Travis Waldron of Think Progress reports on a on a disturbing trend: college graduates working low wage jobs. The statistics are a bit confusing, but the bottom line is that even college grads are now having trouble finding jobs that pay well. Waldron explains that most of the new jobs generated in the post-recession economy have been low wage, which means that will be all that is available for some college grads. He also notes that these better educated workers will push less qualified candidates out of the job market. This trend needs to be watched – and worried over.
More bad news for working people. Travis Waldron of Think Progress reports that corporate earnings have increased 20x more than workers’ disposable incomes since 2008. Waldron present another sickening statistic: “From 2009 to 2011, 88% of national income growth went to corporate profits while just one percent went to workers’ wages, and hourly earnings for workers actually fell over that time.”
As Waldron asks, if the job creators (also known as the “makers”) are doing so well, where are the jobs? We might add the questions: Where are the raises? Where are the healthcare increases? Where are the 401K matches? Why doesn’t Marissa Mayer provide her employees the same on-the-job day care she gives herself? It’s pure, simple greed.
Conservatives condemn government action to support workers as a matter of “picking winners and losers.” Given Waldron’s report, workers clearly have been the losers over the last five years. When will they get to win?