SD emerges from Great Recession

I am being lazy on this post because I did not do any research. As I recall, about 7.5 million jobs were lost during “the great recession.” I’m not going to quote any numbers, but the problem is that even “glowing job reports” and “low unemployment figures” hide the real story. The jobs that are being created are usually low wage jobs, without benefits, part time, contract or temporary employment and in retail or service industries. Even those jobs that are created cannot keep up with the number of people entering the workforce. Add that good paying jobs are now frequently outsourced to India or elsewhere, or even insourced to the U.S. via various visa schemes such as the H-1B and L-1 visas. There is a huge job gap remaining from the recession that may not be filled for another 5 years. That is one reason why so many people have given up. The Millennials are a very “youth oriented” generation, they are now in HR and management and they discourage hiring older workers. They sprinkle their employment ads with word and phrases like energetic, active, “don’t bore us,” “possess the latest skill set”, “full stack” and “you need to prove how you thrive in a fast-moving environment.” There is no end in sight to more mergers and acquisitions and while Wall Street continues to be in a bull market, companies are again laying off in huge numbers. I’m not sure raising the minimum wage will do anything but stimulate more inflation. I am against any minimum wage increases because I don’t feel it empowers workers; it just empowers the elite to raise rents, raise utilities and raise all other living expenses. Then we have screwed the retired fixed income folks and the working poor find themselves back at square one. The cycle repeats. However, it feels good for a while, especially during an election cycle. Here’s some humor about outsourcing, I have probably posted it before. Maybe years ago, but it’s still very relevant. https://www.youtube.com/watch?v=pKv6RcXa2UI
— October 17, 2015 7:48 p.m.

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