SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: combjelly who wrote (275649)2/20/2006 9:59:37 AM
From: Elroy  Read Replies (2) of 1574574
 
"The key question here is how many of those 37 million are the 3rd and 4th generation of poor people in the family."

What do you think, Elroy?

I really have no idea, but it's a key question for me about whether or not America is failing that section of its population.

The typical wage for workers is $25 an hour plus benefits. The CEO thinks that should be $10 an hour with no benefits. Depending on the part of the country, that would take the workers out of the middle class and make them poor. And there likely aren't other jobs around that would give them more than $10 an hour with their skill sets.

I hear you, and its painful for them, but I think labor is going to experience deflation for our entire lifetime. You can't avoid that with 2.2 billion Chinese and Indians entering the world labor market.

Where I live about 30% of the workforce makes ~$300 per month, with shared accomdation and sometimes meals, on a 6 day workweek, working 10 hours per day. That's ~26 work days per month = 260 working hours per month = ~$1.25 per hour!

For these people, $10 per hour sounds pretty damn good. $25 per hour plus benefits plus overtime (I assume) sounds like a fantasy. Well, it was a fantasy - those jobs are going to go.

I don't know what the unemployed unskilled uneducated person who used to make $25 per hour is supposed to do about it, but wage deflation for labor is not going away. Hopefully his children will see that highly paid labor jobs are going away and they will get themselves into college.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News