Walmart employees to get raises

Another issue is who gets the increases in productivity. Following the end of WWII, there was a relative shortage of labor and high demand for goods- not just pent up demand in the US from people who pinched pennies and saved during the war and GIs returning home but in Europe and Japan where they needed things to rebuild following the war and they had no infrastucture to produce them. Companies paid higher wages to attract workers. Gains from productivity were shared by both the workers and the owners of capital (the companies). Today, there is less competition among employers for labor (not just locally but internationally as well) so workers have been getting smaller and smaller pieces of the pie. Corporate profits have soared while worker gains have been minimal- despite high increases in per capita outputs.

"If we let companies keep more of their profits, they will create more jobs" so far does not seem to be happening. They are getting more profits, but they are not trickling down to the workers- either in the form of more jobs (which has been improving) or higher wages for workers.

There wasn't much of a true middle class prior to WWII and we now seem to be returning to that state.
 
KCIndy,

Have you seen negative effects over the past year in the fracking industry? I'm wondering what it's now like in eastern Montana, N Dakota, and W Texas.

They're starting to lay people off here in OK. Oilfield work is suddenly no longer the sure-fire high paying job that it has been. It remains to be seen how much of an actual impact this will have around here, it only just seems to be starting.
 
They're starting to lay people off here in OK. Oilfield work is suddenly no longer the sure-fire high paying job that it has been. It remains to be seen how much of an actual impact this will have around here, it only just seems to be starting.

Fracking oil requires high prices for oil to be profitable and wells tend to have short life-spans compared to more traditional wells (many hit peak production after just one year). That means you need to be constantly drilling new ones to keep production at its current level. It is an industry set up for boom and bust. Recently we have had an explosion at one oil refinery and workers went on strike at a few more. That could cause the price of oil to rise back up some more (enough to stop cutbacks in production? Remains to be seen).

Some of the oil areas have been through this boom- bust cycle before (seems to happen about every 20 years or so) and that is why they were reluctant to spend money on infrastructure for oil workers- like more hotels and houses- fearing a glut of them when the crash hit.

Many think oil will stay around $40 to $50 for a while. Tar sands in Canada need closer to $80 to $100 to be profitable and depending on the wells, fracking in the $65 to $80 range. You are right- it is probably just starting.
 
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We've become a nation of WalMarx Employees and Truck Drivers.
 
"If we let companies keep more of their profits, they will create more jobs" so far does not seem to be happening. They are getting more profits, but they are not trickling down to the workers- either in the form of more jobs (which has been improving) or higher wages for workers.

There wasn't much of a true middle class prior to WWII and we now seem to be returning to that state.

"If we let.....?" Of course they aren't making more money. We have a glut of workers. Rising wages isn't a function of profit. It is a function of labor demand. Every time we get to peak employment, the immigrants flood in and drive wages back down.
 
It's simple.

Trucking is pretty much the last blue collar job that pays a decent living wage. The high paying factory jobs are all gone. :(

This x1000

That and the maritime field, but that has very limited opportunities, it's tough to break into, and 8 out of 10 people get too seasick to even think about doing it.

And most important to not forget, it was done on purpose.
 
This x1000

That and the maritime field, but that has very limited opportunities, it's tough to break into, and 8 out of 10 people get too seasick to even think about doing it.

And most important to not forget, it was done on purpose.

I tried to get a fishing job in the Gulf of New Mexico, but they're only hiring mexicans...

(waits for someone to find what is wrong with that statement...)
 
The Walmarts where I live are already horribly understaffed and miserable circuses of corporate laughability.

Here's a toast to more of that. Oh yeah.

and more people complaining they can't be hired. YAY.
 
and more people complaining they can't be hired. YAY.

I can be hired...

For the right price.

Then again I don't have a degree in liberal arts or women's studies so I might have a better chance than most.
 
I can be hired...

For the right price.

Then again I don't have a degree in liberal arts or women's studies so I might have a better chance than most.

You're not complaining, so no worries.
 
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