Friday, February 7, 2014

"You've Got No Job!"

"Today, the pundits are a-buzz making sense of the latest jobs report. But most of us care more about the state of one particular job: our own. How relevant is this latest bit of data to that? Not very. So, to better understand the trends in the work environment most likely impact our own paychecks, it will help to look at another bellwether similar to our fuzzy groundhog friend: AOL. AOL, a once-important pioneer in the transition to the 'digital economy', is once again showing us where the future of work is headed. Unfortunately, like the health of AOL's business over the past decade, it's not a pretty picture. As we've transitioned to an economy in which corporate profitability -- and thereby, stock prices -- is THE metric for success, the employer-employee relationship has become much more superficial than in past generations; and the encroachment of automation remove income options for those temporarily out of work, but it's increasingly limiting the options for the large pool of unskilled labor with few other alternatives"

Zero Hedge - You've Got No Job!

8 comments:

Shouting Thomas said...

Don't worry! Be Happy!

You have escaped the horrors of being job-locked.

Get busy and write that poem you've always dreamed of writing.

Trooper York said...

I have a different problem. I can't find any one to work. That I can trust. That will work for a decent wage. That will show up on time.

It is a constant battle.

Icepick said...

Mish provided my favorite employment fact of the day:

[Over the last year, the US] population rose by over 2 million, but the labor force fell by over a quarter-million. People dropping out of the work force accounts for much of the declining unemployment rate.

MamaM said...

I can't find any one to work. That I can trust. That will work for a decent wage. That will show up on time.

For mechanical and electrical field work, add:

That can pass the drug screen.

That doesn't have a criminal record.

deborah said...

Bartaromo was on O'Reilly last night. He said something about taking 25% of his money out of stocks because he doesn't thing they're safe. She started her BS sounding reasoning to keep your money in for the long haul.

Video:

Bartiromo on O'Reilly

Does anyone think now is a good time to divest, at least partially?

deborah said...

Correction: he said he only keeps 25% of his money in stocks.

AllenS said...

I have a savings account where I bank at. This is the interest rate they are giving:

.1500%

Not even a quarter of 1%.

O'Reilly is probably one of those people that get paid such an enormous amount of money, that he doesn't need to make money for his future.

Savings bonds don't pay shit.

deborah said...

I know O'Reilly's rich, but I'm wondering about his general take on the stock market.