"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Saturday, May 16, 2015

Household Income Down 27.8%, Over 7.2 Million Jobs Lost

A Permanent Great Depression

  • We have technology and outsourcing permanently abolishing jobs by the millions.  
  • As an added "bonus" the liar political hacks are eagerly importing millions of legal and illegal aliens into the U.S. to compete directly with American citizens for a limited number of jobs.

(CNS News) - The number of jobs in manufacturing has declined by 7,231,000--or 37 percent--since employment in manufacturing peaked in the United States in 1979, according to data published by the Bureau of Labor Statistics.
The real median household income of Americans who have completed high school--but have not attained a higher degree--also peaked in the 1970s and has declined since then.
In fact, according to the Census Bureau, the real median household income of an American householder who has completed four years of high school peaked in 1973 at $56,395 in constant 2013 dollars. 
By 2013, it was down to $40,701. That is a drop of $15,694--or 27.8 percent. (The Census Bureau's Table H-14 publishes the annual median household income from 1960 through 1990 of householders who have "completed" four years of high school. Table H-13 publishes the annual median household income of householders who have 'graduated" from high school or its equivalency from 1991 through 2013.)

According to the BLS’s seasonally adjusted employment numbers, employment in the U.S. manufacturing sector hit a peak of 19,553,000 in June 1979. In April 2015, there were only 12,322,000 employed in the manufacturing sector. That is a decline of 7,231,000—or 37 percent.
The decline has even been greater as a share of the civilian noninstitutional population, which includes all U.S. residents 16 and older who are not on active duty in the military or in an institution such as a prison or nursing home. (This is the population number that forms the foundation of the BLS’s employment numbers.)
In April 1973, the year median household income peaked for householders who have completed high school but not earned a higher degree, there were 146,459,000 in the civilian noninstitutional population and employment in manufacturing was 18,359,000—or 12.5 percent of the civilian noninstitutional population.
In April 2015, there were 250,266,000 in the civilian noninstitutional population and employment in manufacturing was 12,272,000—or 4.9 percent of the civilian population.
In 1973, manufacturing employment as a share of the civilian noninstutional population was 2.5 times what it is today.

Read More . . . .

Welcome to Eternal Poverty
The poverty of the 1930s Great Depression is coming back.  The moronic politicians and TV talking heads blunder forward thinking the future will look like the past, and they talk about new jobs and economic recovery.
Those of us still able to think for ourselves see the writing on the wall.  Technology, robotics, the Internet and outsourcing are permanently abolishing jobs by the millions.  At some point the consumer economy will collapse as people with jobs to buy products simply vanish.

The successful political party of the future will run on a "Jobs for Humans" platform.  It will be a  return of the Luddites as millions of people permanently made unemployable by machines demand help just to live.


Anonymous said...

I remember years ago reading that (by now) we'd all be working a 20 hour work week (and of course, still drawing a high salary). WHAT the hell happened? Don't blame the machines... they SHOULD be making life easier for us... So, who do we blame for not sharing the "spoils" in this war?

Gary said...

We are getting that 20 hour work week at Burger King wages.

Technology is abolishing jobs from the bank teller to the video store to the assembly line worker.

Sure life becomes "easier" but if you do not have a paycheck what is the point?