Article: Most Americans make less than $20/hr

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As asked by a coworker I'd like to hear how the magnates think having 10's of millions of systemically poor people (and increasing) will eventually pan out for them. If you diminish the purchasing power of the middle class, you are gnawing @ your own leg.

The at risk people I know do not have a spending or 'not working' issue.
 
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Originally Posted By: The_Eric

Sure there are good paying jobs out there- no doubt Pop_Rivet will be along to inform us that if we had only lived a life of hard work, clean eating and went to college to study hard, we too would never make less than a lowly $20.00/hr. There is truth to that statement, but no too long ago it wasn't too hard for high school graduates to work a skilled/non skilled labor position and with some smart spending, live a good life. Those jobs are getting fewer and farther in between.


The world changed while you were asleep, Rip.

I can't imagine anyone with only a high school education, especially as poor as the education system in the US has become, to expect much more than minimum wage. In order for someone to expect a higher wage, they need to invest in themselves.

There are a lot of higher paying jobs available. Not too far from here Facebook just began putting their newest facility on line, staffed with people who all earn well over $20/hour. They are people who invested in their education and became extremely skilled at what they do. They are reaping the benefits of investing in themselves. In a year or so Facebook will double the staff when the 2nd data center opens. Facebook located here in part because Iowa was able to supply them with wind energy, a field that has a high demand for technicians to keep the wind towers serviced. Those jobs pay well over $20/hour, but also require post high school education.

There is also a huge opportunity in the skilled trades. But again, to suggest that people can or should be able to step into a high paying job without post-high school education is pure ignorance. The days of graduating high school and stepping into a job assembling widgets for a living wage are long gone. Even the skilled trades require post-high school and apprenticeship training.

You can spend your time lamenting about how it used to be, or you can keep up and change with the times. In order to be successful people have to invest in themselves beyond a high school education. Whether they choose a skilled trade career or a career requiring a college degree is up to them. But they'll never get anywhere without some sort of additional education.

Originally Posted By: 04SE
American's don't have an income problem. They have a spending problem.



Agree, to a point. When you look at some of the posts on here and see people leasing/making payments on cars they can't afford, and buying the latest cell phone gadget every few months, it's clear that many do have a spending problem. But some of them could well afford more if they took the time to invest in themselves and further their education. Instead they feel the need to keep up with the Joneses and waste their efforts on material things rather than things that will make a real, financial difference in their lives.

Originally Posted By: Kruse
A lot of people will be getting salary raises in the next few years because the people of their state voted in mandatory minimum-wage pay hikes during this last election. I don't know if it's something to be happy about or if it's something that pathetic.


Anyone who depends upon a politician to give them a raise deserves to be working for minimum wage.
 
locally, the cheapest one bedroom apartment is about $900 per month, unless you live in the slums, which is clearly unsafe. I'm sorry, but at $15/hr, it's difficult or impossible to afford the transportation to/from job and rent and food. Been there, done that.
 
^exaclty.

I love the term "wage slave" btw. Under most circumstances, people have made themselves slaves. Not going to school. Being content with entry level jobs etc. Being content with your job is one of the worst things a person can do IMO.

I'm in college. I have no skill. I'm doing what people my parents age are doing. I would almost make the case that I work with more integrity, but I make much less.
 
This article cites "all workers covered by the establishment survey", which is pretty much any one. This would include all part time employment too. When I think about every single person earning some type of wage in the country having 51% of them at $20/hr or less makes sense. I'm surprised it's not more. I'm not even sure if and how you'd include employees who's majority of income is by gratuity.

The mean wage of all full-time employed people is what matters to me. Does anyone have that?
 
One might reasonably assume those folks are not likely to be prime candidates for Goldman Sachs Global Investment Research's investment services.
 
The world changed. Things are way more competitive and with globalization you compete for jobs with everyone else on the planet. That is reality and no amount of whining or government regulation is going to change that. Those in the US are very lucky to be in a place where schools and training while not cheap are quite abundant.

You can no longer graduate from High School and go get a job that pays well working an assembly line or performing some service or other task that 10 year old can be trained to perform. Those days are over. However you can graduate HS and either attend specialized technical training school or go to college and study a high demand major (ex. food science, computer science, mechanical/electrical/civil engineering, biomedical science, etc) and come out to make $25-50/hour to start.

Or you can go to college and study art history or sociology and end up working at Starbucks and heavily in debt.

Many companies currently have multiple high tech $60-75/hour jobs open and can't find qualified candidates.

