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"In Massachusetts, Kevin Cronan, who lost his $150,000-a-year job as a money manager in early 2009, is now frothing cappuccinos at a Starbucks for $8.85 an hour.
In Wisconsin, Dale Szabo, a former manufacturing manager with two master's degrees, has been searching years for a job comparable to the one he lost in 2003. He's now a school janitor.
They are among the lucky. There are 14.5 million people on the unemployment rolls, including 6.4 million who have been jobless for more than six months."
I almost doubled my pay this year by being agressive and being extremely good at what I do. The industries that were inflated during the bubble are doing really poorly. The things that people need, they still need.
The former manager was looking for manager work since 2003, 6 years before Lehman Bros collapsed. So that is not a good example at all of someone who was doing well before the recession. As for the money manager, stocks are a volatile industry and when the bubble burst we stopped needing as many money managers. He needs to find another industry.
I got a 66% raise this year. The industries that were inflated during the bubble are doing really poorly. The things that people need, they still need.
American labor across the board is too expensive. Thats why the United States has a difficult time attracting businesses/investors etc to build new factories or operations over here.
As businesses expand they have a choice on where to spend those investment dollars. They factor in all costs and go with whatever choice makes economic sense.
The fact is that many businesses are taking their investment dollars overseas. Corporate america and businesses in general have largely recovered. Thats why they have record amounts of cash and 2011 will be a year of record profits.
Many think that jobs will come back when businesses and corporate america spend that cash but thats far from the truth. The reality is that when those companies go and spend that cash, they spend it in foreign countries. No US jobs created when that happens.
Its only when the US hits an equilibrium with wages in the developing world that jobs will be created.
Take note that most jobs are low end service jobs with no benefits and no guaranteed hours. Most jobs being created are similar to being an independent contractor.
American labor across the board is too expensive. Thats why the United States has a difficult time attracting businesses/investors etc to build new factories or operations over here.
As businesses expand they have a choice on where to spend those investment dollars. They factor in all costs and go with whatever choice makes economic sense.
The fact is that many businesses are taking their investment dollars overseas. Corporate america and businesses in general have largely recovered. Thats why they have record amounts of cash and 2011 will be a year of record profits.
Many think that jobs will come back when businesses and corporate america spend that cash but thats far from the truth. The reality is that when those companies go and spend that cash, they spend it in foreign countries. No US jobs created when that happens.
Its only when the US hits an equilibrium with wages in the developing world that jobs will be created.
Take note that most jobs are low end service jobs with no benefits and no guaranteed hours. Most jobs being created are similar to being an independent contractor.
Your so full of crap... America is a better country because it used to pay good wages to workers so they could afford a good life. The greed of companies and profits are killing America as companies ship jobs overseas and pay American workers less, or they keep many workers as temps with no benefits. America is being destroyed by outsourcing, lower wages, and too much overtime / not hiring needed extra workers.
If you want a country that fits you ideals then that's the Philippines. Low wages for many workers, that's why this is a poor country. Many Filipinos choose Overseas jobs for higher pay and bring the money into the country. No unemployment benefits here and Social Security pays too little.
The real facts are not so mnay workers i mnay areas are not needed really. As wages get to a certain point such things as automatio become less expensive . I often laugh when peopelthign wages in the 50's were good. Wages mean nothig unless you loo at just what a perosn coud afford in wa y of food etc. i wil gie you a heint by just having you look at the growth of eatig out in this country and others.A batter life often has litle to do with what people actually buy really.
I work on commission and I sure can say MY wages are down. I can live with lower wages, what bothers me is the attitude of the employers who don't even pretend they need you any longer. If you don't like whatever they push your way....there's the door and a 1000 other applicants for your job.
I'm older and understand it is part of the economy. I just don't care anymore. But I sure feel bad for young people just getting into the work force. Their self esteem and self worth is under attack daily. I hope they survive and life gives them a break along the way. They have a tough road.
If "bankruptcy lawyers" are doing so well, why did the one that I applied to want to only pay me $7.25 an hour as a legal secretary?
Because they can get it.
A job I had 7 years ago (retail management) is now being offered at $9 an hour... I was getting $15 when I was there. From what I hear they have plenty of applicants and it's not an easy, stressfree job.
American labor across the board is too expensive. Thats why the United States has a difficult time attracting businesses/investors etc to build new factories or operations over here.
As businesses expand they have a choice on where to spend those investment dollars. They factor in all costs and go with whatever choice makes economic sense.
The fact is that many businesses are taking their investment dollars overseas. Corporate america and businesses in general have largely recovered. Thats why they have record amounts of cash and 2011 will be a year of record profits.
Many think that jobs will come back when businesses and corporate america spend that cash but thats far from the truth. The reality is that when those companies go and spend that cash, they spend it in foreign countries. No US jobs created when that happens.
Its only when the US hits an equilibrium with wages in the developing world that jobs will be created.
Take note that most jobs are low end service jobs with no benefits and no guaranteed hours. Most jobs being created are similar to being an independent contractor.
If you think American wages are too high then start by cutting your own salary!
We don't want to live like those in the developing world, crammed into little spaces and working 12 hours a day 7 days a week while the richest members of our society light their cigars with hundred dollar bills. Anyone feels otherwise is welcome to leave this country and go elsewhere.
Corporate America only exists in the first place because hard working Americans bailed them out. They should share the wealth instead of attempting to turn their saviors into slaves.
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