Tuesday, August 20, 2019

Making Less on More?

One of the things that you hear a lot is how good the economy is doing.

Another thing I hear a lot is how people are struggling to make ends meet.

These two things seem incompatible unless you consider some facts.

Unemployment is low but the jobs are not as good as they used to be for many as low paying service jobs replaced manufacturing jobs.

Jobs used to offer fairly comprehensive benefits including pension and health and now they have reduced both of those dramatically.

While average wages seem to be going up, the wages at the top are going up much more than wages in the middle and bottom.

Many of our recent and not so recent graduates are saddled with debt payments that they mat never be free of.

Much of the economic boon has been retained by industries or distributed to shareholders who are among those high earners already.

So as we migrate to a nation of haves and have nots, the have nots face increasing struggles to make ends meet.

Yet the statistics look good.

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