Quote:
Originally Posted by rsmurano
In the 48 months that somebody was referring too, it was all fake. Every month for the last year they had to correct their o er reaching jobs stats because they wanted to make things look better for November. Also, most job creation was in government which is wasted jobs not productive jobs. Remember the 80k irs workers that the government was hiring? I would make them all ice agents or fire them.
As for wage growth, it was all due to the foolishness of raising the minimum wage to $20 hr, so now your McDonald’s happy meal is $20 in California instead of the old $5. Everybody had to raise their cost of living and the cost of goods because of this so the $20 hr employee is still making poverty wages. Everything went up to coincide with the salary increases. The only people that suffered are the old folks on social security/fixed income. If I was still working making hundreds of thousands $$$, I would ask for an equivalent wage increase too, cost of goods was going up for me too. It’s a never ending spiral that people don’t understand. People that demand high minimum wages will pay more for all the goods so the financial situation will not change. They need to get a better job!
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The Govt always revises the economic stats when new data is incorporated.
Job creation was NOT due to Govt hiring.
Additional IRS auditors bring in more Govt revenue than they cost.
Wage growth is NOT just because of a $20 minimum wage. In Florida the minimum wage is $14 and it’s less in most states. Less than 2% of American workers make minimum wage.