Our Incredible Shrinking Workforce

October 31, 2013

At least more are recognizing our growing problem … William Galston: Unless men re-enter the job market, prospects for vigorous growth in the labor force are dim.

Participation in the workforce is falling, the pace of job creation is anemic, and long-term unemployment remains stubbornly high. Many newly created jobs pay less than those that disappeared during the Great Recession, so real wages are stagnating, and median household income is no higher than it was a quarter of a century ago.

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New Grads Have Piled Up Debt That They Have no Way to Pay

May 19, 2013

Nears 1 Trillion total aggregate… Sure am glad Obama fixed the problem. The debt is all yours now!!! He spent your future…

Yeah it’s free tell me how that works out for you suckers. Who you gonna blame? You allowed him to bamboozle you didn’t you. The old teleprompter two step.

wizard

Nope just a tax and spend liberal.

70% of graduates had at least some debt according to the latest poll from Fidelity Investments but as the Wall Street Journal reports the average student-loan debt for a borrower who received a bachelor’s degree in 2013 is $30,000 – an all-time record. With $986 billion of outstanding student loan debt (up 50% from Q1 2009) and unemployment rates running at or near all-time highs for the 16-24 year old cohort in this nation, it is little surprise that delinquencies are surging. The unemployment rate among graduates is 7.1% (which is considerably worse than it looks given that many are stuck in low-paid jobs) but it is those who don’t complete college that face the greatest burden – the median annual income of a non-completer was $25,000 (compared to $33,900 for a degree holder), less than the average student loan debt. As the WSJ notes though, the 2013 class is unlikely to hold the ‘most indebted class ever’ title for long as 2014 enrollments and tuition costs look set to continue the 20 year trend…

drowning

What job? Better pisk your debt more carefully. I think “women studies degrees are losers. Among about half the coursework people take in college is worthless. Become an engineer, any engineer. Or just go get a job…

Unemployment among new grads is 53% when you talk about employed in your degree speciality.

More than half of America’s recent college graduates are either unemployed or working in a job that doesn’t require a bachelor’s degree, the Associated Press reported this weekend. The story would seem to be more evidence that, regardless of your education, the wake of the Great Recession has been a terrible time to be young and hunting for work.

Me I worked my way through college, and had no debt. It took me seven years to get my BSEE degree but so what. No debt.

Welcome to the latest Obama lie. Got you, didn’t he.


Jobs, Jobs, Jobs … Part Time Is In

May 9, 2013

Total employment in the U.S. has recovered to about the halfway point of its previous high. Looked at this way, the Less Bad Recovery is chugging along, but at a very slow rate. Total employment, at 143.28 million, sits roughly in the same place as it did in 2005.

United-States-Employment-Millions-(SA)-2003-2013

However, a recent chart from Jacob Goldstein at the NPR blog is useful, as it shows how singular and unusual the Great Recession has been during the “recovery” phase compared to other post-war recessions.

Goldstein writes:

 How much worse is it this time? Here’s the answer: In previous postwar recoveries, the number of jobs was about 7 percent above its previous peak by this point, on average. In other words, if this had been a typical recession and recovery, the U.S. economy would now have roughly 10 million more jobs than it did at the previous peak. In fact, there are now three million fewer jobs.
employrecfeb2013
Print fiat money till you drop …

Americans’ household net worth suffered a massive loss in the third quarter

December 8, 2011

Americans’ household net worth suffered a massive loss in the third quarter, dropping about $2.4 trillion — the biggest decline in nearly three years, according to a Federal Reserve report released Thursday afternoon.

Household net worth is the difference between the value of assets and liabilities. As The Associated Press points out, the loss in net worth for the July-September period was the biggest decline since the fourth quarter of 2008.


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