Tag Archives: workers

78 Percent Of U.S. Workers Are Living ‘Paycheck To Paycheck’ And 71 Percent Of Them Are In Debt

Are you living paycheck to paycheck?  Is so, you are just like most other hard working Americans.  As you will see below, 78 percent of full-time workers in the United States say that they are living paycheck to paycheck.  That is the highest figure ever recorded, and it is yet more evidence that the middle class is under an increasing amount of stress.  The cost of living is rising at a much faster pace than our paychecks are, and more families are falling out of the middle class with each passing month.  Unfortunately, this is something that the mainstream media really doesn’t want to talk about these days.  Instead, they just keep having us focus on the soaring financial markets which are being grossly artificially inflated by global central banks.

When I came across the numbers that I am about to share with you I was actually quite stunned.  I knew that things were not great in “the real economy”, but I didn’t expect that the number of Americans living paycheck to paycheck would actually be rising.  But that is precisely what a brand new survey that was just released by CareerBuilder is saying…

Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.

Overall, 71 percent of all U.S. workers said they’re now in debt, up from 68 percent a year ago, CareerBuilder said.

While 46 percent said their debt is manageable, 56 percent said they were in over their heads. About 56 percent also save $100 or less each month, according to CareerBuilder.


The first thing that we want to note about this survey is that it only includes full-time workers.  So the unemployed, part-time workers, those that work for themselves and those that are independently wealthy were not included.

The second thing that we want to note is that these numbers have gotten worse since last year.

That certainly does not fit with the narrative that we are being fed by the mainstream media, but it does fit with the reality that most people are living on a daily basis.

Most Americans work extremely hard, but they can never seem to get ahead.  Most of us are in debt, and a couple of weeks ago I wrote about how the elite use debt as a tool of enslavement.  As we work endless hours to “pay the bills”, we are steadily enriching those that are holding our debts.

In addition, the cost of living is steadily going up, and most U.S. families are just barely scraping by from month to month as a result.  Just a couple days ago I wrote about how Obamacare was causing health insurance premiums to skyrocket, and today I came across another example of someone that has seen their annual premiums more than double during the Obamacare era…

For some lower-income people in Obamacare, the rising premiums President Donald Trump has talked so much about will barely be felt at all. Others, particularly those with higher incomes, will feel the sharp increases when insurance sign-ups begin Wednesday.

Richard Taylor is one of the people on the wrong end. The 61-year-old, self-employed Oklahoman has meticulously tracked his medical costs since 1994. In 2013, he signed up for an Affordable Care Act plan for the law’s first year offering coverage to millions of Americans.

Four years ago, annual premiums for a mid-level “silver” plan to cover his family totaled $10,072.44. For 2017, they were $21,392.40—up 112 percent.

Who can afford $21,000 a year for health insurance?

I know that I can’t.

And rates are supposed to go up substantially again in 2018.  We must repeal Obamacare, and we must do it now.

In addition to financial stress, most Americans are also deeply concerned about the future of this country.  Just consider the following numbers from a poll that was released this week

Almost two-thirds of Americans, or 63 percent, report being stressed about the future of the nation, according to the American Psychological Association’s Eleventh Stress in America survey, conducted in August and released on Wednesday.  This worry about the fate of the union tops longstanding stressors such as money (62 percent) and work (61 percent) and also cuts across political proclivities. However, a significantly larger proportion of Democrats (73 percent) reported feeling stress than independents (59 percent) and Republicans (56 percent).

I certainly can’t blame the Democrats for being stressed out.  Donald Trump is in the White House and pro-Trump forces are taking over the Republican Party.  And if a large wave of pro-Trump activists goes to Congress in 2018, we are going to take this nation in a completely different direction.

That same survey referenced above also discovered that 59 percent of Americans consider this “to be the lowest point in our nation’s history that they can remember”

A majority of the more than 3,400 Americans polled, 59 percent, said “they consider this to be the lowest point in our nation’s history that they can remember.” That sentiment spanned generations, including those that lived through World War II, the Vietnam War, and the terrorist attacks of Sept. 11. (Some 30 percent of people polled cited terrorism as a source of concern, a number that’s likely to rise given the alleged terrorist attack in New York City on Tuesday.)

That number seems very strange.

Yes, I can understand that those on the left are very pessimistic now that Trump is in the White House, but this is definitely not the lowest point in recent history.

Have people totally forgotten the financial crisis of 2008?

What about 9/11?

The JFK assassination, the Vietnam War, the deep recession during the Carter years and the entire Obama era are also examples of very low points in recent history.

Yes, great challenges are coming, but for the moment the economy is relatively stable, much of the world is at peace, and at least Hillary Clinton is not in the White House.

There is so much to be thankful for, and if people out there think that this is the “lowest point” in recent American history, how are they going to feel when a real crisis comes along?


Report: Tesla fires hundreds more workers in its SolarCity unit

SolarCity, the solar energy company Tesla acquired last year, has fired hundreds of additional workers, according to six anonymous sources who talked to CNBC. These dismissals are in addition to hundreds more that were reported earlier this month, and they are on top of previously announced layoffs, CNBC reports. All told, around 1,200 people at Tesla and SolarCity have lost their jobs in the recent wave of firings, employees told CNBC.

Reached by e-mail, Tesla referred back to a statement sent out earlier this month when the initial firings were announced. “As with any company, especially one of over 33,000 employees, performance reviews occasionally result in employee departures,” the company wrote in early October. The company says that recent departures were part of the same review process. The company also emphasized that the process also led to “recognition of top performers with additional compensation and equity awards.”

