Ed,..Re:.**OT**
Re:.what are all these new jobs being created beyond the tech sector, where are the rise of wages with unions?
I don't have the figures handy, but technology is making up a larger and larger portion of GDP and manufacturing is making up a shrinking percentage. From all I've read, there are jobs aplenty for anyone who is willing to re-train to current tech requirements.
Also, currently layoffs are down.
US April layoffs down 21 pct to 54,399--Challenger
biz.yahoo.com
Re:.where are the rise of wages with unions?.. Are you trying to tell me that the 75 to 80k auto workers currently make is insufficient? Is there some reason that union wages should be rising when some of that expensive work can be out-sourced for lower costs? What about deploying capital for robots and not worry about union demands?
AG did say in his speech this morning - Workers no longer believe that large gains in nominal wages are needed to reap respectable increases in real wages. Moreover, incongruously, at the same time that labor markets tightened, workers' fear of job skill obsolescence rose, apparently, as a consequence of the rapid changes in technology that have induced the accelerated churning in the nations' capital stock with which our workforce must interact day by day. Job security has seemingly become more relevant than wage gains as a result. The return of experienced workers for further schooling is remarkable and attests to the surprising depth of worker job insecurity in the face of ever tightening labor markets.
bog.frb.fed.us
He also noted that Increased labor productivity growth has directly lowered the growth of unit labor costs
And that reduction in costs, in combination with declining import prices, has also apparently engendered lower price inflation and inflation expectations that, in turn, have curbed both nominal wage growth and unit interest costs.
I'm not an expert but attribute the gains to technological innovations and evolution of job requirements and skills.
THanks for your remarks,
Lee
BTW - GO DELL! <g> |
