If people are looking for middle Class factory jobs like they had in the 1950s through 1990s since 63,000 factories either closed or went overseas since 2001 those are all mostly gone. Yes. Jobs are changing. You likely cannot get a good job without trade school or a college degree anymore. I think this is the "Recession" that non-graduates of high school or college are talking about who are Trump's core supporters. And this type of way of viewing recession is happening now also.
Jobs are going to be harder to get and need more and more skilled people than now also. So, people who aren't inventors or entrepreneurs naturally are going to have a harder and harder time staying employed here in the U.S. Things are moving very high tech in the extreme the next 20 to 50 years or more. So, the job situation is only going to get worse for those not highly educated and highly skilled. (at least here in the U.S.)
It is moving more towards a place where there will be people invested in the stock market and there will be poorer people who are not and who suffer because of it. However, to be invested in the stock market takes a lot of knowledge in how to position yourself. So, if you don't have capital and don't know how to invest it relatively safely then how are most people going to get ahead?
Because most of the recovery since the Great Recession has been in the stock market and not in jobs or property values.
So, this is the problem that all classes are dealing with now here in the U.S.
So, without a lot of specific skills people likely are not going to get ahead the way things presently are in both the U.S. and the world. So, changing how we think about all this and becoming ever more innovative might be the most useful thing now.
In a way it has always been this way, "innovate and adapt or die". This is the "law of the jungle' that all mankind has always lived with and still does.
Each of us Creating our own opportunities and not expecting others to do this for us likely will be the only answer available as people realize that being an entrepreneur and business owner might be the only way they can survive. (or farmer) or something like that.
begin quote from:
Donald Trump's 'massive recession' is already here, for some people
| Yahoo Finance | - |
Economists
were quick to point out the obvious: There's no sign of the “very
massive recession” Donald Trump predicted in a recent interview with the
Washington Post, either now or any time soon.
Donald Trump’s 'massive recession' is already here, for some people
Some Americans feel they're living in a permanent downturn.
Economists were quick to point out the obvious: There’s no sign of the “very massive recession” Donald Trump predicted in a recent interview with the Washington Post,
either now or any time soon. In fact, overall job growth is strong,
suggesting a modest economic expansion is likely to continue.
The commonly accepted definition of a recession is two or more consecutive quarters of negative economic growth. That hasn’t happened since 2009, if you’re looking at the U.S. economy as a whole. But there are many pockets of economic stress throughout the country, with millions falling behind even if national data doesn’t highlight the problem.
A Yahoo Finance analysis of state-by-state data earlier this year, for instance, found that incomes have grown by less than inflation in 28 states since 2007, indicating that the purchasing power of the typical family has declined in those states. Manufacturing employment – the higher-paying blue-collar jobs many families used to depend on – has dropped in all but six states since 2007. Among the states suffering the most with job losses and stagnant income: New Mexico, Nevada, Florida, Alabama and Michigan.
Some
national numbers show the problem as well. Median household income,
adjusted for inflation, is still 0.3% lower than it was in 2000,
according to Sentier Research. That means the typical family earns
slightly less than it did 16 years ago, an extraordinarily long period
of stagnation. Some families have done better than the median, but some
have done worse, and it’s a good bet many of the underperformers turn up
at Trump campaign rallies (and Bernie Sanders rallies too). If your
family is earning less than it was 10 or 15 years ago, it doesn’t really
matter what the official definition of recession is, because you’re in a
personal recession that has lasted way too long.
There have
always been haves and have-nots in the U.S. economy, but the wall
between them seems to be getting higher. Workers connected to global
trade and the digital revolution are doing well, and there are enough of
them to push overall growth of the U.S. economy over 2% and create more
than 200,000 new jobs each month. The healthy parts of the economy
include tech hubs such as Silicon Valley, Denver, Austin and Boston,
coastal cities such as New York, Miami, San Francisco, Portland and
Seattle, sun belt meccas such as Dallas and Houston, and even farm-belt
states like Iowa and Nebraska.
Workers
hoping for lucrative, lower-skill work that that doesn’t require a
college degree are the ones who face declining opportunity. Robots and
software handle many of the rote jobs humans used to do (assembly-line
work, travel agents, bank tellers), with entrepreneurs continually
hunting for old industries susceptible to technological disruption. And
there are still many left to disrupt.
The
United States also has a thinner safety net than a lot of other
advanced economies, especially those in Europe. On the whole, that has
left millions of displaced workers who aren’t sure what to do, where to
go or whom to ask for help. On the ground, where people live, there is
not one U.S. economy, the way economists measure national data in the
aggregate. There are at least two—the thriving digital economy of the 21st century, and the legacy, declining industrial economy of the 20th.
Whether
wittingly or not, Trump has connected with workers stuck in the
declining industrial economy and given voice to their frustrations.
“People are extremely unhappy in this country,” Trump told the Post. He
ought to know, since angry voters have made Trump the leading Republican
presidential contender. The question is whether there are enough
unhappy people to actually make him president.
Rick Newman’s latest book is Liberty for All: A Manifesto for Reclaiming Financial and Political Freedom. Follow him on Twitter: @rickjnewman.
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