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The incredible shrinking middle class.
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<blockquote data-quote="av8torntn" data-source="post: 289897" data-attributes="member: 8259"><p>Here is an article for you doom and gloom people who are afraid that all good jobs are leaving the US></p><p> </p><p>From the article.</p><p> </p><p>Sectors affected by the housing and credit crisis suffered job losses. The construction industry continued to shed jobs as it completed its second year of declining activity. Construction lost 49,000 jobs in December and a total of 236,000 jobs since the housing decline began in September 2006. Jobs focused on credit markets declined by 7,000 as banks struggle to deal with bad loans and few lending options. The writers' strike contributed to the loss of 15,000 jobs in the motion picture and broadcasting industry.</p><p>Despite these losses, other important sectors of the economy continued to add jobs last month. Mining added 5,000 jobs; leisure and hospitality added 22,000 jobs; professional and business services added 43,000 jobs (33,000 of them in professional services like accounting and architecture); and education and health added 44,000 jobs. These latter two sectors pay above average wages; they are not "burger-flipping" jobs.</p><p> </p><p> </p><p>And their conclusion.</p><p> </p><p> </p><p>Policymakers should be careful not to overreact to this month's report. While it is not encouraging, it only provides a one-month snapshot of the economy. An overreaction could result in a more prolonged period of sluggishness or a downturn. Part of the economic slowdown is due to earlier decisions that lowered interest rates too low, which led to real estate speculation and the housing bubble. Policymakers should not repeat this mistake. Washington should focus only on policies, such as lower taxes and fewer regulations on business investment, that will enable long-term economic growth.</p><p> </p><p><a href="http://www.heritage.org/Research/Economy/wm1766.cfm" target="_blank">http://www.heritage.org/Research/Economy/wm1766.cfm</a></p><p> </p><p> </p><p>They do make some interesting points. </p><p> </p><p>Here is their take on manufacturing jobs.</p><p> </p><p><a href="http://www.heritage.org/Research/Economy/wm1709.cfm" target="_blank">http://www.heritage.org/Research/Economy/wm1709.cfm</a></p><p> </p><p>A key point from this article that i have not seen anyone on here make and if I missed it my apologies.</p><p> </p><p>The explanation for these shifts is that productivity has been exploding in the United States and throughout the world. Technological change and innovation are making it possible to produce more output with less labor. In the U.S., that labor is shifting to jobs in the services sector and other parts of the economy.</p></blockquote><p></p>
[QUOTE="av8torntn, post: 289897, member: 8259"] Here is an article for you doom and gloom people who are afraid that all good jobs are leaving the US> From the article. Sectors affected by the housing and credit crisis suffered job losses. The construction industry continued to shed jobs as it completed its second year of declining activity. Construction lost 49,000 jobs in December and a total of 236,000 jobs since the housing decline began in September 2006. Jobs focused on credit markets declined by 7,000 as banks struggle to deal with bad loans and few lending options. The writers' strike contributed to the loss of 15,000 jobs in the motion picture and broadcasting industry. Despite these losses, other important sectors of the economy continued to add jobs last month. Mining added 5,000 jobs; leisure and hospitality added 22,000 jobs; professional and business services added 43,000 jobs (33,000 of them in professional services like accounting and architecture); and education and health added 44,000 jobs. These latter two sectors pay above average wages; they are not "burger-flipping" jobs. And their conclusion. Policymakers should be careful not to overreact to this month's report. While it is not encouraging, it only provides a one-month snapshot of the economy. An overreaction could result in a more prolonged period of sluggishness or a downturn. Part of the economic slowdown is due to earlier decisions that lowered interest rates too low, which led to real estate speculation and the housing bubble. Policymakers should not repeat this mistake. Washington should focus only on policies, such as lower taxes and fewer regulations on business investment, that will enable long-term economic growth. [URL]http://www.heritage.org/Research/Economy/wm1766.cfm[/URL] They do make some interesting points. Here is their take on manufacturing jobs. [URL]http://www.heritage.org/Research/Economy/wm1709.cfm[/URL] A key point from this article that i have not seen anyone on here make and if I missed it my apologies. The explanation for these shifts is that productivity has been exploding in the United States and throughout the world. Technological change and innovation are making it possible to produce more output with less labor. In the U.S., that labor is shifting to jobs in the services sector and other parts of the economy. [/QUOTE]
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