Listen to my radio show of August 30, 2019 and discussion this labor day on independent surveys showing wages are not rising for the vast majority of US labor force, and jobs creation is half of 1.1m and mostly 2nd and 3rd jobs.
TO LISTEN GO TO:
https://www.alternativevisions.podbean.com
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SHOW ANNOUNCEMENT:
What’s the condition of Labor this Labor Day 2019? The official Trump estimate of 3.1% increase in wages this past year is really between -0.8% and 1.1% according to independent bank and other research companies. 3.1% is unadjusted for inflation, is an ‘average’ skewed by big gains for professionals and managers, and refers to only full time workers—leaving out the 60m plus ‘contingent’ part time/temp/gig workers. Independent surveys by Bankrate, Payscale, McKinsey Research, and EPI paint a different picture: 60% of labor force say they got no pay increase at all last year. 45% say they are working 2nd and 3rd jobs to make ends meet. Rasmus debunks with data the Neoliberal lie that business-investor tax cuts create jobs. Trump’s tax cut correlated with big investment collapse. 1.1 million jobs not due to tax cuts last year. US Labor Dept. just announces adjustment of 500,000 fewer jobs last year than previously reported. Monthly job creation no different 2018 than 2017 after tax cuts. Rasmus describes the continuing attack on unions, especially public sector. (Check out Dr. Rasmus’ blog for article on ‘Myths of Wages and Jobs Under Trump’ at jackrasmus.com). Show initially updates Argentina debt crisis, Trump’s fictional call with China, and NY Fed former district President, Bill Dudley’s, push back on Trump’s attack on the Fed.
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