U.S paychecks shrinking

Discussion in 'Economy' started by Nova78, Aug 10, 2012.

  1. Nova78
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    Nova78 Silver Member

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    Shrinking American Paychecks May Doom Obama
    Unemployment shrinks, but so do paychecks | Florida politics blog: The Buzz | Tampa Bay Times

    Shrinking American Paychecks May Doom Obama’s Re-election Effort.
    Floridians are earning less and taking more low-wage jobs than they were a year ago, with pay rates dropping more than almost anywhere in the country.

    Workers saw their pretax paychecks shrink to an average of $847 per week, down $24 or 2.8 percent compared with 2011, according to a U.S. Department of Labor report released Thursday.

    Florida trails only Minnesota, Nevada and Connecticut in wage decline, according to the Labor Department.

    What would you do if your company cut your pay tomorrow by 5 percent? Ten percent?


    At companies like Agilent Technologies, workers don't have to wonder. The firm has asked every single one of its workers — from the CEO right down to the guy on the factory floor — to take a 10 percent cut in pay. As management sees it, a 10 percent paycut beats the 100 percent paycut of being laid off.
     
  2. sparky
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    sparky VIP Member

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    yup,
    the majority of voters will remember what happend last month, maybe even last year

    yet the real history, relevant to the monetary punch behind a paycheck, that might be seen over a period of say, the last 40 yrs , will be the penchant of the minority

    ~S~
     
  3. Skull Pilot
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    Skull Pilot Platinum Member

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  4. Nova78
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    Nova78 Silver Member

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    When obamacare kicks in expect to see many more low paying, part time , no benefit jobs,with multiple family generations living under one roof.....
     
  5. expat_panama
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    expat_panama Silver Member

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    There are hard numbers that seem to back up your beliefs, the paycheck numbers from the BLS (same people that do the CPI) say while the past month's pay is slightly up, it's below last years and that of forty years ago:
    Avg. Hrly Earnings: Productions Workers - Total private, ($ Per Hrs., SA) CPI adusted
    $19.76 This month
    $19.75 Last month
    $19.79 Last year
    $20.53 40 years ago
    The thing is that this doesn't mean that the government's picking on us, it doesn't even mean we're worse off. Most people enjoy the fact that there's more to income than paychecks, and the Fed's Flow of Funds Report shows today's average real household wealth being almost twice what it was forty years ago.
     
  6. Zander
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    Zander Platinum Member

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    But they'll be covered by Obamacare when they get sick ...:lol:
     
  7. hortysir
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    hortysir In Memorial of 47

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  8. hortysir
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    hortysir In Memorial of 47

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    Your links are from April and July

    The one I posted is from yesterday
     
  9. hjmick
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    hjmick Gold Member

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  10. IGetItAlready
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    IGetItAlready BANNED

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    I've had the good fortune to not have to look for a job in nearly a decade.
    However, with my company announcing their closing a while back I've been looking and have been utterly blown away to find how much the wages being offered have decreased.
    I used to hire people to drive fork lifts for $15/hour off the streets. Those jobs are now paying $9-11/hour. My welders used to get $18/hr first day on the job. Now weld jobs are posted all over for under $15.

    I had an employer I've interviewed with a couple of times email me yesterday to let me know they are preparing an offer they intend to present to me next week. When asked what I expected to make I told them a couple grand less than I am currently making.
    FINGERS CROSSED!!! But I'm already expecting a significant salary decrease.
     

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