Jobs

The Year In Inequality

December 21, 2021 Sarah Anderson and Brian Wakamo, Inequality.org. Educate! Jobs, Pandemic, Taxes, wealth inequality

A year ago we had such high hopes. We expected the Covid vaccine rollout to bring a swift end to the pandemic, opening a window for pushing bold solutions to the long-standing economic, racial, and gender divides that had grown even wider under Covid. Where are we as 2021 comes to a close? These 10 charts highlight major inequality developments of the year, covering some steps back and some important steps forward. The combined wealth of the 745 U.S. billionaires surpassed $5 trillion in 2021, up 70 percent since the beginning of the pandemic, according to Institute for Policy Studies and Americans for Tax Fairness analysis of Forbes data.

Rather Than Pay Fairer Wages, Businesses Look To Prisons

August 7, 2021 Eddie Conway, The Real News Network. Resistance Report Finance and the Economy, Jobs, Prison, Prison Labor

For months, business owners and corporate media pundits in the US have complained about a “labor shortage,” claiming that businesses are struggling to find new employees because “no one wants to work.” Rather than enticing applicants with more competitive wages and stronger benefits and protections, though, many businesses are opting to exploit prison slave labor.

The US Job Market Is About To Turn Into A Giant Science Experiment

June 20, 2021 George Pearkes, Business Insider. Educate! Finance and the Economy, Jobs, Unemployment benefits, Worker Rights and Jobs

Partisan politics, Congress' legislative language, and interest group lobbying are about to turn America's 160 million workers into guinea pigs. We're all about to be part of a huge study on whether unemployment insurance keeps people out of the labor market. The biggest variable in this 50-state experiment is the new unemployment benefits created during the pandemic. Republican governors in nearly two dozen states are rolling back key benefits that helped people through the downturn: expansions in unemployment insurance to workers not previously covered, increased length of coverage for unemployed workers, and topped-up weekly payments are some of the initiatives.

Jobs Report Coverage Lacked Context, Worker Perspective

May 17, 2021 Ari Paul, Fairness and Accuracy in Reporting. Educate! Finance and the Economy, Jobs, Media, Workers

In the early days of the Covid-19 pandemic, the editorial board of the Financial Times (4/20/20), perhaps the most important newspaper of capital in the English-speaking world, fretted about how the pandemic could upend labor relations. After the Black Death of the 1300s, the paper noted, the population decline meant surviving peasants had the leverage to demand higher pay. The editors assured their readers that nothing so radical was coming due to Covid-19: “A thankfully much lower mortality rate means such a transformation is unlikely,” the editors said. A year later, things aren’t going as planned. News outlets trumpeted what they often called “disappointing” job growth numbers in the United States (Yahoo! Finance, 5/7/21; CNN, 5/7/21; Reuters, 5/7/21; BBC, 5/7/21; Time, 5/8/21). The New York Post (5/7/21) ran...

Workers’ Wages Rebound From Pandemics But Not For Blacks

May 8, 2021 Sarafina Wright, The Washington Informer. Educate! Economic crisis, Finance and the Economy, Jobs, Racial disparities

While wages for many Americans have rebounded to pre-pandemic levels, earnings for Black workers declined in the first quarter of 2021, growing the wage gap to its highest level since before the pandemic, according to a new analysis. In a report of earnings data by the Ludwig Institute for Shared Economic Prosperity (LISEP) real median earnings have increased by 1 percent for the first quarter of 2021, driven in large part by a 1.6 percent increase in real earnings by Hispanic workers, while real earnings for white workers remained virtually unchanged. Wages for white earners have fully recovered to pre-pandemic levels and are currently 0.3 percent higher in real terms than in December 2019.

The End Of Development

April 10, 2021 Tim Barker, Dissent Magazine. Educate! Finance and the Economy, Globalization, Jobs, Low Wage Workers

When I was in high school, my economics class read The End of Poverty by Jeffrey Sachs. The book is a passionate appeal to help those living in the worst poverty in the world. Sachs writes that we should not worry too much about the people in second-to-last place, such as the poorly paid workers in labor-intensive industries who were then the focus of considerable debate and activism on U.S. college campuses. Sweatshop workers, Sachs conceded, were on the bottom rung of the ladder. But subsistence farmers were not on the ladder at all. Once we helped them get a foothold, they could begin ascending from textiles all the way up to high tech. I internalized Sachs’s argument, sensing it would help me feel better about the world we live in.

Building Or Unbuilding America?

March 15, 2021 Nomi Prins, Tom Dispatch. Create! Green New Deal, Infrastructure, Jobs, wealth inequality

During the Trump years, the phrase “Infrastructure Week” rang out as a sort of Groundhog Day-style punchline. What began in June 2017 as a failed effort by The Donald’s White House and a Republican Senate to focus on the desperately needed rebuilding of American infrastructure morphed into a meme and a running joke in Washington. Despite the focus in recent years on President Trump’s failure to do anything for the country’s crumbling infrastructure, here’s a sad reality: considered over a longer period of time, Washington’s political failure to fund the repairing, modernizing, or in some cases simply the building of that national infrastructure has proven a remarkably bipartisan “effort.”

The Actual Effects Of Enhanced Unemployment Benefits

November 29, 2020 John Miller, Dollars and Sense. Educate! Jobs, Recession, Unemployment

No matter how hard they search, unemployed workers can’t find jobs that don’t exist. The major cause of today’s high unemployment is the lack of jobs, not workers who have stopped searching for work and have left jobs unfilled. By the end of July, there were still 11.1 million fewer jobs in the U.S. economy than there had been prior to the pandemic in January 2020. Renewing the FPUC supplemental unemployment benefits would boost spending and create jobs. Economist Mark Zandi from Moody’s Analytics estimates that $1 of renewed unemployment benefits would increase economic output by $1.64...

