ecently, news reporters have been sounding almost giddy, saying that unemployment is dropping, housing prices are rising and the stock market is growing to new highs. But, these reports do not ring true with what people see around them. When you look beyond the sunny headlines, the sad reality is mirage recovery. The economy is limping […]
Seymur Slavin: The startling fact is that low wage jobs now constitute 58% of all job growth. The jobs with the fastest growth were retail sales at a median wage of $10.97 per hour. At this salary, workers would be eligible for food stamps.
Robert Reich: Friday’s jobs report shows an economy that’s still moving in the right direction but way too slowly, which is why Washington’s continuing obsession with the federal budget deficit is insane. Jobs and growth must come first.
Nia-Malika Hendewrson and Rachel Weiner: Two days after Romney reignited his campaign with a winning debate performance, Republicans were struggling once again to find their footing after a positive September jobs report muted the campaign’s main talking point.
Robert Reich: RBoth Obama and Romney assume the recovery will continue, even at a slow pace, and that we’ll be back to normal at some point. But I’m not at all sure. “Normal” is what got us into this mess in the first place.
Steve Hochstadt: Romney thinks that the people who got the jobs he says he created are those irresponsible parasites who are hopelessly dependent on government. That is ironic.
Robert Reich: The biggest election news this week won’t be who wins the presidential debate Wednesday night. It will be how many new jobs were created in September, announced Friday morning by the Bureau of Labor Statistics.
Robert Reich: @idening inequality is the underlying culprit. As long as almost all the gains from economic growth continue to go to the top, the vast middle class doesn’t have the purchasing power to boost the economy on its own.
Shamus Cooke: Portland is simply following a national trend on a city, state, and federal level where Democrats and Republicans have agreed that taxing the wealthy and corporations must not be an option in addressing the social crisis that resulted from the Great Recession, regardless of the vast inequality of wealth that has erupted over the last 30 years.
Robert Reich: January’s increase in hiring is good news, but it masks a bigger and more disturbing story – the continuing downward mobility of the American middle class.
Robert Reich: When people ask me what Congress is likely to do I always say the same thing: The odds are in favor of nothing.
Robert Reich: Political elites are worried about thunder on the right and the left, but they show scant understanding of what these growing anti-establishment forces signify. Meanwhile, the nation drifts.
Sabrina Bornstein: Recycling may be all the rage these days, but here in L.A. and across the country vast amounts of recyclable goods end up in landfills every year.