Tuesday, June 10, 2014

Great Article

Came across this article on economic inequality via the common dreams website.  The author really lays a lot out there as to the reality of the current wealth inequity in the U. S..

 Mr. Van Buren answers some of the unsympathetic questions one hears about the unemployed and working poor.  This should be required reading for some of those commenters who heap such scorn on those who are still struggling economically.

The latest jobs reports are mixed to be sure. According to The Guardian article, over 200,000 jobs were added in May, a good sign.  But unemployment is still "officially" at 6.3%.  The number of full-time jobs is lower than pre-recession, and the labor participation rate is only 62.8%.  Is is possible, as some have been suggesting, that many long-term unemployed have given up looking for work and are no longer counted, thus the actual unemployment rate would be higher?

Nevertheless, there are pin-prick lights of hope.  Seattle voted to increase their minimum wage.  As our first article referenced suggests, this might really be a good thing for the local economy.  Let's hope so.  I've long thought that real economic recovery would start with us 99%ers having more disposable income to spread around.  Many studies have revealed that in such cases, the spending really does go to consumer goods, such as food and clothing, and other expenses such as housing and utility costs. Folks enabled to better meet the basic needs of their families - THAT sounds like an economic stimulus to me!

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