I am Jack’s total lack of surprise
I’m expecting salary drops among higher-wage positions, some benefits cuts (especially regarding health insurance), and cut hours to follow as well. Also increased federal workplace violations, since they won’t be prosecuted – that is, at a higher rate than is already happening.
strikes me that i saw this today too…
Federal Reserve Chair Jerome H. Powell said Tuesday that the U.S. economy appears to be in the midst of a “remarkably positive” period that is unprecedented in modern history.
The Fed is predicting that unemployment will remain below 4 percent through 2020 and that inflation will stay low — around 2 percent — during that time. This has never happened in modern U.S. history. The last time unemployment was that low for several years, in the 1960s, it triggered high inflation, but the central bank and many outside forecasters don’t think that will occur this time.
“This historically rare pairing of steady, low inflation and very low unemployment is a testament to the fact we remain in extraordinary times,” Powell said in a speech at the annual meeting of the National Association for Business Economics (NABE) in Boston. “I was asked at last week’s news conference whether these forecasts are too good to be true — a reasonable question.”
Irregular reminder that an underreported factor in the jobless numbers is that they only reflect *active* job seekers. People who are long term unemployed or underemployed aren’t counted for the official numbers.
Underemployed being the key factor nowadays, given the gig/contractor economy and chronic, mass understaffing/part-timing within large companies. The job market is currently gamed to look robust and does not reflect reality (I think maybe 10% of my dash currently has full-time/salaried employment).
I don’t 
Amazon’s hourly workers lose monthly bonuses and stock awards as minimum wage increases
Rush's tumblr archive 