Weak Pay Growth Puzzles Fed Chief, Just Like Everyone Else

[Randolph Kinney]

American citizens are afraid to apply for food stamps and healthcare benefits out of fear that a friend or family member will get deported. "Leveraging the roll-out and intensity of Secure Communities under the Obama administration, we find that citizen Hispanic Americans are indeed sensitive to such enforcement although they themselves are not at risk of removal–a spillover effect," Marcella Alsan and Crystal Yang write in a National Bureau of Economic Research working paper. That has implications for the health and well-being of Hispanics living in the U.S.

 

[Randolph Kinney]

A record number of folks age 85 and older are working

Overall, 255,000 Americans 85 years old or older were working over the past 12 months. That's 4.4 percent of Americans that age, up from 2.6 percent in 2006, before the recession. It’s the highest number on record.

They're doing all sorts of jobs — crossing guards, farmers and ranchers, even truckers, as my colleague Heather Long revealed in a front-page story last week. Indeed, there are between 1,000 and 3,000 U.S. truckers age 85 or older, based on 2016 Census Bureau figures. Their ranks have roughly doubled since the Great Recession.

America’s aging workforce has defined the post-Great Recession labor market. Baby boomers and their parents are working longer as life expectancies grow, retirement plans shrink, education levels rise and work becomes less physically demanding. Labor Department figures show that at every year of age above 55, U.S. residents are working or looking for work at the highest rates on record.

At the lower end of the age curve, the opposite holds true. Workers age 30 and younger are staying on the sidelines at rates not seen since the 1960s and ’70s, when women weren’t yet entering the workforce at the level they are today.

https://www.washingtonpost.com/news...res-what-theyre-doing/?utm_term=.d31a1e377aa6

Says a lot about the younger generation. A growing number of young people have been sidelined from the workforce for whatever reason (be it because of drugs, illness or simply because they don't want to work), has something to do with wages or jobs that they will do.

 

[Gobears81]

A record number of folks age 85 and older are working

Overall, 255,000 Americans 85 years old or older were working over the past 12 months. That's 4.4 percent of Americans that age, up from 2.6 percent in 2006, before the recession. It’s the highest number on record.

They're doing all sorts of jobs — crossing guards, farmers and ranchers, even truckers, as my colleague Heather Long revealed in a front-page story last week. Indeed, there are between 1,000 and 3,000 U.S. truckers age 85 or older, based on 2016 Census Bureau figures. Their ranks have roughly doubled since the Great Recession.

America’s aging workforce has defined the post-Great Recession labor market. Baby boomers and their parents are working longer as life expectancies grow, retirement plans shrink, education levels rise and work becomes less physically demanding. Labor Department figures show that at every year of age above 55, U.S. residents are working or looking for work at the highest rates on record.

At the lower end of the age curve, the opposite holds true. Workers age 30 and younger are staying on the sidelines at rates not seen since the 1960s and ’70s, when women weren’t yet entering the workforce at the level they are today.

https://www.washingtonpost.com/news...res-what-theyre-doing/?utm_term=.d31a1e377aa6

Says a lot about the younger generation. A growing number of young people have been sidelined from the workforce for whatever reason (be it because of drugs, illness or simply because they don't want to work), has something to do with wages or jobs that they will do.

I talked to a guy last year who is an appraiser at his dad's firm. His dad is (or was) still at it at the young age of 94! That's a record I think

 

[Randolph Kinney]

I talked to a guy last year who is an appraiser at his dad's firm. His dad is (or was) still at it at the young age of 94! That's a record I think

Sounds great. Does he work the residential side of the business?

 

[Gobears81]

Sounds great. Does he work the residential side of the business?

Him and his son are both MAIs, so I'm guessing that they both do at least some commercial, but not really sure. I only talked to the son once and it was mostly about a possible assignment in this area, so I don't know either of them well

 

[Restrain]

I see people over 70 downhere doing all sorts of jobs, from clerking at the grocery store to tellers at the bank. Supplement the income, get out of the house, meet people.

 

[George Hatch]

I had a father-son team who used to come to my CE courses - the dad was 96 at the time and was mostly performing reviews.

 

[Big ole Boy]

"Fair value" ...... is part of a dead language ... a forgotten notion (a subjugated notion) as it relates to the human beast ...

centralized power has offloaded the consumption of human beast as it relates to pricing supply and demand ....

pricing "discovery" implies a decentralized phenomena to measure human beast activity on the ground...

contemporary "pricing" is centralized through a Machiavellian Keynesian hybrid system which decrees market performance and covers up human suffering. Western and occidental appetite hegemony has morphed ...

 

[djd09]

Nearly 40 percent of workers have a side job

"Nearly 40 percent of workers have a second job, including more than half of millennials.

The median side job makes $200 a month and the average is $686, according to a new Bankrate.com report.

The most popular jobs are home repair, landscaping, online sales, crafts and child care.

Most of those who have an extra job say they do it so they have more disposable income. Other says they need the extra cash to pay regular living expenses.

More men than women have a side job, and men earn $989 a month from their extra job, nearly three times what women earn."

http://www.dispatch.com/news/20180625/nearly-40-percent-of-workers-have-side-job

Better get a third or fourth to pay the u.s. debts.

 

[Randolph Kinney]

Better get a third or fourth to pay the u.s. debts.

And inflation: