Wednesday, September 07, 2011



I had to laugh when I read the following line in an article posted on USA Today recently....
Chances are your negative state of mind has a lot to do with the double-dip crowd's Weather Channel-like warnings of another catastrophic economic storm bearing down on the USA.
Look, chanting positive affirmations over and over is not going to zap good jobs into existence out of thin air.
Right now there is intense competition for any good jobs that happen to become available.  For example, last month approximately 17,000 people applied for 600 jobs that came open at Ford's Louisville Assembly Plant.  So those that applied were facing 27 to 1 odds.
The sad thing is that those jobs only paid 15 dollars an hour.  Back in the old days, a job at a Ford plant could easily support an entire family.  One of my grandfathers worked at a Ford plant for years.  Now, such a job will barely get you out of poverty.
But those Ford jobs are far better alternatives than working at Wal-Mart or flipping burgers down at the local Dairy Queen.
When I was growing up, they told us in school that we were becoming a "service economy".  At the time I had only a vague idea what that meant.
Now I know that it means lots of crappy, low paying jobs for everyone.
The following chart shows the growth of service jobs since 1940.  As you can see, we now have almost 6 times as many service jobs in our economy as we did back in 1940....
Now let us take a look at a chart that shows the growth of manufacturing jobs.  As you can see, we now have less people employed in manufacturing than we did 60 years ago even though our population has absolutely exploded since then.  The decline in manufacturing jobs has become especially pronounced over the past decade....

rest here:

No comments: