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Expat Files – 06.02.17

#1- The Secret Life of a Latin Maid (muchacha): what do they talk about when they get together. Do they talk about you, her employer? Of course they do but what can they be saying behind your back? #2- Those ridiculously low Latin American wages: yes they vary a bit from country to country but are by our standards beyond …

Mike Elk – Lawmakers Want to Close the Loophole That Pays Disabled Workers Pennies An Hour

Recently released Census data reveal that, in 2015, the poverty rate dropped significantly for most demographic groups. One of the only groups who didn’t see an improvement were people with disabilities: the percentage of disabled Americans (age 18-64) living in poverty increased from 25.9% to 26.5%. For Americans without disabilities, the poverty rate decreased from 14.1% to 12.8%. The data …

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Nick Hanauer – Confronting the Parasite Economy

There are two types of businesses in America today: those that pay their workers a living wage—the real economy—and those that don’t—the parasite economy. And all of us who live and work in the real economy should be royally pissed at the way the parasite economy is sucking us dry. Here in the real economy, we solve the problems, build the things, and pay …

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Jobs: How Good are the Jobs the Economy is Creating?

The Wall Street Journal has an interesting report on the jobs created since the recession. The article takes a close look at employment and wage data to see the makeup of newly created jobs. There are some flaws and data inaccuracies in the journal report. Nonetheless it is an excellent starting point for discussion. Please consider Just How Good (or Bad) Are All …

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Credit Card Debt Levels Reaching Unsustainable Levels, Says CardHub CEO

Interview with Odysseas Papadimitriou, CEO of CardHub, on their latest study examining the accelerating increase in credit card debt levels, why he thinks this is unsustainable, and may soon “spiral out of control.” Subscribers can access the full broadcast on Thursday by logging in and clicking here. Not a subscriber? Click here. Forgetting Lessons of Great Recession “A lot of consumers have …

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Bill Quigley – Ten Troubling Numbers Labor Day 2015

5.1. The official unemployment rate is 5.1 percent, or 8 million people, according to the US Department of Labor.  However, this widely reported “official” number overlooks the millions of people unemployed for more than a year nor does it count those who are working part-time and looking for full-time work.  The Department of Labor monthly report which includes people working …

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Abayomi Azikiwe – US Imperialism and America’s “New Cold War” against Africa

A conference sponsored by the United States State Department began on Aug. 24 in Libreville, Gabon to further promote trade between Wall Street and Africa. Gabon, a former French colony, is an oil producer which has maintained friendly relations with both Paris and Washington. French troops are still stationed in Gabon and have been activated under conditions of mass demonstrations …

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Peter Gosselin – Why American Teens Aren’t Working Summer Jobs Anymore

This was supposed to be a better year for teenagers to land summer jobs, and July has always been the peak month for such positions. Things haven’t worked out that way, according to the Labor Department’s latest jobs report. On an unadjusted basis — which is probably fairer given the question is seasonal jobs — there was a 1.2 million increase in teen …

A summer without jobs for America’s youth – Andre Damon

This summer, only about one in four US teenagers will hold a job, down from one in two fifteen years ago. The decline in employment for teenagers is a major component of the mass joblessness that continues in the aftermath of the 2008 financial crisis. Despite six years of what has been officially billed an economic “recovery,” the share of …

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Unemployment Report Shows Labor Force Drop Outs At Record High

The March unemployment rate remained the same, yet once again the BLS survey showed another huge increase in those not considered part of the labor force anymore and as a result the figure hit a record 93.175 million high.  The official unemployment rate is 5.5%.  The labor participation rate is also 62.7% and remains at 37 year record lows.  From …