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A Lost Decade for Jobs, Unless …

A Lost Decade for Jobs, Unless …. Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu. Demographic groups. Ages 16-19 26.0% Ages 20-24 14.8 African-American 16.1 Latino 12.4. Causes of “jobless recovery”. 1. Slow growth of the economy

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A Lost Decade for Jobs, Unless …

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  1. A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu

  2. Demographic groups Ages 16-19 26.0% Ages 20-24 14.8 African-American 16.1 Latino 12.4

  3. Causes of “jobless recovery” 1. Slow growth of the economy 2. Business emphasis on cost-cutting especially labor costs reluctant to hire “speed up” employed workers “outsourcing” jobs overseas

  4. How long will it take to recover 8.4 million jobs? monthly years arrival rate of UE avg. ↑E to E0 date at E0 at arrival date * 70,000 10 Jan. 2020 14.6% 100,000 7 Jan. 2017 9.4 200,000 3.5 July 2013 8.6 * assumes 0.8% increase in the labor force per year

  5. Anchor Page HELP for 99ers WHATs NEW RADIO SHOW twitter-chat WALL OF SHAME NYC 99er Rally legislators-list Videos GOOD STUFF Vision/mission About us WARNING Tier 5 99ers Blog Jobless Unite TIER 5 to SURVIVE !!!! *******GREAT NEWS ABOUT TIER 5 see: Tier 5 - 99er Blog !!!! If you have not yet checked out the www.99ersUnited.com website, PLEASE DO!!! That site is terrific! **********************

  6. Not due to “not enough jobs” Due instead to: Mismatch of skills Mismatch of location “Structural Unemployment”

  7. General Principle: Everyone has the basic human right to productive employment at a decent income What is to be done?

  8. Demand that the government provide full employment Tax the rich to pay for it Plus 25% cut in military spending • Worker owned cooperatives USW - Mondragon • 3. Socialist revolution and establishment of democratic socialist economy What is to be done?

  9. “In our day these economic truths have become accepted as self-evident. We have accepted a second Bill of Rights under which a new basis of security and prosperity can be established for all. The right to a useful and remunerative job is one of these rights.” State of the Union Address, January 1944 President F. Roosevelt

  10. United Nations Declaration of Human Rights (1948) Everyone has the right to work, to free choice of employment, to just and favorable conditions of work and to protections against unemployment.

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