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Say Hello to Full Employment

theatlantic.com

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Re: Say Hello to Full Employment

#221

Post by s73v3r_ »

plasticchris wrote: post #213
s73v3r_ wrote: post #204

Earlier quoted context omitted.

I cannot disagree more. It's a "minimum wage". What good is it if it's not a living wage? What's the point of having a minimum wage that one cannot survive on?

Because not everyone needs to survive on it. As pointed out above students and the elderly can easily be priced out of the labor market if the minimum wage is pegged to this standard.

I can't really agree. There are enough who do need to survive on it that it should be a living wage. And I can't agree that them being priced out is a problem, because back when it was a living wage, students were able to get part-time jobs at minimum wage just fine.

Re: Say Hello to Full Employment

#222

Post by vivekd »

felix_nagaand wrote: post #179
vivekd wrote: post #176

Earlier quoted context omitted.

Why was this downvoted? Women tend not to be crazy like men and thus are more likely to choose fulfiling careers that have lower pay, and seek more work life balance. When accounting for these factors, the existence of a gender pay gap becomes more questionable.

Citations needed

work life balance: Men work longer hours

https://www.forbes.com/sites/karinagness/2016/06/30/new-repo...

Women tend to choose more fulfilling lower paying careers (last point on fortune and second last on time)

http://fortune.com/2018/04/10/gender-pay-gap-myths/

http://time.com/5230911/equal-pay-day-2018-wage-gap-myths/

I don't have the original studies but I think the news sources here are fairly reliable

Re: Say Hello to Full Employment

#223

Post by opencl »

scarface74 wrote: post #154
duxup wrote: post #143

Earlier quoted context omitted.

Where? Not being sarcastic or anything... really want to know.

Atlanta. Don’t aimlessly submit to job boards. Go through local recruiters.

How am I supposed to go through local recruiters in Atlanta, or have any idea who they are, when I don't live in Atlanta? Are many of these companies willing to pay for relocation?

Re: Say Hello to Full Employment

#224

Post by jmalicki »

quotemstr wrote: post #96
kirbypineapple wrote: post #24

Earlier quoted context omitted.

We'll likely have an inverted yield curve before the end of 2018 for sure. Go back in history to see the correlation to past recessions: https://fred.stlouisfed.org/series/T10Y2Y Obviously it's not as simple as that but it certain implies that something uncommon is happening in the financial markets.

One wonders about the extent to which this correlation is a self-fulfilling prophesy. If everyone gets skittish when indicators look too good and reduce investment, they end up causing the recession that they predict!

An inverted yield curve isn't a random indicator to look for to bet on a recession... rather, it is a sign that the market has bet on a recession. Whether or not the market betting on a recession causes a recession is another question, but it is the skittishness that causes the indicator - so any time you see an inverted yield curve, investors have already become skittish and reduced investment targeted at certain dates.

Re: Say Hello to Full Employment

#225

Post by vivekd »

mmt wrote: post #189
vivekd wrote: post #176

Earlier quoted context omitted.

Why was this downvoted? Women tend not to be crazy like men and thus are more likely to choose fulfiling careers that have lower pay, and seek more work life balance. When accounting for these factors, the existence of a gender pay gap becomes more questionable.

Despite the guideline-flouting/flame-attracting wording, I think there's a kernel of a point here: it's important to consider two seperate pay-gap issues (be it for gender, race, or any other class): 1) equal pay for equal work 2) equal represenatation among (higher paying) jobs I routinely see these two issues conflated, and occasionally the purported resolution of #1 for gender being trotted as evidence of no more…

not every post has to be completely on topic, it was topical to the issue of unreliable figures skewing economic data which was what the subtopic was about. I admit he was bringing up an inflammatory topic, but really I expect a place like hacker news to have a user base that can handle that objectively

As for equal pay for equal work - I'd be very surprised if women aren't getting that, because that's illegal and you'd expect that to show up in the form of many many lawsuits.

