socialist-economics

Employment Patterns for Older Americans http://conversableeconomist.blogspot.com/2019/09/employment-patterns-for-older-americans.html Americans are living longer, and also are more likely to be working in their 60s and 70s. The  Congressional Budget Office provides an overview of some patterns in "Employment of People Ages 55 to 79"  (September 2019). CBO writes: "Between 1970 and the mid-1990s, the share of people ages 55 to 79 who were employed—that is, their employment-to-population ratio—dropped, owing particularly to men's experiences. In contrast, the increase that began in the mid-1990s and continued until the 2007–2009 recession resulted from increases in the employment of both men and women. During that recession, the employment-to-population ratio for the age group overall fell, and the participation rate stabilized—with the gap indicating increased difficulty in finding work. The ensuing gradual convergence of the two measures reflects the slow recovery fr...

An interesting take on "working class" mainstream news stories internal bias that feeds the "white workers for Trump" memes and links whenever the "working class" term comes up.   However, I am not sure this article does commit a comparable error. The export of capital and factory operations was ongoing long before NAFTA. The poverty of Latin America from a century of corruption, exploitation and extraction was reaching revolutionary boiling points in numerous places. Trade agreements replaced raw imperial intervention techniques. US working class interests were never safe from globalization by right wing nationalism in any form. Mexican auto workers have a different view. The News Media's Blind Spots Covering the Working Class https://workingclassstudies.wordpress.com/2019/09/23/the-news-medias-blind-spots-covering-the-working-class/ At midnight on Sept. 15,  49,000 UAW-GM workers walked out on strike  at locations across the country, a day after thei...

http://conversableeconomist.blogspot.com/2019/09/wage-trends-tell-me-how-you-want-to.html

First rule of the Higher Wages Party: IF IT CUTS LABOR INCOME, ITS BAD! More than eight million workers will be left behind by the Trump overtime rule: Workers would receive $1.4 billion less than under the 2016 rule https://www.epi.org/blog/more-than-eight-million-workers-will-be-left-behind-by-the-trump-overtime-rule-workers-would-receive-1-4-billion-less-than-under-the-2016-rule/ Yesterday, the U.S. Department of Labor announced  its final overtime rule , which will set the salary threshold under which salaried workers are automatically entitled to overtime pay to $35,568 a year. The rule leaves behind millions of workers who would have received overtime protections under the much stronger rule, published in 2016, that Trump administration chose to abandon. For quick details on the history of this rulemaking, see  this statement . The two tables below show just how many workers this administration is turning its back on with this rule, and how much money workers will lose. Using the...

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As a union leader, I've learned one big lesson: Workers can't just rely on promises from CEOs https://www.businessinsider.com/workers-unions-fight-benefits-pay-not-rely-on-corporate-ceos-2019-9?utm_source=feedly&utm_medium=webfeeds CEOs are promising to take better care of workers with stronger benefits and higher pay. But as a union leader, I know firsthand that workers can't take these promises for granted. I led a strike of 20,000 AT&T workers fighting for better pay and working conditions. Our strike proved that workers must be willing to put up a fight to get better conditions. Richard Honeycutt is the vice president for District 3 of the Communications Workers of America. Read all of Business Insider's WeWork coverage here . Some say the era of corporate accountability is here, pointing to statements like the one recently put out by the Business Roundtable in which executives from companies like JPMorgan Chase, General Motors, Lockheed Martin, and Walmart ...

Article Illustrates the kind of challenges we confront IF Dems WIN, or worse, if the fascists are not marginalized. Merkel's Climate Deal Will Cost Billions And Everyone Hates It https://www.bloomberg.com/news/articles/2019-09-21/merkel-s-climate-deal-will-cost-billions-but-everyone-hates-it When it comes to  Germany 's $60 billion climate plan, environmentalists and polluters are in rare agreement. It's a dud. Europe's economic engine wanted to regain its place on the frontlines in the battle over global warming. But instead, Chancellor Angela Merkel emerged from tortuous all-night negotiations with a package that failed to live up to the hype. Far from reclaiming her place as a climate champion, it exposed further the weakness of her leadership now in its twilight years. Activists branded the measures, such as extra taxes on flights and incentives for electric cars, as insufficient for a "climate emergency." Economists criticized carbon price proposals as to...

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Updates from CBPP: In Case You Missed It... https://www.cbpp.org/blog/in-case-you-missed-it-474 This week at CBPP, we focused on the federal budget, health, state budgets and taxes, federal taxes, and the economy. On   the  federal budget , Richard Kogan  explained  that the Senate majority plans to cut funding for the two appropriations bills that cover key human services programs. On  health , Judith Solomon and Matt Broaddus  detailed  how new claims by opponents of Medicaid expansion rest on faulty analysis. On  state budgets and taxes , Elizabeth McNichol  stressed  that state taxes on inherited wealth can be a powerful tool for building a more broadly shared prosperity. On  federal taxes , we  concluded  that the expansions to the Earned Income Tax Credit and Child Tax Credit in the Working Families Tax Relief Act would benefit millions of Asian American households. We also updated our fact sheets on that legislation's benefits to  Black  and  Latino  households. On the  econ...

Electric Vehicle Market So Far Belongs to China text only -- follow link to get graphs https://www.bloomberg.com/opinion/articles/2019-09-20/electric-vehicle-market-so-far-belongs-to-china This week, General Motors Co. Chief Executive Officer Mary Barra spoke to the future of her company, the U.S.'s biggest automaker. "Once you start to believe in the science of global warming and look at the regulatory environment around the world, it becomes pretty clear that to win the future, you've got to win" electric and driverless personal transportation, she told Bloomberg Businessweek. If we look at today's data in key markets — and from some of Barra's biggest competitors — it also looks like an observation of the industry right now. First things first: The global auto market is not only not growing, but it is also shrinking. Sales peaked in 2017 at nearly 86 million on a trailing-12-months basis; right now in 2019, sales are closer to 76 million. Past the Peak Glob...

Harvest of Discontent: Trump's trade war and the rural fight for survival https://www.peoplesworld.org/article/harvest-of-discontent-trumps-trade-war-and-the-rural-fight-for-survival/ There is nothing normal about this September for farmers in the U.S. Midwest Typically, at this midpoint in the month, farmers would be finishing up their small grains harvest and begin taking stock of other crops planted later in the season. Harvest season this year, though, is well behind schedule. The U.S. Department of Agriculture's  September crop report , while slightly higher than the August estimates, shows corn and soybean yields are down from 2018 and lower than the projections shown in the last month's crop production report. Chinese responses to U.S. tariffs have been substantive, but not proportional, so far. Here, the amounts of tariffs now in place and those threatened are shown. | U.S. Census Bureau and Stats.com And while yes, excessive spring rains and flooding across the Mid...