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  1. Frank June 15, 2009 @ 10:28 pm

    Downhill spiral is right. Kind of like being stuck on a train after the conductor jumps off. I know it’s important to stay up with the news and the “experts”, but too often these people either don’t see the big picture due to their specific field of expertise, or they might know something but aren’t allowed to “scare the public”. I’m not a pessimist, I’m trying to be a realist. Especially in these crazy times.

We need employment checks too

U.S. Economy Comments (1)

Employed or unemployed, it’s probably safe to say that we’re all having a tough time financially. People are picking up more and more jobs, if they’re lucky, because one just isn’t enough anymore.

According to USA Today, people who are currently employed are still doing worse than any time prior. Oh, except during the Great Depression. (At least it’s not that bad…yet!) Employed workers who were spending 40 hours a week on the job are now spending an average of 33.1 hours a week, and forget about overtime.

Sure, a decrease in hours would be okay if there was in increase in pay, but we all know that’s not happening. In fact, there’s been drastic wage rate cuts throughout the country, specifically a 6.2 percent annual wage rate cut in the first quarter by business. If you’re lucky and have a government job, the average wage increased by 6.1 percent.

Baby boomers are getting hit the worst. They’re the ones getting fired first, and it’s coming at a tough time for them (right around retirement).

While businesses attempt to stay in working order by enacting pay cuts, there are still some, particularly the baby boomers, who are getting laid off.

This is causing a drastic increase in the amount of people looking for part-time jobs. According to USA Today, “a record 9 million people want to work full time but can find only part-time work.”

Then this, of course, is having an effect on the availability of part-time jobs. So far, this situation appears to be never-ending downhill spiral with no answer in sight.

andrea @ June 15, 2009

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