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Strategies & Market Trends : New US Economy Policy

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To: Arthur Tang who wrote (68)	10/17/1997 3:43:00 PM
From: Arthur Tang	of 435

The new economy and labor market. Common knowledge of unemployment number has been deceiving for a decade. Unemployment compensation has a limited time duration, beyond that time, you are no longer considered unemployed. You are no longer counted in as part of the unemployed. Today the unemployed is counted as less than 5% of the labor force. Not so. Many abled bodies has since lost their unemployment benefits and therefore not counted as unemployed, but still unemployed. None of the people working part time are counted at all. Employed or not. Part timers can work at more than one job. No shortage of man power that we know of. Wage increase is not due to shortages of man power because labor rate depends on productivity. No productivity, you get minimum wage. Manual labor rates depends on jobs and productivity output. Piece work still exists in the garment districts. When will economist recognize the labor structure and wage relationship have changed? Today, labor union no longer can demand higher wages for the same productivity. Automation took over the wage rates for productivity output by the pieces. Machines are replacing more and more manual labor. Top down economists better look up to microeconomists and see how wages are controlled. No inflation, no labor shortages, only better economy through automation.

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