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US: Middle class is losing jobs
  • Vitaliy_KiselevVitaliy_Kiselev

    Who is the biggest loser in the ongoing decline of the U.S. economy? Is it the wealthy? No, the stock market has been soaring lately and their incomes are actually going up. Is it the poor? Well, the poor are definitely hurting very badly, but when you don't have much to begin with you don't have much to lose. Unfortunately, it is the middle class that has lost the most during this economic downturn. According to Bloomberg, 95 percent of the jobs lost during the recession were middle class jobs. That is an absolutely astounding figure.

    Read the rest at: http://theeconomiccollapseblog.com/archives/95-percent-of-the-jobs-lost-during-the-recession-were-middle-class-jobs

  • 13 Replies sorted by
  • bubbabubba

    Yep, I'm a pharmacist ...and Americans take lots of drugs!

    But... I've been out of work for 11 months.

    Who'd figured?

  • brianlucebrianluce

    I've been hearing lately that the private sector has been gaining jobs for many months now. All the job losses are government jobs. Amid lower tax revenue due to the recession, state and local governments have cut 455,000 jobs since the beginning of 2010, almost half of them in education.

  • Vitaliy_KiselevVitaliy_Kiselev

    Other good article on same site:

    The unemployment crisis in America is much worse than you are being told. Did you know that there are 100 million working age Americans that do not get up in the morning and go to work? No wonder why it seems like there are so many people that do not have jobs! According to the federal government, there are 12.6 million working age Americans that are considered to be "officially" unemployed, but there are another 87.8 million working age Americans that are not working either.

    Let's take a look at the employment to population ratio for the last six years for the month of March....

    • March 2007: 63.3%
    • March 2008: 62.7%
    • March 2009: 59.9%
    • March 2010: 58.5%
    • March 2011: 58.5%
    • March 2012: 58.5%

    http://theeconomiccollapseblog.com/archives/there-are-100-million-working-age-americans-that-do-not-have-jobs

  • kicapkicap

    This is what the rich really wants. To keep just enough ratio between the Rich and Poor (meaning the working class/ middle class) so that someone will keep an eye for their wealth from the Poor who will be trying to steal it once they are so desperate. It works in Asia and will also work in the States. Pretty sad though. Malaysia is also going down this road. Australia seems to be the only country (among others) that really manage to close the gap and keep the middle class group big enough to sustain a good economy.

  • Vitaliy_KiselevVitaliy_Kiselev

    @kicap

    You are wrong here.
    Thing that you see is carefully planned elimination of the people whom we previously knew as "middle class". This class played his role and is not required right now.
    Most of them will go much lower. Small part will go up. And others will work much more to keep afloat.

  • brianlucebrianluce

    The elites shouldn't squeeze the middle too hard -- that's where the talent and innovation is. Also, so great new theories show that the best way to national prosperity is via social justice. Greed doesn't pay.

  • Vitaliy_KiselevVitaliy_Kiselev

    The elites shouldn't squeeze the middle too hard -- that's where the talent and innovation is.

    Yep, many "creative" motherfuckers. Sadly no one cares :-)

    Also, so great new theories show that the best way to national prosperity is via social justice. Greed doesn't pay.

    All present history, contrary to paper theories, shows that greed does pay.

  • brianlucebrianluce

    in the age of Kings, wealth stayed with elites. But they didn't last -- so it must not work that great since all unraveled. now we have the modern era of parliamentary governments and laws. A much better system for creating wealth and fostering innovation. Basing a society on our most base impulses of greed and avarice is unwise and in the long term doesn't work. Marginalize the "Creative Motherfuckers" and you end up with world that looks like Las Vegas.

  • bwhitzbwhitz

    "The elites shouldn't squeeze the middle too hard -- that's where the talent and innovation is."

    "Yep, many "creative" motherfuckers. Sadly no one cares :-)"

    Yea, why would the current elites want innovation?

    "Marginalize the "Creative Motherfuckers" and you end up with world that looks like Las Vegas."

    This is my dream. :)

  • brianlucebrianluce

    Yea, why would the current elites want innovation? XXXXXXXXXXXXX

    That's a fair question. Presumably if a guy is all about greed and avarice, he's going to want to keep adding to his fish pile. Mo' money mo' money mo' money.

  • kicapkicap

    And then what? History has proved that this type of greed will destroy itself at the end. Why can't people just learn to share more?

  • Mark_the_HarpMark_the_Harp

    @kicap I hear you and agree in principle. But maybe those at the bottom don't have the money to share and those at the top have the money and won't share. Which would leave the people in the middle - except there are fewer of those by the day.

  • johnnymjohnnym

    Maybe this time it will be different, maybe not. If it isn't, we'll probably not survive.

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