More jobs, yes, but wage growth holds up recovery

[kiwiman127]

Kinda hard not having people on food stamps when their income is flat.
Kinda hard getting the economy rolling in an economy that is driven by consumer spending when the consumer's wages are flat.
The bad news is if this trend continues, our economy will take longer to recover.
The bad news is that unemployment will continue drag the economy if flat wages continue.
The bad news is that people won't be dropping off of SNAP if flat wages continue.
Yet profits are good, the financial success just hasn't trickled down, it's staying at the top.
The result, is an economy that everyone bitches about.

More jobs, yes, but wage growth holds up recovery
More jobs, yes, but wage growth holds up recovery - NBC News.com

 

[william the wie]

The answer is found in Matthew's "Robotics" thread. US automation is increasing so fast that it is threatening employment even in China according to a McKinsey report that you can buy cheap on your free nook app. Fast food jobs could vanish by the end of the decade.

 

[expat_panama]

...automation is increasing so fast that it is threatening employment...

Huh, didn't know anyone still believed that line. Most people know that we want the economy to innovate and expand which is why we don't the nation ruined by old farts unwilling to change.

 

[william the wie]

...automation is increasing so fast that it is threatening employment...

Huh, didn't know anyone still believed that line. Most people know that we want the economy to innovate and expand which is why we don't the nation ruined by old farts unwilling to change.

I agree with the second part but given that more than 90% of agricultural, manufacturing and extractive employment share has been automated out of existence over the past century I find the first part absurd.