Yes there does seem to be an issue of some workplaces that have a boys club type environment and fail to promote women - but I don't know if that's big enough to explain the dramatic wage gaps that are touted by some people.

Re: Say Hello to Full Employment

#226

Post by zeth___ »

Looking at statistics instead of stories:

https://fred.stlouisfed.org/series/IAPCPI

In Iowa 2008 was the biggest drop in nominal personal income since 1955. The period 2009-2017 had the slowest nominal personal income growth since the end of the great depression in 1931. 2017 was one of 3 years to record negative income growth in the last 50 years (2008, 1993).

This all speaks of a labor market working far beneath capacity, one that hasn't yet made up the loss of income from the last recession. One no where close to full employment which leads to constant and substantial overall income gains.

Re: Say Hello to Full Employment

#227

Post by jessaustin »

Veelox wrote: post #124
retbull wrote: post #69

Earlier quoted context omitted.

So instead of having someone pay more for what is a scarce resource lets just reverse inflation? I'm not seeing how that is easier.

Rent, medical expenses, and college expenses have all out paced inflation so it is more important to fix the underlying issues in those markets than force employers to pay more.

Doing away with health insurance and student loans is unlikely to be a popular political position...

Re: Say Hello to Full Employment

#228

Post by lazide »

pmiller2 wrote: post #49
lazide wrote: post #40

Earlier quoted context omitted.

allybank, capital one savings, personalsavings.americanexpress.com, and some others all offer >= 1% interest now. Some are >= 2% that I've run across. Still lower than inflation, but better than .001% Increased fed fund rates and tapering off QE has been having effects. Retail customers generally are unaware of this, so retail banks are still able to not pay any actual interest. A lot of the weirdness in the market (…

Which options over 2% APY do you know of?

Looks like I was wrong (the >= 2% were CDs) - Marcus.com (Goldman Sachs side bank) is currently offering 1.8% though, so not far off.

https://www.marcus.com/us/en/savings/high-yield-savings

Re: Say Hello to Full Employment

#229

Post by jcims »

throawawy3242 wrote: post #166

And here I am. Laid off after 2 months, among hundreds of workers, and unable to find employment. Someone tell me more about these "more jobs than people" again. BTW I have a B.S in Computer Science and living in the USA.

Since you're using a throwaway, could you provide some real details to back your statement? E.g. experience level, skill sets, region, jobs you aren't interested in applying for, what kind of things that you think could make the situation better for you, willingness to relocate, willingness to accept a shit job with a good company to work your way to a better job, etc?

I ask because my mom is a 68 year old woman with a high school education in a rural community and she's had probably 6 jobs in the last two years. They aren't awesome paying jobs but at least half of them were full time and enough to squeak by. She just tries them on for size and quits them if they don't fit. Definitely a job hopper, but I don't understand how she can get so many jobs in a depressed area in the midwest and folks like yourself remain unemployed.

Re: Say Hello to Full Employment

#230

Post by lazide »

HillaryBriss wrote: post #113
lazide wrote: post #40

Earlier quoted context omitted.

allybank, capital one savings, personalsavings.americanexpress.com, and some others all offer >= 1% interest now. Some are >= 2% that I've run across. Still lower than inflation, but better than .001% Increased fed fund rates and tapering off QE has been having effects. Retail customers generally are unaware of this, so retail banks are still able to not pay any actual interest. A lot of the weirdness in the market (…

Some will survive, many won't. how precarious is it? any thoughts/guesstimates on the percentage that will fail because of higher rates?

The Fed had a good graph on the sky high amount of debts many companies are laying on, but I'm having a hard time finding it right now. A bunch of outlets have written on it, here is the first one I found http://money.cnn.com/2018/02/26/investing/corporate-debt-ris...

As to how many will fail is anyone's guess. Retail has already started to have a reaping (with help from Amazon). If a trade war kicks off price increases for goods from China, that probably won't help a lot of them.

Sub-prime auto market is not doing well either, that should hurt auto manufacturer numbers, but nothing crazy there at the moment.

I think everyone is still trying to guess.

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