To illustrate, many working 30 hours before will work two jobs, one for 20 hours and one for 10 hours. The total salary could be higher but you have to consider the commute time/cost for the second job and the idle time between jobs.
The new yardstick for unemployment rate:
- median salary.
- participation rate (counting those not participating due to the unemployment benefits have been exhausted).
- not counting some twice.
- the rates of changing of the above.
is a problem to employment. Globalization allows the companies to hire
the best at the least costs in any country. With all the regulations (to
'protect' our workers). welfare, entitlements and the burden to service
our debts (that's why excessive printing money is not a long-term
solution), the US economy does not look good and we cannot compete in
Most service jobs cannot provide good income. The
days of leading a middle class living style by sweeping floors in a GM
plant are long gone.
* Min. wage to $16! In Boston, they ask only for $15.
much does the recent graduate make? If they make about the same, why
they go to college except having a good time, finding spouses and paying
the college loans for the rest of their misery lives.
are: 1. Many wage conscious companies such as MCD will lay off
employees. 2. Some welfare assistance could be reduced due to rising
salary. 3. We are less competitive in some factory jobs compared to many