Home › Forums › Financial Markets/Economics › Great Summary of the American Dream – Top List (ZeroHedge)
- This topic has 11 replies, 4 voices, and was last updated 8 years, 4 months ago by FlyerInHi.
January 30, 2015 at 4:52 PM #21391January 30, 2015 at 7:27 PM #782457AnonymousGuest
[quote] … 8.69 million Americans are “officially unemployed” and that 92.90 million Americans are considered to be “not in the labor force”. That means that more than 101 million U.S. adults do not have a job right now.[/quote]
It only took one sentence for 93 million children and elderly people to become working age adults.January 30, 2015 at 7:35 PM #782459
Yep, that was a stupid metric to use. However, it doesn’t change the fact that working-age labor participation has been falling since the peak in the late 90s.January 30, 2015 at 7:45 PM #782462AnonymousGuest
[quote=spdrun]working-age labor participation has been falling since the peak in the late 90s.[/quote]
I don’t think a world where people work less is such a bad thing.January 30, 2015 at 7:50 PM #782463
I don’t either. But what’s worrisome is that the recent trend is to longer hours, less time off, with less participation. Meaning the working world is polarizing to either jobs with unreasonable demands or no job at all. I think we can agree that that’s a bad thing.
I’d rather see higher participation but lower average annual hours.January 30, 2015 at 7:58 PM #782465AnonymousGuest
Yeah, that’s the tricky part about jobs. They come as a unit and it’s not feasible to divide it across individuals. Especially modern, “knowledge worker” jobs.
I also don’t think that has much to do with any politics or the effectiveness of any leaders. It’s just a reality of the age we live in.January 30, 2015 at 8:05 PM #782466
I disagree — there are plenty of knowledge worker jobs in countries that enforce more severe restrictions on time off and working hours. Most of the world other than the US and Asia, in fact.
People are pushed to work long hours with less time off because the law allows it. If the law didn’t permit it, the market and job descriptions would adjust.January 31, 2015 at 3:56 AM #782472CA renterParticipant
Good posts, spdrun.January 31, 2015 at 7:52 AM #782476AnonymousGuest
[quote=spdrun]People are pushed to work long hours with less time off because the law allows it.[/quote]
Yes, we should simply pass a law that exempts the US from global economic forces.January 31, 2015 at 8:56 AM #782478
By that asinine argument, we should dump all of our environmental and workplace safety rules because we can’t compete on a global basis with the Chinese if we keep them. We’ll have a manufacturing economy again, even if you’ll be able to cut out blocks of air with a knife and have workers working in Industrial Age conditions. Like it or not, working hours and time off are health and safety issues.January 31, 2015 at 10:25 AM #782480AnonymousGuest
[quote=spdrun]By that asinine argument, we should dump all of our environmental and workplace safety rules because we can’t compete on a global basis with the Chinese if we keep them.[/quote]
No, but we must recognize the tradeoff.
My observation is that people who work long hours choose to do so because they want to be competitive.
Labor laws make sense for hourly workers doing mechanical tasks, they don’t work so well for white-collar workers.
The salesman about to close a deal or the building architect about to meet a deadline for a bid probably don’t want the federal government telling them they have to quit before the work is done.January 31, 2015 at 12:48 PM #782483FlyerInHiGuest
I heard that in Germany, you can’t do handyman/construction work on your house on weekends and holidays. I don’t know if it’s true or urban legend.
But I know stores close early so it’s real estate sitting idle for nothing.
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