I have some potentially alarming news.
IT’S POSSIBLE THAT YOU ARE NOT IN THE MIDDLE CLASS
Fortune claims that 90% of offices are planning parties in 2014. Get out those reindeer headbands!
The U.S. unemployment rate is currently at 5.8 percent—the lowest since the financial crisis of 2008. The U.S. economy has grown at a rate of 3 percent for the past four to five quarters encouraging analysts to say that our country “is finally casting aside the shackles imposed by the financial crisis.” Corporate profits are at a record high. And yet, household incomes remain volatile—especially for low and middle-income households.
Mommies, especially low-income ones, take a hit in the labor market, whereas daddies, especially already privileged ones, reap rewards. You must be as tired of reading this nonsense as I am of writing about it.
Ms. Correll asked participants how much they would pay job applicants if they were employers. Mothers were offered on average $11,000 less than childless women and $13,000 less than fathers. In her research, Ms. Correll found that employers rate fathers as the most desirable employees, followed by childless women, childless men and finally mothers.
Low-income women lost 6 percent in wages per child, two percentage points more than the average. For men, the largest bonuses went to white and Latino men who were highly educated and in professional jobs. The smallest pay bumps went to unmarried African-American men who had less education and had manual labor jobs. “The daddy bonus increases the earnings of men already privileged in the labor market,” Ms. Budig wrote.
GAH SEXISM UNEQUAL OPPORTUNITY OUR CLASSLESS SOCIETY okay I’m out. Only good news now:
+ New Orleans’s economy has seriously bounced back post-Katrina; it reversed a pre-hurricane decline and is now outperforming the country in general.
n+1 has published one of their Editorials with that smooth, authoritative voice that gets me every time. It Tells Us About The World like a maestro conducting an orchestra of discriminating tab-openers, who nod in time with the paragraph breaks. That all-knowingness, so calm on the surface but you know his eye is twitching from all the drafts and redrafts. Copy of copy of copy of August 2014.
Remember a time before “Seinfeld”? Of course you don’t. The show that changed television, according to Matt Zoller Seitz, has rewired our brains so that we cannot reach back to a more innocent time when words like “sponge-worthy” and “anti-dentite” meant something else or perhaps nothing at all. It wasn’t 9/11 that turned all Americans into New Yorkers; it was “Seinfeld.” And not surprisingly, a phenomenon that total had — even continues to have, lo these many years later — its own economy, as helpfully detailed today on Vulture.
Some of the fun facts:
$3.1 billion: The amount the show has generated since entering syndication in 1995.
$400 million: What Larry David and Jerry Seinfeld can each make just from the most recent syndication cycle.
Festivus Poles: The Wagner Companies, a Milwaukee railing company, has owned exclusive rights to make Festivus poles since 2005. It sells a steady 800 per year, at up to $39 apiece.
The Bureau of Economic Analysis changed its calculation of the country’s gross domestic product in 2013, creating a new category that counts long-running shows like Seinfeld as investments (rather than expenses). The tweak adds $70 billion to the GDP of the United States.