Finances

jobmarket

Their has been a huge debate going on lately about the job market and its success rate . Some people say the job market is doing the best it has ever done while some people are saying that its failing .

According to the Bureau of Labor Statistics (1)the most current unemployment rate is 6.7% and that’s not even including people who have quit looking due to a bad result and/or not being qualified for the job . The problem with this situation is a huge part of the 6.7% are college graduates with more than $50,000 in student loans that is expected to be paid back six months after graduation,

Source 1: http://data.bls.gov/timeseries/LNS14000000

Their is an old saying ,”The children are the future ” so if the children are our future then we as a country have a future filled with economic problems . According to the American Student Assistance 60%of students that attend college have to take out loans and their are currently $1 trillion in total outstanding student loan debt in the US today(2) . If we as a country have an entire generation that is bundled down with massive student loan debt then how can we expect to maintain the economic prosperous country that has kept this country going for years?

Source 2: http://www.asa.org/policy/resources/stats/

We as a country need to be focused on creating jobs because student loan providers expect their money to be paid back six months after graduation and this country can not thrive economically on trillions of dollars worth of student loan debt. . The main thing we as a country need to focus on is what are we as a generation going to leave for the next generation? As of now we have $17 trillion dollars worth of debt and that’s not even counting other unpaid bills.

the-real-world-job-market-thumb-500x333

*The current US debt can be checked at :

http://www.usdebtclock.org/

We have a lot of priorities in this country but the debt rate simply isn’t number one like it should. Right now as we speak China is currently buying out American lands to cover for some of our debts.This should concern everyone not only because of our debt situation but because we are no longer the superpower we used to be .

http://finance.fortune.cnn.com/2013/06/04/smithfield-china/

If we as a country don’t get our finances right we will have nothing left to give to the next generation. Thirty years ago a student was guaranteed a job , not any job but a job with great benefits, after high school but now a student is lucky to get a job at all and if he does their will be no to very little benefits .

This is a problem that didn’t just appear overnight it has been a problem for a while now that has been worsening over time. If we as a country want to continue to be the “Land of the Free” we need to pay our bills and stop creating new ones. I understand we have to spend some money but what I am talking about is politicians having $1 million hotel bills on the taxpayer’s expense.

http://abcnews.go.com/blogs/politics/2013/03/hotel-contracts-for-biden-trip-to-london-paris-totaled-1-million/

http://www.nydailynews.com/news/national/vice-president-biden-racks-500g-hotel-bills-article-1.1296973

We as a country need to address this problem because according to history countries who don’t handle their debt have very bad endings.

http://www.businessinsider.com/the-greatest-economic-collapses-in-world-history-2012-7?op=1

For more articles like this please visit my political blog(the link is below);Also don’t forget to view old posts , don’t forget the new posts, on this blog and please subscribe and share this page with others. Thanks.

http://www.turningpointusa.net/author/jwilliams/

“According to statistics an increase in minimum wage WILL NOT help the poor.”

ten-dollar-minimum-wage

Recently their has been an argument stating that minimum wage earners need to get an increase so they can have a nice salary to live off of.

In my state minimum wage is $7.25 so if someone is working at fast food restaurant 40 hours a week they are looking at a paycheck that is around $200 or $300 . When you say the words minimum wage out loud the first word you hear is minimum and that is for a reason; Minimum wage jobs were never created to live comfortably off of .

Minimum wage jobs were created for people who don’t have the same skills as people do in non-minimum wage jobs. According to an article I read on The Federalist , “11 Facts about the Minimum Wage That President Obama Forgot to Mention” 1/3 of minimum wage workers either dropped out or never attended high school.So when you hear people yell slogans like “Corporate Greed” keep statistics like that in mind.

So as soon as people accept the fact that minimum wage jobs were never meant to be a career then this would help people understand that minimum wage positions were never created to pay employees $19 per hour.

According to an article on Forbes, “Almost Everything You Have Been Told About The Minimum Wage Is False” only 0.8 percent of all Americans over 25 are earning minimum wage. Yes you read it correctly only 0.8 percent of ALL Americans are earning minimum wage.

If you keep up with the news constantly like I do I know you have heard people scream “Corporate Greed” but now you know they are the ones who are uninformed. Whats even more shocking is only 63% of workers who earn less than $9.50 per hour (Keep in mind minimum wage in most states is $7.25) are the second or third earner in the family and 43% of those workers live in a household that has an annual salary of more than $50,000. 

So in other words most minimum wage earners are living with people who make more than $50,000. Now if you don’t know by now the mainstream media only tells you what their leaders want you to know so you are not going to hear this on CBS or ABC.  My reason behind that statement is the news will have you believe that minimum wage workers go home to shacks with no electricity but the statistics say otherwise.

In closing their is one more thing I want to mention ;A full-time minimum wage worker in 2014 will make 24% more than the federal poverty limit.

**This article was written to inform people about minimum wage this article was not written to talk bad about minimum wage earners.

For more articles like this please visit my political blog(the link is below);Also don’t forget to view old posts , don’t forget the new posts, on this blog and please subscribe and share this page with others. Thanks.

What are your views on minimum wage? Do you think everyone on earth should get paid the same to prevent income inequality? Please feel free to comment.

http://www.turningpointusa.net/author/jwilliams/

 

 Links to the articles about minimum wage.

1. http://thefederalist.com/2014/01/28/11-facts-about-the-minimum-wage-that-president-obama-forgot-to-mention-during-the-state-of-the-union/

2. http://www.forbes.com/sites/jeffreydorfman/2014/01/30/almost-everything-you-have-been-told-about-the-minimum-wage-is-false/