Some employees weren’t happy with how the process was carried out. SolarCity employees told CNBC that they “were surprised to be told they were fired for performance reasons, claiming Tesla had not conducted performance reviews since acquiring the solar energy business.”

CNBC says some employees were fired individually, while others were fired in group meetings. Three employees told CNBC that they asked for copies of their negative performance reviews but hadn’t gotten them. A Tesla spokesperson declined to comment on how the review process was conducted.

In September, SolarCity announced around 200 layoffs in offices in Roseville, California. Those notifications were required by California’s WARN Act, which requires advanced notice if companies lay off more than 50 people. But the new round of job losses extends well beyond that office, employees said, with firings in Nevada, Arizona, Utah, and elsewhere.


SolarCity signaled in May that it was ending door-to-door sales. The company said at the time that affected employees would be considered for other jobs within the company.


44 Million Immigrants Driving Down Pay for US Workers

Market Watch reports “more bad news” for United States workers, projecting that “pay rises will be dismal next year”:

Pay raises for U.S. employees are not expected to improve next year, according to a survey released Monday by global professional services company Aon, based on a survey of over 1,000 companies. Base pay is expected to rise 3% in 2018, up slightly from 2.9% in 2017. Spending on variable pay — incentives or bonuses — will be 12.5% of payroll, low levels not seen since 2013. This suggests a “pessimistic view of corporate performance in the coming year,” Ken Abosch, a strategy and development analyst at Aon, said in a statement.

“Companies remain under pressure to increase productivity and minimize costs,” he said. “As a result, we continue to see relatively flat salary-increase budgets across employee groups, with most organizations continuing to tie the majority of their compensation budgets to pay incentives that reward for performance and business results.” Middle-of-the-road performers will lose out: 40% of companies said they’re reducing or eliminating increases for lesser performers.

In totally unrelated news, Pew Research reports that 34 million legal immigrants now live in the United States competing with US workers for jobs and/or living on taxpayer-provided government services:

Lawful immigrants account for three-quarters of the foreign-born population in the U.S. – 33.8 million people out of 44.7 million in 2015, the most recent year for which numbers were available. Among lawful immigrants, those who hold U.S. citizenship (19.8 million in 2015) outnumber lawful permanent residents (11.9 million).


The rest of the foreign-born population consists of 11 million unauthorized immigrants and 2.1 million people in the U.S. on temporary visas. The total foreign-born population, 13.4% of the U.S. population in 2015, is somewhat below the historic high of 14.8% in 1890, when 9.2 million immigrants lived in the U.S.

It isn’t difficult to understand. We are talking about basic supply and demand. Importing millions of Third World people increases the supply of labor, especially for jobs generally taken by working and middle class people. This lowers the demand for labor, allowing employers to pay workers a lower wage. Decades of flooding the USA with tens of millions of Third World immigrants, legal and illegal, has resulted in stagnant wages. Low wages is a policy decision made by our political leaders.


Immigrant Workers Stunned To Be Fired After Skipping Work For Protest

More than 20 immigrant workers in Michigan were stunned to find themselves out of a job after they skipped work to attend a “Day Without Immigrants” rally in February.

The former employees of Detroit-area auto parts maker EZ Industrial Solutions LLC say they were wrongfully fired, despite warnings from company management that there would be repercussions for missing work without permission.

They are now taking their case to federal labor regulators, the Detroit Free Press reported. In a charge filed with the National Labor Relations Board (NLRB), the immigrant workers from Mexico and Central America claim EZ Industrial Solutions unjustly fired them for taking part in a political protest.

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One Boston Employer Gave Potential Workers A Math And Drug Test; The Result Was Disturbing

While the Fed’s traditionally drab Beige Book described the US economy in conventional terms, growing “at a modest to moderate” pace, one relatively new development was the recurring complaint by employers that they are having an increasingly more difficult time in finding qualified and skilled workers to fill empty positions.

Labor markets remained tight, and employers in most Districts had more difficulty filling low-skilled positions, although labor demand was stronger for higher skilled workers. Modest wage increases broadened, and reports noted bigger increases for workers with skills that are in short supply. A couple of Districts reported that worker shortages and increased labor costs were restraining growth in some sectors, including manufacturing, transportation, and construction.

That said, we have difficulty finding where in the labor market data one can validate the Fed’s finding that wages are growing due to rising labor pressures. If anything, the latest jobs report was a big disappointment not only in terms of overall payrolls, but also wages, with real wages continuing their slump…

… prompting Morgan Stanley to caution that “wage growth is leveling off and may be slowing” and leading the suddenly reflationary Albert Edwards to ask “where is the wage growth“, we want to bring attention to one amusing anecdote, which we find quite believable.

According to the Boston Fed the qualified labor shortage is so bad, that the hit rate on hiring after a simple math and drug test, collapses below 50%. To wit:


Labor markets in the First District continued to tighten somewhat. Many employers sought to add modestly to head counts (although one manufacturer laid off about 4 percent of staff over the last year), while wage increases were modest. Some smaller retailers noted increasing labor costs, in part driven by increases in state minimum wages being implemented over a multi-year period. Restaurant contacts, particularly in heavy tourism regions, expressed concern about possible labor shortages this summer, exacerbated by an expected slowdown in granting H-2B visas. Half of contacted manufacturers were hiring, though none in large numbers; several firms said it was hard to find workers.

One respondent said that during a recent six-month attempt to add to staff for a new product, two-thirds of applicants for assembly line jobs were screened out before hiring via math tests and drug tests; of 400 workers hired, only 180 worked out.

In retrospect, the US may indeed have a qualified worker crisis on its hands.