Any jobs America has added in recent months are no reason to be optimistic. The truth is the added jobs are overwhelmingly service-sector jobs not the sort of thing one builds a strong economy in. The true wealth-producing jobs that America used to be famous for elude us still. This is why income inequality is so high, the good jobs have left our shores and we are left to a servant economy with servant jobs.
Tag Archives: Unemployment
The fear of obtaining Ebola caused quite a hubbub in the United States. However, what should actually be spreading more fear is the amount of people getting ill and dying from foodborne illnesses every single year. We now have to take a second look at the food we buy from grocery stores and we must pay close attention to food recalls due to the fact that imported food is simply not properly inspected.
As recent graduates begin to pay back their student loans for the first time, we are beginning to realize that student loan debt is crippling our economy. A college degree now can’t protect Americans from tumbling down the economic ladder. It used to be that people with higher education people would have an easier time finding jobs that paid great wages, had benefits, and paid time off. People sought out higher education not just to become well rounded individuals, but to prepare for a bright future with good pay. Now, people with master’s degree and doctoral degrees are facing long-term unemployment with the fear of student loan debt, inability to obtain a mortgage, and putting marriage on the back burner.
Although our economy is facing many threats nowadays such as lack of jobs, a manufacturing base that is decimated, a tax system that is out-dated, and political leaders who’s best interest isn’t in the U.S., another dangerous threat to our economy is student loans. According to USA Today, one of the biggest threats to our economy is student loans. There is over $1.2 trillion of student loan debt currently owed. What used to be thought of as prestigious is now being considered as a toxic asset. Student loan debt is soaring as the rising generation is diving head first into an era where young adults are unable to save and invest their money. This isn’t only taking a toll on their personal lives, but it is causing long-term harm to America’s economy.
U.S. restaurants are planning to boost prices 2 percent during the next six months due to the pressures rising beef, cheese, and pork prices. However this is causing major declines in sales due to people being price sensitive and not being able to afford higher meal prices. “If you encourage and kind of seed the notion that you can come in for a couple bucks and get some food, and then you can’t do that anymore, there’s bound to be a reaction,” said John Gordon, an adviser to restaurants and franchisees.