General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJobless Rate -4.9% /240, 000 jobs created
President Obama has been a fantastic economic steward.
JackInGreen
(2,975 posts)Pay a living wage?
whatthehey
(3,660 posts)So presuming you believe $44200 is living, the answer is more than half of them and increasing.
KentuckyWoman
(6,679 posts)You are talking paychecks right?
They may be reporting that but I don't believe it for one second. $650 gross maybe but not $850.
whatthehey
(3,660 posts)there is a seamless watertight decades long conspiracy at the BLS involving hundreds of employees of all political persuasions, serving both D and R administrations, to mislead people about what they are getting paid, and in such a way that would likely breed more unrest rather than less. Because if they wanted to serve political expediency and were willing to outright lie as you suggest, the BLS would UNDERreport earnings, thereby making more people feel they were doing relatively ok.
I'm not buying option B.
KentuckyWoman
(6,679 posts)I see the W-2s. With the exception of a few in high income areas, every tax accountant in this country and will tell you the median gross yearly income for people on PAYCHECKS is about $30000. This would not include the other forms of payment upper level workers get paid that can skew the median.
BLS and I are talking apples and oranges. If you feel better by all means use BLS to justify whatever you want. I'm just telling you that is not reality on the ground.
whatthehey
(3,660 posts)It doesn't matter if CEO X gets paid nine figures, he only counts as a single person to calculate the median, so skewing at upper levels is immaterial. It's what medians are designed to eliminate. This is not a mean or mathematical average but the earnings of the person in the exact middle of all incomes listed in order.
Accountants I would hope are also numerate enough to understand the dangers of extrapolating from non-random samples, such as those choosing to use a given accoiuntant.
Wednesdays
(17,376 posts)KentuckyWoman
(6,679 posts)While you are busy extrapolating, most Americans are trying to figure out how to avoid putting this week's groceries on the credit card. So go ahead, make assumptions about my professionalism or intelligence if that makes you feel better. It bothers me not. This isn't about me or what you think I do or do not understand. This is about real people who are hurting badly.
$44000 a year isn't big money these days but the reality on the ground is far worse.
pinqy
(596 posts)In the survey of 623,000 worksites, each location is asked the total number of employees, the total number of production/non-supervisory employees, and the number or female employees. They are also asked the total number of regular and overtime hours and the total payroll. The total payroll is divided by the number of regular hours and 1.5 times the number of overtime hours to get the average hourly earnings. Then the average weekly earnings are calculated.
KentuckyWoman
(6,679 posts)I detest how they come up with figures. In my opinion it has never matched the reality in the real world since the beginning of time. Periodically they tweek what they do but it seems every time they just skew the numbers worse.
Thanks again for the post. It highlights how flawed the system is.
pinqy
(596 posts)I'm not sure what you think the flaws are or what you think would be a better method.
Dawgs
(14,755 posts)Not sure what he's done to create any.
DemocratSinceBirth
(99,710 posts)Please feel free to verify my claim.
Thank you in advance.
Dawgs
(14,755 posts)I'll stick by what I said.
DemocratSinceBirth
(99,710 posts)And I'll stick by my allegation your unsubstantiated and biased observation is erroneous, ergo:
On many fronts, there's a lot to cheer. More people are getting back to work. Gas prices are extremely low. The stock market is back near its all-time highs. Home prices have rebounded in most parts of the country.
Even wages and consumer spending are finally starting to show signs of a pickup.
Unemployment is now down to 5% -- a healthy level that the U.S. hasn't seen since before the financial crisis of 2008
http://money.cnn.com/2015/11/06/news/economy/obama-jobs/
That was easy.
That article is from November. The economy has added hundreds of thousands of jobs since then.
bhikkhu
(10,716 posts)DemocratSinceBirth
(99,710 posts)KentuckyWoman
(6,679 posts)If an employee finds someone who lasts 90 days they get $300. Plus they are offering $9.25 to start.
No I'm not saying this is good money. Of course it's shit. But if the fast food joints are motivated to give anything at all it's because the labor market is getting tight.
DemocratSinceBirth
(99,710 posts)Every economist from Hayek to Marx would agree with that observation. That's why Marx and Engels spoke of "the reserve army of labor" that keeps wages down.
Given the fact the Republicans have done everything to thwart President Obama's attempts to stimulate the economy he has done a Hell of a job.
mcar
(42,333 posts)DemocratSinceBirth
(99,710 posts)Does that not sound like something a Republican would suggest ?
mcar
(42,333 posts)I'm sure you can understand why.
DemocratSinceBirth
(99,710 posts)Hanlon's Razor- Never attribute to malice that which can best be attributed to incompetence.
mcar
(42,333 posts)After seven years of reading similar remarks about our Democratic president, I have my doubts.
DemocratSinceBirth
(99,710 posts)mcar
(42,333 posts)DemocratSinceBirth
(99,710 posts)Barack Obama closed down two unwinnable wars and ended The Great Recession. That's a great first line of his presidential record.
MrWendel
(1,881 posts)for Obama haters ... ... not so much.
salinsky
(1,065 posts)... although it's true that wage growth remains a problem.
Nearly every Democrat has voiced support for measures that would seek to mitigate the exploding income inequality gap.
Nearly every Republican has voiced opposition to any measure that would seek to mitigate the exploding income inequality gap.
Tell me again, how any Democrat can suggest that they will take their ball and go home if their preferred candidate is not the nominee??
DemocratSinceBirth
(99,710 posts)The M E is in turmoil but that is the residue of GOP military adventurism and factors intrinsic to the region.
salinsky
(1,065 posts)... history will look very, very kindly toward President Obama.
DemocratSinceBirth
(99,710 posts)salinsky
(1,065 posts)... it's new for me to see this behavior in so-called "Democrats".
But, I'm new to DU, so ....
DemocratSinceBirth
(99,710 posts)KamaAina
(78,249 posts)napkinz
(17,199 posts)pault420
(26 posts)Just saying.
I don't know when the last time anyone was able to preside in such a low interest rate environment. He's doing a decent job regardless.
One thing that we don't know though is the true unemployment rate, as when you stop looking for work or getting benefits your counted as employed. If you look at the workforce participation rate, historically it's near lows, so something doesn't add up.
Not a popular thing to say I'm sure but just looking at things objectively.