“The economy seems to pulse — surges a little bit, pauses, surges a little bit, pauses,” said Kevin Logan, chief U.S. economist at HSBC. “And in the end it’s nothing.”
That’s the money quote from a very readable piece in today’s Washington Post, one that seems at odds with the doom and gloom emanating from some politicians and pundits.
Before my inbox overflows with tales of woe, I fully understand there are places where the recovery is halting at best. And there are still too many who have decided to exit the workforce – although the number isn’t nearly as high as many think.
And, the percentage of the population that is without health insurance continues to decline – down to 11.0% in Q1, 2016. Deductibles are increasing for many – as they have for the last two decades – but it’s still far better to be insured than not.
Wage growth has increased, the unemployment rate is half what it was at the peak of the recession (and likely headed lower), manufacturing is growing, consumer spending is high, and most stock market indices remain relatively high. Consumer confidence is in a six-month slump, but one wonders if that’s partially driven by the incessant drumbeat of negativity from Trump et al.
All that said, it’s abundantly clear the employment world is going to change dramatically over the next decade, and it is possible if not likely some of the unease is due to fears that automation and offshoring will continue to eliminate stable, good-paying jobs.
I bring this to your attention, dear reader, to add a bit of perspective and data to the discussion.
Enjoy the first weekend in June
I haven’t decided to exit the workforce, the workforce has been shutout to me by companies hiring younger workers for lower wages, companies that refuse to assist in moving workers from places where there are no good jobs in their fields to those places where the jobs are, and because of ever increasing data-driven skills needed for many jobs in insurance.
Add to that a political agenda that wants to take the country back to before the Socialists took over (i.e., Teddy and FDR, Wilson, Eisenhower (that Communist – their words, not mine), Kennedy (another pinko), Johnson, etc.).
Only Saint Ronald gets a free pass because he was one of them.
I am sure your positive attitude and moderate political view in no way affect the outcome of your search.
Try living In Cuba a Cop make $25 per month and all the rice you can eat.