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Report on my local low unemployment rate
#1
Today as I ran my errands around town, I noticed "help wanted" signs everywhere.

This is good news, right?  Well, not exactly.  All the jobs offered were low paying part-time jobs with no benefits, not full-time jobs with benefits.

For example, when I shopped at my local grocery store, I noticed that they were advertising "help wanted" for 6 part time low paying jobs with no benefits and no full-time jobs with benefits.  Obviously, they could have combined some of these part-time jobs with out benefits into a couple of full-time jobs with benefits, but they didn't keep employment costs down and to also have "just-in-time" employees that could easily be laid off when no severance t if business turns down.

I saw the same thing happening at my local Arby's when I stopped in to buy the week special for lunch.  Several low paying part-time jobs with no benefits were advertised but no full-time jobs with benefits.  Again, they are trying to keep employment costs down and to also have "just-in-time" employees that can easily be laid off with no severance if business turns down.

To me, this indicates that the local small business owners have absolutely no confidence in the "Trump economic rally" and think business conditions could turn down in an instant.
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#2
But regardless - it's work.

I would guess that half the reason there are vacancies is that the previous employees have moved onward and upward, so the bottom rung of the ladder is open for those willing to have a go.
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#3
The 'supply-and-demand model of labor markets is fundamentally broken,' and that's why you're not getting a pay raise anytime soon
  • We have full employment in the US and the UK but extremely low wage growth.
  • The "gig economy" is structured to keep wage levels down even when there are shortages of workers.
  • Underemployment — part-time work — has replaced the role that mass unemployment used to play in the US and the UK.
  • Work now creates inequality, and workers know they cannot get ahead merely by working.
  • That has political consequences: It makes the minimum-wage level one of the most important political issues.
http://www.businessinsider.com/supply-an...ken-2018-6
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#4
Why should you have wage growth when there is zero inflation?
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#5
(Yesterday, 08:04 AM)andrew_o Wrote: Why should you have wage growth when there is zero inflation?

Median American real wages have been declining since about 1972, but the decline really accelerated after the year 2000.
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#6
That’s because you were overpaid before
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