So some things haven't changed at all - the smart and industrious folks are smart and careful in how they invest in themselves and can do very well in the current US economy. The "casual" folks that can't be bothered to plan, invest, and work towards their future are very much screwed these days...they assume that the world owes them a living despite their lack of valuable skills and knowledge.... honestly why do they deserve any more than menial wages?
 
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Originally Posted By: antiqueshell
I bet it is less than 15$/hr.

The vast majority of the "middle class" will be gone in thirty years.

It has little to do with skill set today, it is the
scurge of Globalism that is to blame.

If you allow your country to compete with countries of people that are essentially serfs and wage slaves (China) you too will
end up the same.

America is going backwards, and will probably be a developing country in the next three decades or so. I would say the US will look almost exactly like Brasil, and that is NOTHING to brag about.


Bingo!!!!!

We are plummeting to a 3rd world labor market as the ruling elite make money in the developing markets in China, Korea, India, and Mexico.

The purpose of NAFTA was to crush the US middle class.

Politicians act like they don't understand the stagnation within the middle class when they caused the problem.

It's worldwide income redistribution.
 
What inflation are you speaking of?
USD inflation has averaged a bit under 2% over the past thirty years plus.
2% is considered the desirable currency inflation target by most central banks, including the ECB.
The problem is that we may be experiencing actual deflation and many here and in Europe are seriously concerned about this.
Imagine the nominal value of your debts remaining constant as your nominal income declines even though your real income may be increasing.
I think that you may also be confusing changes in relative prices with inflation.
They aren't the same things at all.
 
The two class system is alive and well in China.

Exploited and exploiters.

The exploiters are buying BMW's at a brisk rate.
 
Both my sons joined the Air Force after high school, neither wanted to go to college. They are both air traffic controllers and plan on staying in the military.

I told both of them it's better to join the military than be in college undecided what major / career field to go into. Many kids in college change their major a few times. This economy is very tuff for young adults entering the workforce.
 
Sure, but you have to bear in mind that BMW is considered nothing like the gold standard it was back in the '90s.
Lexus and Cadillac are eating BMW's lunch here and many potential buyers see the current generation of cars as faux BMWs.
A less sophisticated Chinese market probably still sees a BMW as a symbol of having arrived.
We here often see a new BMW as an example of a car driven by someome with more pretentions than knowledge or money.
Different markets with different levels of sophistication.
Good that BMW has people in Asia to buy their cars.
 
Originally Posted By: fdcg27
Sure, but you have to bear in mind that BMW is considered nothing like the gold standard it was back in the '90s.
Lexus and Cadillac are eating BMW's lunch here and many potential buyers see the current generation of cars as faux BMWs.
A less sophisticated Chinese market probably still sees a BMW as a symbol of having arrived.
We here often see a new BMW as an example of a car driven by someome with more pretentions than knowledge or money.
Different markets with different levels of sophistication.
Good that BMW has people in Asia to buy their cars.


Ouch!!
wink.gif
 
It's rough choosing a college major when the carpet gets ripped out from under the market before you get your degree. Engineering/ Computer Science are current examples of stuff that either gets shipped off to India or we bring someone in on a talent visa. Nursing's still cool, unless you help dark skinned folks with bloodborne disease, then you get three weeks in solitude as a how-ya-do.

Or if someone chooses some middle class stronghold like being a police/ fireman, there'll always be some naysayer ripping on them for coincidentally belonging to a union, and insinuating they didn't directly earn their salary.

Then you get people with pensions, agreed upon by both sides in charge, and these same people are maligned for fighting against concessions. Tortoise and hare!

My town hires snow plow drivers and pays them overtime. They choose the lifestyle, and count on that OT on top of a meager base rate. Some ninny appears at times to wag a finger and demand less OT... well, jeez, it's not 100% predictable, but what's their better idea to get all hands on deck?
 
OTOH, an old M5 is a real BMW by any measure, just as an old NA high winding four cylinder car is and I know that you knew what you were buying when you bought your M5.
Feel better now?
 
too many welfare people earning 100$ a week brings the average down,

I'd like to know what the average a full time employee makes in the USA.
 
Originally Posted By: fdcg27
OTOH, an old M5 is a real BMW by any measure, just as an old NA high winding four cylinder car is and I know that you knew what you were buying when you bought your M5.
Feel better now?


LOL! I know what you have in your signature, which was why I got a bit of amusement out of your statement, which was factually correct IMHO. I commented for that reason
grin.gif
 
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