justthenews.com
This is a trend that has existed for decades....
Here's the BLS data...the 4.8% where it stands now is actually a 30 year low
https://fred.stlouisfed.org/series/LNS12026620
trib.al
trib.al
@RayGravesGhost @BSC911
Fmr. Owebama Adviser Goolsbee: ‘You Probably Are Going to See a Continuation of’ ‘Negative Real Wage Growth’
On Friday’s broadcast of CNBC’s “Squawk Box,” Economics Professor at the University of Chicago Booth School of Business Austan Goolsbee, who served as Chairman of the Council of Economic Advisers under President Barack Obama, praised the number of jobs added in July, but pointed out that if GDP is declining at the same time a large number of jobs are being added, “it has to mean that productivity’s going down,” and we will likely “see a continuation of this kind of negative real wage growth.”
Goolsbee said, “I mean, this is a jaw-dropping number. There has never been a time when we got the unemployment rate down this low, where we’re adding 500,000 jobs. I mean, I thought that, given all of the rate increases, that we would probably have a disappointment or a miss. You’re never going to hear me criticize a jobs number where we got a half-a-million jobs. I would highlight there are two areas of, not weakness, but danger. The first is, if you’ve got GDP shrinking when you’re adding jobs at this kind of rate, it has to mean that productivity’s going down, and if productivity’s going down, what that’s going to imply for wages is not great. And so, you probably are going to see a continuation of this kind of negative real wage growth. But the second thing is this is fundamentally not stable. There are not enough people to keep adding 500,000 jobs a month. So, on a pretty rapid order, that’s — it has to stop. We have to reach what is a de facto full employment, and then the numbers are not going to be as big. And so, people can’t be surprised when that happens.”
Fmr. Obama Adviser Goolsbee: 'You Probably Are Going to See a Continuation of' 'Negative Real Wage Growth'
On Friday's broadcast of CNBC's "Squawk Box," Economics Professor at the University of Chicago Booth School of Business Austan Goolsbee, who served as | Clips
@BSC911 @RayGravesGhost
You know it's a RAT 🐀 disaster when even #fakenews CNN is calling out Biden's unending BS.
CNN’s Solomon: Imbalance Between Jobs, People Looking for Work ‘Creates a Vicious Cycle’ That Makes Fighting Inflation ‘Much Harder’
On Friday’s broadcast of CNN International’s “First Move,” CNN International Business Correspondent Rahel Solomon said that the imbalance between job openings and people looking for work “creates a vicious cycle, and it makes the job of the Fed trying to fight inflation much harder.” And that wage gains are “being outpaced by inflation.”
Solomon stated, “[A]ny other time you see a jobs report like this and it really just sort of spells a really strong economy, really red hot labor market. But in an environment where inflation is at 9.1%…well, it sort of adds an asterisk to that jobs report. … So, the complicating factor about all of this is the demand for workers and wages. Right now, Julia, there are 1.8 open jobs for every one person looking. When you have that kind of imbalance, it creates upward pressure on wages, right? I mean, just think about it. Companies have to incentivize people to work for them, because there is such demand for workers. And so, they raise wages to try to incentivize workers. And while that is great for American workers, well, first of all, that’s being outpaced by inflation. But that then trickles down into higher prices, and it creates a vicious cycle, and it makes the job of the Fed trying to fight inflation much harder.”
CNN's Solomon: Imbalance Between Jobs, People Looking for Work 'Creates a Vicious Cycle' That Makes Fighting Inflation 'Much Harder'
On Friday's broadcast of CNN International's "First Move," CNN International Business Correspondent Rahel Solomon said that the imbalance between job | Clips
The understanding of economics OTB is pitifully weak. That’s what happens when most of them get their info from memes.
dang, Insta coming out the gate swinging, on a Sunday morning no less!
Funny to me, that's what you saw as most important or meriting comment in that post, on any morning.... 🙄
Hey I've been reading your posts for years, I don't believe you've ever used that kind of language before, is all.
Then you've missed a lot of my postings. I don't tend to get to wild or vulgar most times, but calling a few corrupt traitorous socialist idiot bitches out when needed is NBD imo...
Of course it does. That means there's high demand for entry level jobs. Always the case under dem presidents.
