Jobs are Back!
- The U.S. has regained the 8.7 million jobs lost in the recession, but the average wage has dropped 23 percent, according to a U.S. Conference of Mayors study released today.
The report, “U.S. Metro Economies: Income and Wage Gaps Across the U.S.,” also found a widening income gap between the rich and poor, with the highest earning 20 percent of households gaining the most. Chicago mirrored the national trend.
“While the economy is picking up steam, income inequality and wage gaps are an alarming trend,” said Kevin Johnson, conference president and mayor of Sacramento, Calif. The organization expects the trend to continue.
The average annual wage of jobs lost in 2008-09 was $61,637 nationally, while the average wage of jobs added through the second quarter of this year was $47,171, according to the report, prepared by research firm IHS Global Insight. Jobs were lost in high-wage manufacturing and construction, and replaced with jobs in lower-wage sectors such as hospitality, health care and administrative support.
The 23 percent wage gap compares with 12 percent drop after the 2000-03 recession, the report said.
Elections have consequences - and we'll will be paying for the past few for decades to come.
Labels: general
posted by SCC at 12:03 AM
28 Comments:
You can read ALL the reports you want, the reality is jobs are nowhere to be found (in Illinois) and if there are any - they are minimum wage or part-time jobs.
Illinois is not at break even on jobs last I checked.
We "mirrored the nation" my azz.
The recent food stamp caseload report is back on the rise after it's seasonal dip though.
Illinois caseloads from 2,006,258 to 2,020,820 an increase of about 14,000 in one month.
http://www.fns.usda.gov/sites/default/files/pd/29SNAPcurrPP.pdf
Oh and..
Chicago Daily Herald-by Anna Marie Kukec-Jul 28, 2014
The former Motorola Mobility campus in Libertyville has been sold for $9.5 million
Motorola Solutions to shrink — again
Faced with a slump in its core police-radio business and the pending spinoff of its bar-code reader unit, Motorola Solutions Inc. is planning deeper cost cuts, including layoffs.
The Schaumburg-based company said today it will cut $300 million in operating expenses by the end of next year, up from a previous goal of $200 million.
CEO Greg Brown didn't specify where he'll cut, but expect the hunt for savings to be widespread — including property and people.
( like layoff people until you can dump your Illinois property and move out, right?)
Motorola already has sold off a piece of its sprawling headquarters campus to insurer Zurich North America, and it's trying to sell another building.
Motorola has done buyouts or cutbacks that included support staff, engineers and vice presidents.
LOCAL IMPACT
By the end of the year, after the sale of its bar-code business to Lincolnshire-based Zebra Technologies is complete, the company will have shrunk to about 15,000 employees worldwide from more than 21,000, with about 4,000 in Illinois.
In little more than a year, the company will have cut about 1,400 jobs, or 7 percent of its workforce, including 400 in Illinois. Much of the cutting has come from headquarters support functions as Motorola retrenched to a single business — public safety radios — from a company that just three years ago also made cellphones, set-top cable TV boxes, bar-code scanners and wireless computer-networking gear.
Motorola said it will cut annual operating expenses to $1.7 billion from about $2 billion last year.
http://www.chicagobusiness.com/article/20140805/BLOGS11/140809915/motorola-solutions-to-shrink-again
But hey, we got a bunch of insurance agents in place of a high tech industry with living wage jobs right? Woo-hoo!
And we'll just see how long that other Moto division that sells cell phones, that has been sold to China sticks around too once the deal is finalized.
Cell phone prices have been dropping like a rock so instead they brag how many units were shipped as opposed to profit margins
And then there was Quinn's boasting about Illinois coal industry creating jobs just a few months ago.. Whelp...
As coal struggles, the blame game begins
Al Jazeera America-Aug 11, 2014
As the coal industry suffers through year after disappointing year in the U.S, NRG Energy cease coal burning at its Romeoville, Illinois plant, eliminating 250 jobs. The week prior, Alabama Power announced it would close two coal power
http://america.aljazeera.com/articles/2014/8/11/coal-blame-game.html
Everything is just peppermint crapping unicorns and rainbows in Illinois.
FOUR MORE YEARS -- FOUR MORE YEARS
Excluding Chicago, if you take the populations (2010 U.S. Census data) of the seven other most populous cities in the nation and their respective city council members per capita for comparison, Chicago should have no more than SEVENTEEN (17) wards/city council members.
SEVENTEEN (17) WARDS eliminates 33 aldermen.
Oh my god this article is so full of lies. The jobs we have gained are majority low wage or part time jobs. They are not the same quality of good paying jobs we lost before the recession.
Then you must also factor in the Federal Reserve's QE and ZIRP stimulus plans. How many jobs would be created without this artificial stimulus??
AND if the economy is doing so well, why do we still have 40+ million people on food stamps and gigantic trade deficits ??
THE TRUTH IS WE ARE STILL IN A RECESSION !
