Here are some great example of the disconnect between “the economy is great” and workers feeling disillusioned and left behind.
Yes, unemployment is historically low, but the number of job quits are also very low at 1.9% per month, the lowest it’s been since 2015, which means workers are feeling stuck and unable to get a better deal by switching jobs.
Yes, unemployment is low, but 17% of job switchers got a lower pay when they quit, up from 14% five years ago.
Yes, unemployment is low, but 65% of surveyed workers feel stuck in their roles; they aren’t able to advance their careers and paychecks because there’s nowhere for them to advance into.
The stagnation of workers’ prospects stands in stark contrast against the soaring stock markets (the S&P 500 is up 30% year over year!). This is why I’m cynical whenever a politician claims that “the economy” is doing well.
#economy #
... Show more...Here are some great example of the disconnect between “the economy is great” and workers feeling disillusioned and left behind.
Yes, unemployment is historically low, but the number of job quits are also very low at 1.9% per month, the lowest it’s been since 2015, which means workers are feeling stuck and unable to get a better deal by switching jobs.
Yes, unemployment is low, but 17% of job switchers got a lower pay when they quit, up from 14% five years ago.
Yes, unemployment is low, but 65% of surveyed workers feel stuck in their roles; they aren’t able to advance their careers and paychecks because there’s nowhere for them to advance into.
The stagnation of workers’ prospects stands in stark contrast against the soaring stock markets (the S&P 500 is up 30% year over year!). This is why I’m cynical whenever a politician claims that “the economy” is doing well.
#economy #inequality #greed
“Resentment is building as more workers feel stuck”
axios.com/2024/11/20/american-…
