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Thread: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    Employment compensation has not fallen and there is no downward trend.
    While it is certainly true that real labor market compensation is not trending downward, it has not regained previous highs when factoring for inflation (i use GDP deflator).



    In terms of total economic output, wages have been on a the downward trend for some time now.

    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Kushinator View Post
    While it is certainly true that real labor market compensation is not trending downward, it has not regained previous highs when factoring for inflation (i use GDP deflator).



    In terms of total economic output, wages have been on a the downward trend for some time now.

    Yes. Its already been establish that wages have not kept up with inflation. The general premise is that corporations are more profitable because employee compensation has been lowered, which isn't what happened.

    If you want to discuss the value of employee compensation, that's another thing entirely. Wages are worth less not because employees are make less, not because employees are not making enough, but because the real value of wages has fallen. This cannot be fixed by increasing wages, but curing inflation, which most people believe does not exist.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    Now I see where the problem lies: its your comprehension. I don't know what you think unit labour cost are but they're not wages. Not just wages anyway. Its employee compensation divided by per output. It involves direct cost (wages, capital, inventory) and indirect cost (Utilities, maintenance, etc) Employee compensation (wages and salary accruals) are a completely different metric.

    What I said was employee compensation has not fallen. Which they have not. I also said that time has stood still for unit labour cost, which basically means they are stagnant. Take the time to re-read what I said, as nothing as been altered or changed.

    So thanks. We can conclude that you've wasted a great deal of time.
    Productivity has increased, what caused the declines 2009 to 2012 was the decline in wages....IN REAL TERMS. Both, the labor costs and the real decline in salaries bear this out.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    And what occupation wages does this cover? Do you have a primary source for this data?
    Wage deflation charts of the day | Felix Salmon



    Oh well, too bad for your "point" about no wage declines......that is unless you ignore inflation.....and time stands still.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    Yes. Its already been establish that wages have not kept up with inflation. The general premise is that corporations are more profitable because employee compensation has been lowered, which isn't what happened.

    If you want to discuss the value of employee compensation, that's another thing entirely. Wages are worth less not because employees are make less, not because employees are not making enough, but because the real value of wages has fallen. This cannot be fixed by increasing wages, but curing inflation, which most people believe does not exist.
    Oh hell, inflation has been low for some time, wages (especially for the lower quintiles as I showed) have not increased enough to even keep pace with inflation....SO OF COURSE THEY ARE IN REAL TERMS LOWER......and in the meantime productivity has increased and corporations are seeing record profits while CEO compensation increases.

    FFS, stop being such a corporate lackey, quit arguing AGAINST your own interests.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    And just to add some more fuel to the fire, wages for the top quintiles are not representative of total income since a large percentage is made up of investment income....

    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    Productivity has increased, what caused the declines 2009 to 2012 was the decline in wages....IN REAL TERMS. Both, the labor costs and the real decline in salaries bear this out.
    That's nice and all, but that really has nothing to do with the wages employers pay their employees. Your issue is with the value of the wages, not the nominal amount.

    Take it up with the BLS or the Fed.

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by Gimmesometruth View Post
    Oh hell, inflation has been low for some time, wages (especially for the lower quintiles as I showed) have not increased enough to even keep pace with inflation....SO OF COURSE THEY ARE IN REAL TERMS LOWER......and in the meantime productivity has increased and corporations are seeing record profits while CEO compensation increases.
    Inflation is low if you believe the CPI. There are many metrics which contradicts it. My personal favorite is the Big Mac Index.


    Inflation can also be measured by the cost of making dollars. But there is plenty of inflation if you know where to look. If I'm right, inflation is close to where it was during the 70's of 7% - 10% annualised. Regardless, real wages really has zero to do with the amount employees are paid. If the minimum wage was $3 or $4 dollars more, employees would be making the same type of wages they were making during the 60's or 70's in real terms. The problem is not the lack of wages (obviously), but the value these wages are worth.

    FFS, stop being such a corporate lackey, quit arguing AGAINST your own interests.
    I don't have a particular interest group. All I really care about is making money. Why is this wrong?

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    Yes. Its already been establish that wages have not kept up with inflation.
    No, wages have not kept up with productivity! Firms are more profitable because the reliance on capital has taken precedence. Hence, the balance between the return on capital/labor has been shifted.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Adds 195,000 Jobs; Unemployment Remains 7.6%

    Quote Originally Posted by AmazonTania View Post
    Inflation is low if you believe the CPI. There are many metrics which contradicts it. My personal favorite is the Big Mac Index.
    The big mac index is good for determining what cities have high costs of living. Far too myopic to be a quality inflation indicator (the implicit price deflator is my default metric).
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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