Economic Recovery in America

[Razgovory]

That's quite a graph. I think I felt my heart sink into my stomach.

I guess I can see how some nationless billionaire nomad with an entirely global perspective on the economy might look at that graph and go "yep, that's hunky dorey!" but I can't imagine how any American with even a teaspoon of nationalism left in him would think that was okay.

If you take a look at it, the percentage of Americans with a job now is actually higher than it was in the early 60's.  What's changed is the percentage of Americans in the job market.  50 years ago, a fairly substantial percentage of female Americans were still full-time homemakers and weren't in the job market at all, and nowdays people are more likely to keep working past retirement age as well.  So if you want to reduce unemployment and raise wages, there are 2 pretty obvious solutions:  first, roll back feminism and get the womenfolk back in the kitchen, and second, make retirement mandatory at a certain age.

And no, I'm not being facetious, but OTOH I'm not seriously suggesting that we rollback feminism, either.  I'm saying that the social and legal changes in women's status has unintended economic sideaffects--specifically, by bringing more people into the labor market, it has increase unemployment and decreased wages.  (I'm also not saying that it's the only factor in play here.)

More women working is less a function of feminism but of households inability to survive on one income.  Women working hasn't hasn't caused the decrease in wages but is caused by the decrease in wages.  After all it was common for women to work before WWII.

[Phillip V]

Of course, another option is to incentivize one parent staying home (gender irrelevant). Right now, there's no way that millions of families will be able to survive on one paycheck without some assistance.

Make it worthwhile - and possible - for a family to live with only one paycheck, if this is the issue. Again, which gender is irrelevant.

Millions of poor families (assuming two parent household) would not be able to survive on one paycheck.

However, the millions of upper and even middle class families (with two working parents) can survive on one paycheck. But I doubt they would be able to stomach the resulting drop in luxuries and personal/professional "self-worth".

[Josquius]

Besides, the goal for any company is to reach that ideal ratio of maximized profit, where the most money can be earned using the least amount of employees. 

The problem with modern business

[Admiral Yi]

Besides, the goal for any company is to reach that ideal ratio of maximized profit, where the most money can be earned using the least amount of employees. 

The problem with modern business

That's nonsense.

[Richard Hakluyt]

Yeah, let's ditch the combines and get the harvest in with scythes, it'll reduce unemployment 

[fhdz]

Yeah, let's ditch the combines and get the harvest in with scythes, it'll reduce unemployment 

It would certainly help with our obesity problem.

[garbon]

That's quite a graph. I think I felt my heart sink into my stomach.

I guess I can see how some nationless billionaire nomad with an entirely global perspective on the economy might look at that graph and go "yep, that's hunky dorey!" but I can't imagine how any American with even a teaspoon of nationalism left in him would think that was okay.

Well I would just say that I don't understand why they are being charted together as it is clear that there really isn't a correlation.

[garbon]

Of course, another option is to incentivize one parent staying home (gender irrelevant). Right now, there's no way that millions of families will be able to survive on one paycheck without some assistance.

Make it worthwhile - and possible - for a family to live with only one paycheck, if this is the issue. Again, which gender is irrelevant.

Millions of poor families (assuming two parent household) would not be able to survive on one paycheck.

However, the millions of upper and even middle class families (with two working parents) can survive on one paycheck. But I doubt they would be able to stomach the resulting drop in luxuries and personal/professional "self-worth".

I grew up in a middle class family with only one parent working. We hardly were "wanting."

[merithyn]

Millions of poor families (assuming two parent household) would not be able to survive on one paycheck.

However, the millions of upper and even middle class families (with two working parents) can survive on one paycheck. But I doubt they would be able to stomach the resulting drop in luxuries and personal/professional "self-worth".

I'm sorry that a person feels a need to leave the house and do something beyond changing diapers and cleaning up baby puke in order to feel a bit of "self-worth".

[fhdz]

nowdays people are more likely to keep working past retirement age as well

Uh, they're doing that because they can't make ends meet on Social Security alone, not because they are feeling really peppy about going to an office job at 70 years old.

[fhdz]

That's quite a graph. I think I felt my heart sink into my stomach.

I guess I can see how some nationless billionaire nomad with an entirely global perspective on the economy might look at that graph and go "yep, that's hunky dorey!" but I can't imagine how any American with even a teaspoon of nationalism left in him would think that was okay.

Well I would just say that I don't understand why they are being charted together as it is clear that there really isn't a correlation.

I'm not sure it's as clear as you say it is.

[garbon]

That's quite a graph. I think I felt my heart sink into my stomach.

I guess I can see how some nationless billionaire nomad with an entirely global perspective on the economy might look at that graph and go "yep, that's hunky dorey!" but I can't imagine how any American with even a teaspoon of nationalism left in him would think that was okay.

Well I would just say that I don't understand why they are being charted together as it is clear that there really isn't a correlation.

I'm not sure it's as clear as you say it is.

For most of the graph, declines and increase in employment appear to have no affect at all on corporate profits.

Profits continue to rise even when you see the slight rally on employment in '05-'09. Profits sky rocket in '10-'14 period while employment remains stagnant/low.

[Eddie Teach]

I thought the point of the graph was that there was no correlation, though there should have been.

[crazy canuck]

Re: women's participation in the work force - one big factor is all the time saving devices we now have for household chores that used to take many more hours to do.   Someone had to stay home to do all that work.  That is no longer true and hasnt been for several decades.

[viper37]

Of course, another option is to incentivize one parent staying home (gender irrelevant). Right now, there's no way that millions of families will be able to survive on one paycheck without some assistance.

Make it worthwhile - and possible - for a family to live with only one paycheck, if this is the issue. Again, which gender is irrelevant.

Millions of poor families (assuming two parent household) would not be able to survive on one paycheck.

However, the millions of upper and even middle class families (with two working parents) can survive on one paycheck. But I doubt they would be able to stomach the resulting drop in luxuries and personal/professional "self-worth".

they might survive, but they'd need to live as they did before: no phone, no tv, no internet, no car.