Your future and your children's future

Heads up, everybody.  The following is your future and your children's future and your country's future.  When you don't have a full employment policy to push wages up, you end up with McCrap jobs as a primary employer.  This is not hard---a surplus of any commodity, including labor, results in lowering of the price of the commodity.  Inflation is a surplus in the supply of money, and falling wages represents a surplus in supply of labor.  Instead of cutting your Social Security and other obligations, the legislators need to cut the supply of labor, i.e.. end outsourcing, offshoring, and illegal immigration.  Do you hear anybody, anybody at all, among the talking heads talking about that?  No, it's all smoke and mirrors, about how much are they going to cut and how much are they going to tax.  When you have full employment, and a stable money supply, you have the best of both worlds, rising wages and an expanded tax base, while at the same time, you don't need as much spending on poverty programs.---rng

     I don't think is what we expected for an economic recovery.

  ------lee     

Updated: Monday, 30 May 2011, 2:42 PM EDT

Published : Monday, 30 May 2011, 2:42 PM EDT

     (NewsCore) - WASHINGTON -- For more than two decades, the term "McJob" has been used as code word for low-paying, low-skilled employment.

      But the May payrolls report, due Friday from the Labor Department, likely will be influenced by hiring from McDonald's.

      On April 19 — about a week after the government conducted its survey for the April jobs report — the hamburger chain ran a promotion designed to hire 50,000 workers. In fact, the fast food giant hired 62,000, most of whom will receive just little above the federal minimum wage.

      Given that economists polled by MarketWatch expect May payrolls to slow to 180,000 from 244,000 in April, there is a possibility that McJobs will account for a big slice of the jobs created by the US economy during the month.

      Repeated messages left with McDonald's were not returned.

      Morgan Stanley economists estimate the McJobs effect at between 25,000 and 30,000 — and also noted that flooding in the Southeast may have subtracted a similar number of jobs.

      Economists also expect a slight improvement in the unemployment rate, to 8.9 percent from 9.0 percent in April.

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