New Jobs Report Consistent With Weak Economy

October 4, 2020 Jeff Cox, CNBC. Educate! Congress, COVID-19, Jobs, Recession

Weaker-than-expected job growth in September sent a signal that the sharp economic recovery off the coronavirus shutdown may be hitting a wall. The Labor Department reported Friday that nonfarm payrolls increased by 661,000 in September, held back by declines in government employment and an exodus of workers from the labor force. In normal times, that type of hiring pace would be considered a sign of a robust job market. The total, in fact, would have been the best month the U.S. had seen since 1983 – if these were normal times and not amid the Covid-19 era that has changed the benchmarks by which economic data is measured.

Consequences Of Inadequate Action By Congress

August 7, 2020 By Kirstyn Flood, Economic Policy Institue. Educate! Congress, COVID-19, Jobs, Recession

Without federal aid to state and local governments, millions of jobs in the public sector will be lost by the end of 2021, severely impacting Black workers, women, and veterans, who are disproportionately employed in these jobs. Additional jobs will be lost—in both the private and public sectors—if Congress fails to reinstate the $600 weekly unemployment benefit that expired last week. EPI experts weigh in on what could happen if Congress fails to act to prevent further economic shock. (1) The coronavirus shock was historically large—and the bounceback has already likely stalled. (2) UI claims and GDP growth are historically bad, (3) State and local governments have lost 1.5 million jobs since February, and (4) The Senate’s failure to act on federal aid to state and local governments jeopardizes veterans’ jobs.

There Can Be No Equality Without Employment Opportunity For All

August 4, 2020 By William Lazonick, Philip Moss, and Joshua Weitz, Ineteconomics. Create! Jobs, Jobs Guarantee, Recession, Systemic Racism

The employment opportunity that privileged the white male was much more than a job. By the 1960s, growing numbers of white men had employment that gave them steadily rising real earnings, often with decades of tenure at one organization. The “career-with-one-company” (CWOC) that had become the employment norm by the beginning of the 1960s included health insurance and a defined-benefit pension, both funded by the employee’s business corporation or government agency. This white-man’s world constituted the foundation for the “vast ocean of material prosperity” to which Dr. King referred.

‘Misclassification Error’ Is Making Unemployment Rate Look Lower Than It Really Is

June 8, 2020 Jake Johnson, Commondreams. Educate! Jobs, Labor Department, Recession, Unemployment

Buried at the bottom of the Bureau of Labor Statistics' May jobs report—which President Donald Trump and Republican lawmakers touted Friday as evidence that the U.S. economy is rebounding from the Covid-19 crisis at an extraordinary clip—is a note conceding that a "misclassification error" during the agency's data-collection process made the unemployment rate look significantly lower than it really is. BLS, a Labor Department agency staffed with more than 2,000 career officials, admitted at the end of its report that "a large number of workers... were classified as employed but absent from work." Those workers, the agency explained, should have been classified as "unemployed on temporary layoff" by household survey interviewers but were not.

The War Industry Threatens Humanity

May 30, 2020 David Swanson, World Beyond War. Educate! Arms Race, Jobs, Military Industrial Complex, Wars and Militarism

I’m adding Christian Sorensen’s new book, Understanding the War Industry, to the list of books I think will convince you to help abolish war and militaries. See the list below. Wars are driven by many factors. They do not include protection, defense, benevolence, or public service. They do include inertia, political calculation, lust for power, and sadism — facilitated by xenophobia and racism. But the top driving force behind wars is the war industry, the all-consuming greed for the all-mighty dollar. It drives government budgets, war rehearsals, arms races, weapons shows, and fly-overs by military jets supposedly honoring people who are working to preserve life. If it could maximize profits without any actual wars, the war industry wouldn’t care.

Low-Balling The Unemployed In The 2020 Economic Collapse

May 12, 2020 Jack Rasmus, Predicting the Global Economic Crisis. Educate! Economic collapse, Jobs, Recession, Unemployment

This past Friday, May 8, the US Labor Dept. released its latest jobless figures. The official report was 20 million more unemployed and an unemployment rate of 14.7%. Both mainstream and progressive media reported the numbers: 20 million more jobless and 14.7%. But those numbers, as horrendous as they are, represent a gross under-estimation of the jobless situation in America! One might understand why the mainstream media consistently under-reports the jobless. But it is perplexing why so many progressives continue to simply parrot the official figures. Especially when other Labor Dept. data admits the true unemployment rate is 22.4% and the officially total unemployed is 23.1 million. Here’s why the 20 million and 14.7% is a gross under-representation of the magnitude of jobless today:

How Accurate Are The US Jobs Numbers?

May 9, 2019 Jack Rasmus, Counterpunch.org Educate! Employment, Jobs, New Economy, United States

While the Current Establishment Survey (CES) Report (covering large businesses) shows 263,000 jobs created last month, the Current Population Survey (CPS) second Labor Dept. report (that covers smaller businesses) shows 155,000 of these jobs were involuntary part time. This high proportion (155,000 of 263,000) suggests the job creation number is likely second and third jobs being created. Nor does it reflect actual new workers being newly employed. The number is for new jobs, not newly employed workers. Moreover, it’s mostly part time and temp or low paid jobs, likely workers taking on second and third jobs.

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