Im sick of the lies about job growth the media is spewing without doing any real in-depth research !!
The media often complain about the high wages and cost of pension for union outfits. The reality of the situation is that union outfits and fraternal organizations have just barely kept up with inflation. It is a shame that average working folk can no longer afford a middle class lifestyle without a college education or high skills.
Smoke and Mirrors The numbers are wrong. If you count those on Public aid as also unemployed, the the unemployment rate is almost 40 to 50%
Just more Lies by the Democrat (Communist) Party Tools. Simply not True.
Illinois is a Welfare State, NOT a working State. Democrat (Communist) Leadership made it that way
what's the workforce participation rate? 63% the lowest since the Carter Years. Workforce participation rate is the only statistic that can't be fudged,
Are most of those mayors democrats? Either way those numbers are probably bullshit.
I don't beleive anything that the government puts out.
I don't beleive the jobs report, I don't beleive the housing report, I don't believe the economic reports.
It is all smoke an mirrors.
Everything I need to know about jobs and the economy is on "How Its Made". Once a machine becomes less expensive than a person, the person is gone. I'm old. I remember when skilled factory workers made good money; now the jobs are exported until a machine can do them cheaper.
Income inequality - my ass. We don't have to be equal. You want more money? Get a better education and a better job. Start a business.
But stop whining.
Seventeen wards sounds good to me.
Economic collapse is on the horizon.
people making way less=shitty economy makings of a depression
Small to medium size USA business are where it at.Forget being part of the Motorola family or Sears,those days are long gone.
Small independant manufacturing based jobs making a real product is the core.
That's why they want to raise the minimum wage. It's a way to make it appear that better jobs are being created. It's also a way for the democrats to appease their government dependent base.
Walmart and McDonald's has is and always will hire people. They are actually in need of much help. There are openings in the armed forces where they will house and feed people. I don't know where they come up with these stats. I've had a job continuously since I was 15. All though some were low paying part time jobs it was worth it for the money. But then again I want aware of government hand outs as I grew up. If people want to work they can find a job.
Ok. Now that jobs are back, can we get the people off LINK and back to work??????
I didn't think so.
8.7 million jobs back. How come no one mentions that since this clown took office there are almost 100 MILLION people NOT working!! The news lizards keep hiding these facts to cover the WORST president in the history of the country. They say unemployment is down to 6.1% but they never tell you that number is calculated by how many people have STOPPED looking for work. If you've been unemployed for 4 yrs and have stopped looking for work you are no longer considered unemployed so the monthly unemployment figure DROPS! 03 July 14 they cited 288,000 jobs created but they didn't tell you of those, 275,000 are PART TIME! And to put one more log on the fire, 111,000 eligible people 16 or older who can work are not in the labor force. These numbers are TERRIBLE just like our State and City. I am truly afraid for what my children have ahead of them.
Like most observant people, I question the statement "the jobs are back." Are they really, or have they now become part-time jobs that pay no benefits? Contract or permanently temporary jobs that can be eliminated easily with no effect on a company's unemployment insurance premiums? Certainly, it's nice that people are working, but when you factor in that overall they're working for 25% less, that's not "progress" - unless your goal is total dependence on government.
"...the average wage has dropped 23 percent..."
Jesus God.
Things are looking up, though. Got a bank flyer in the mail -- they are offering a staggering ONE PERCENT INTEREST on a money market fund...
Hey, "unaccompanied minors." All the scrap metal is already picked clean, all the lawns are already being cut, and we have plenty of floor-polishers and taqueros.
This is already Honduras up here -- turn it around.
...or keep going north, to Canada.
Now there's a thought.
figures don't lie but liars figure.
1) full time jobs are down.
2) Part time jobs are up.
3) the population increased more than the total number of jobs.
don't have time for cite, but it's on zerohedge somewhere.
"SEVENTEEN (17) WARDS said...
Excluding Chicago, if you take the populations (2010 U.S. Census data) of the seven other most populous cities in the nation and their respective city council members per capita for comparison, Chicago should have no more than SEVENTEEN (17) wards/city council members.
SEVENTEEN (17) WARDS eliminates 33 aldermen.
8/13/2014 02:35:00 AM"
BRILLIANT! Thanks for your sensible and well-reasoned research!
yes reduce aldercreatures to 16 or 17 . keep the 6 that had balls to vote against stopping inspector general from investigating aldercreatures.
Seriously send all illegals to suburban communities that have above average income . Why send them to Chicago.
It's murder Capitol of the Midwest .
“While the economy is picking up steam, income inequality and wage gaps are an alarming trend,” said Kevin Johnson, conference president and mayor of Sacramento, Calif. The organization expects the trend to continue.
Kevin Johnson: former NBA player, alleged sexual abuser of high school girls, and yet another scumbag politician.
http://deadspin.com/the-man-who-helped-bring-down-donald-sterling-is-an-ass-1576960521
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