Tag Archives: Employment

Everything’s bigger in Texas (except the salaries)

POSTED BY ORHAN

Former U.S. Labor Secretary Robert Reich analyzes data from the US Bureau of Labor Statistics on Texas job growth:

While Texas leads the nation in job growth, a majority of Texas’s workforce is paid hourly wages rather than salaries. And the median hourly wage there was $11.20, compared to the national median of $12.50 an hour.

Texas has also been specializing in minimum-wage jobs. From 2007 to 2010, the number of minimum wage workers there rose from 221,000 to 550,000 – that’s an increase of nearly 150 percent. And 9.5 percent of Texas workers earn the minimum wage or below – compared to about 6 percent for the rest of the nation, according to the Bureau of Labor Statistics. The state also has the highest percentage of workers without health insurance.

He concludes:

…how can lower incomes possibly be an answer to America’s economic problem? Lower incomes mean less overall demand for goods and services — which translates into even fewer jobs and even lower wages.

Good question.

Jobs, yeah, okay, sorta, but it took George W to kill bin Laden

If you can’t read it:

APRIL MARKS 14th CONSECUTIVE MONTH OF PRIVATE SECTOR JOB GROWTH –  MORE THAN 2 MILLION JOBS SINCE MARCH ’10

 

That’ low point in the middle, the one that marks the change from JOBS LOST to JOBS GAINED? That’s January 2009 when the stimulus began.

h/t mac at Talk and Politics from the Bureau of Labor Statistics.

Toxic people

POSTED BY ORHAN

Paul Krugman answers David Romer’s question from the recent IMF macroeconomic conference: Why the silence surrounding the dismal employment outlook in the advanced economies? Says Romer, “I find this complacency in the fact of vast, preventable suffering and waste hard to understand.

Krugman analyzes the JOLTS (job offerings and labor turnover) data:

Although unemployment remains very high, at this point that’s mainly due to lack of hiring; layoffs are quite low. This means that people who still have decent jobs aren’t feeling much at risk of losing them. So any urgency would have to come from concern about those who don’t have jobs — those who lost them in the slump, and of course young people trying to get started on their working lives.

And those people — at least one in six workers, judging by U6 — don’t seem to have much political or psychological visibility. In effect, they’re being written off.

One in six adds up to a pretty big number. Organized, energized, and active, this group could attain not just visibility, but has the potential to become a potent political force.