Whether we like it or not, if productivity and automation are going to be the name of the game, along with...

Whether we like it or not, if productivity and automation are going to be the name of the game, along with short-sighted executive compensation structure, we might not see the kind of wage increases that we saw in the past. We have stated this several times in the past.

Moreover, if the recent trends continue, cumulative career lifespan is expected to come down, while number of jobs a person need to switch during that span will increase further, and also more would be forced to take projects based jobs. That is why we had mentioned that it becomes important for individuals and families to become self-reliant, self-sufficient, and more independent, while living within our means.

This is what we touched upon, when we mentioned about jobs that are being created by companies like Amazon with a median salary of $28000, Uber, Lyft and similar such companies. Same applies for SM companies, while we direct our resources and labor force lesser and lesser on key issues on hand.

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Originally shared by Ron Dobbs

America doesn’t have a jobs crisis. It has a good jobs crisis.

When Republicans delivered their $1.5tn tax cut last December they predicted a big wage boost for American workers. Forget it. Wages actually dropped in the second quarter of this year.

Not even the current low rate of unemployment is forcing employers to raise wages. Contrast this with the late 1990s, the last time unemployment dipped close to where it is today, when the portion of national income going into wages was 3% points higher than it is today.

What’s going on? Simply put, the vast majority of American workers have lost just about all their bargaining power. The erosion of that bargaining power is one of the biggest economic stories of the past four decades, yet it’s less about supply and demand than about https://www.theguardian.com/commentisfree/2018/jul/29/us-economy-workers-paycheck-robert-reich institutions and politics.