4 comments in reply to "This is how we do it!"

  1. Smith says:

    The unemployment problem is really a never-graduated-high-school unemployment problem and to a much lesser extent the high-school-graduate and some-college unemployment problems. With a 4 year college degree, the unemployment rate is 2.7% (not including very recent graduates, data for workforce over 25 years old) The answer however is not to get everyone college degrees, though a laudable goal and an opportunity everyone should have, it wouldn’t solve the unemployment problem. 2/3 of all job openings through 2022 do not require more than a high school diploma. 47% or close to 1/3 require less than a high school diploma.

    Again, 1/3 of all job openings require less than a high school diploma. Yet unfortunately, the unemployment rate is 8.6% for those with less than a high school diploma. (it may be an important unknown whether their is a skills gap related to high school dropouts and the lower but possibly not insignificant skill requirements of jobs that don’t require high school degrees) Then again, it’s only 11 million out of 135 million or 8%. Getting them high school degrees would help them tremendously, but wouldn’t help the macro job outlook that much. It might turn out no high school degree is just correlated with other factors inhibiting employment and not causative.

    All other rates at 2.7% 4.7% 5.4% with 4 year college degree, some college, high school graduate, respectively, are combined already at 4.09%.

    Current unemployment by education: http://www.bls.gov/news.release/empsit.t04.htm
    Graph through 06/2013 http://static1.businessinsider.com/image/51b30c106bb3f7411e000009-600-450/unemployment-college-no-college.png
    Source of graph: http://www.businessinsider.com/college-vs-no-college-unemployment-rates-2013-6
    Job Openings with education levels: http://data.bls.gov/projections/occupationProj
    (special note since I griped previously, the education level info disappeared for a while, but now back and even much better than before)

    As long as business executives are rewarded for consolidation, cost cutting, eliminating jobs, suppressing wages, and supplying services instead producing stuff, full employment will impeded, wages will stagnate.

    Also, in case you were wondering…
    http://www.bls.gov/web/empsit/cesfaq.htm
    “Are undocumented immigrants counted in the CES estimates?
    It is likely that the CES survey includes at least some undocumented immigrants. However, the establishment survey is not designed to identify the legal status of workers. Therefore, it is not possible to determine how many are counted in the survey.
    The Current Population Survey (CPS), also known as the household survey, does include questions which identify the foreign and native born employees, but it does not include questions about the legal status of the foreign born employees. More information about foreign born employees in the CPS survey is available at http://www.bls.gov/cps/demographics.htm#foreignborn.”


  2. Beth says:

    No doubt this would be an excellent time for student debt jubilee and free K-college education. But then we’d have to make sure that people had somewhere to live, food to eat, childcare, and healthcare so they could successfully focus on their educations and futures.

    We could also make sure that the grinding labor of cleaning, maintaining, and enhancing our developed surroundings was adequately reimbursed, and that those who invested their physical health in the work could retire earlier than those who didn’t. And we could share the fruits of our modern progress with all workers by decreasing the number of hours considered to be “full time” and by decreasing the retirement age for Social Security. Progress should include the concept of less work time required to make the median income. If that means the Public picks up the tab for the Public’s member benefits, so be it. That’s a Group Plan worth joining.

    That’s also just too much to ask of this country. Some wouldn’t know their success if it kicked them in the face, and some wouldn’t know their success without the broken bodies left lying in their paths.

    Invest in an American Energy, Infrastructure, Education, Social Support Policy, and Industrial renaissance, and there will be far more beneficial and worthwhile “jobs” than workers available to fill them. We’re a large country in disrepair with antiquated systems and institutions. There’s lots of worthy work and reforms to implement if Americans could pry the wealth of their labors out of the hands of the hoarders, grifters, gamblers, and warmongers.

    I’ll be we could simply lower the retirement age to 55 temporarily and see if that doesn’t open up a few million jobs.


    • Smith says:

      The current high unemployment and underemployment is caused by lack of demand, debt overhang, and austerity. Ending austerity as states restore budget cuts and modest increases in federal stimulus towards infrastructure, and R&D may suffice.

      Incidentally, there are 33.8 million people age 55 and older working, constituting 21.7% of the workforce. It would be nice to have more options for earlier retirement, and more equitable distribution of income for greater savings or increased social security benefits, none of which is the same as mandatory retirement, an especially egregious form of age discrimination.

      The chronically unemployed, and those in poverty, need more specific programs that addresses their needs. (and not primarily wage subsidies which lowers everyone’s wages and at taxpayers expense while neglecting more substantial reasons for economic and social distress)


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