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February 18, 2013

Where Do They Go?

By David Cox

Wages rose at the ridiculously paltry rate of 0.5 percent, seasonally adjusted for three months and for the year; compensation rose only 1.9%. A desert sheik should run such a frugal household. At 1.9% wage growth, any plans for an economic recovery should be placed well off into the far distant future.

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(Image by The Leftist Review)
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. by The Leftist Review

A ll along the watchtower princes kept the view of strange days and of self-same nights.

This month's Bureau of Labor Statistics report expresses the symptoms of a lingering stagnation that smells. Actual new job hires were 17,000 in a labor population of nearly 157 million; two million more working compared to last year, with another two million more "no longer in the labor force." Either way, split the difference as the number of officially unemployed grew for a third consecutive month to 12,332,000.

Wages rose at the ridiculously paltry rate of 0.5 percent, seasonally adjusted for three months and for the year; compensation rose only 1.9%. A desert sheik should run such a frugal household. At 1.9% wage growth, any plans for an economic recovery should be placed well off into the far distant future. It's true you know, you can't stand still. You're either getting better or you're getting worse. The numbers all meander around so, up one month and down the next, but never improving outside of a narrow range.

The Bureau of Labor Statistics report says: "Employer costs for health benefits increased 2.8 percent over the year. In December 2011 the increase was 3.5 percent." Who paid that increase? So the averages for Americans of all stations are falling backwards. Take heart ye of the class struggle, wages for the higher-ups are doing only proportionally better. Retail workers' wages increased an average of ten dollars a week, while their boss made twenty. But either way it's only McDonald's money.

Weekly hours worked are down in every employment category year after year, save for business services and healthcare. It's not just a slowdown in this industry or in that, it is a widespread malaise. In its January report the BLS is careful to mention in the footnotes: "Note: Updated population controls are introduced annually with the release of the January data."

Median unemployment duration in weeks:

October -- 19.6

November -- 18.9

December -- 18.00

January -- 16.00

I never would have guessed that they adjusted the population controls, would you? Such adjustments make it difficult to assess changes over time through data comparisons and what they're saying numerically doesn't truly express the meaning existentially. It means if you were to lose your job today, on average, in a best case scenario, you won't find a new job until June.

Now take a look at the average length of stay on unemployment.

click here



Authors Bio:

I who am I? Born at the pinnacle of American prosperity to parents raised during the last great depression. I was the youngest child of the youngest children born almost between the generations and that in fact clouds and obscures who it is that I am really.

Given a front row seat for the generation of the 1960's I lived in Chicago in 1960. My father was a Democratic precinct captain, my mother an election judge. His father had been a Union organizer and had been beaten and jailed for his efforts. His first time in jail was for punching a Ku Klux Klansman during a parade in the 1930's. I never felt as if I was raised in a family of activists but seeing it print makes me think, yes. That is a part of who I am.

We find ourselves today living in a world treed by the hounds of madness, a complicit media covering contrite parties. Multilevel media, giving more access to communication yet stunting actual communication. More noise, less voice, more sound less music, more law less justice, more medicine less life.


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