According to an inflation calculator, my $16 twenty years ago has the buying power of $25.70 today, a difference that my eight-year-old self would have viewed with the same reverence, and my current self would have probably turned into laundry quarters.
I think the title of this Guardian article speaks for itself: Homeless and working for Amazon: the trap of the seasonal job cycle.
To be fair, Amazon is very upfront that they rely on a seasonal workforce, mostly because: Christmas.
I’ve decided that we don’t need to be worried because it just feels better, not to be worried. Also, there is nothing we can do about it (besides yell at our elected officials to get it together). Just stay on our toes. Be agile. Retain flexibility.
A weak labor market is making it more difficult for teens to find jobs while low-wage work like retail and fast food is increasingly being taken by older Americans who are unable to find other work. I got my first job at the mall when I was 16 with no work experience besides some volunteer work here and there, and it’s unlikely that would happen today since employers prefer applicants with experience. Some economists also believe there may be a cultural shift occurring—teens just aren’t expected to work. Maybe, but it’s also true that some people who want those jobs just aren’t finding it, no matter how many jobs they apply to.
The value of infrastructure to a local economy can be found in the aftermath of last week’s bridge collapse in Burlington, Wash., where businesses are now struggling to find customers. Cars still go through the town, but the traffic is now so thick due to detours that few people want to stop.
One big reason the deficit is falling faster than expected is a surprising—and surprisingly durable—drop in health care spending, the source of most of America’s long-term fiscal problems. The seemingly inexorable rise in health care costs has been near the center of every big political and economic debate since Obama was elected. But the fact that it’s finally slowing down was deemed worthy only of page B3 by editors at The New York Times.
How are you experiencing this alleged improving economy?