this is also the bad news in the story. There are many powerful people who want to keep these wage gains from happening. Immediately after the jobs report was released, James Bullard, the president of the St. Louis Federal Reserve […] Read More

30 stats to show to anyone that does not believe the middle class is being destroyed

The 30 statistics that you are about to read prove beyond a shadow of a doubt that the middle class in America is being systematically destroyed.  Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a staggering pace.  Yes, the stock market has soared to unprecedented heights this year and there are a few isolated areas of the country that are doing rather well for the moment.  But overall, the long-term trends that are eviscerating the middle class just continue to accelerate.  Over the past decade or so, the percentage of Americans that are working has gone way down, the quality of our jobs has plummeted dramatically and the wealth of the typical American household has fallen precipitously.  Meanwhile, we have watched median household income decline for five years in a […] Read More

Job = Just Over Broke

If you are fortunate enough to have a job in America today, the phrase “just over broke” probably describes you.  Yes, there are a handful of jobs that certainly pay very well, but most Americans that work for somebody else are just barely making it from month to month.  More than half of all working Americans are living paycheck to paycheck, and more than half of all working Americans make less than $30,000 a year.  That is an amazing statistic but it is actually true.  Once upon a time, anyone that was responsible and that was willing to work hard could get a good job in America.  But now those days are long gone.  Instead, we live at a time when good jobs are disappearing and when the middle class is getting smaller with each passing year.  In some homes, the husband and the wife are both working multiple […] Read More

The Robots Are Coming, And They Are Replacing Warehouse Workers And Fast Food Employees

There are already more than 101 million working age Americans that are not employed and 20 percent of the families in the entire country do not have a single member that has a job.  So what in the world are we going to do when robots start taking millions upon millions more of our jobs? Thanks to technology, the balance of power between employers and workers in this country is shifting dramatically in favor of the employers.  These days, many employers are wondering why they are dealing with so many human worker “headaches” when they can just use technology to get the same tasks done instead.  When you replace a human worker with a robot, you solve a whole bunch of problems.  Robots never take a day off, they never get tired, they never get sick, they never complain, they never show up late, they never waste time on […] Read More