employment

Corporations Hoard Cash While Americans Go Without A Job

The amount of cash multinational corporations are stashing is at an all time high and economists are wondering why.  A recent Federal Reserve research paper examined some of the reasons.  A big one is multinationals pay no taxes on profits if they park them offshore.  A stash of cash is building and the miser pile is now a mountain.

The No Jobs Economy is the New Economy

One of my most popular columns was about escaping from the Matrix existence in which Americans live.  It is a world of disinformation and misinformation in which facts are fiction, and abstract theories are substituted for empirical reality.

Official government statistics are make-believe.  The government makes inflation and unemployment disappear by how it defines inflation and unemployment, and it makes the economy grow by how it defines Gross Domestic Product.  The definitional basis determines the statistical result.

Congress Betrays The U.S. STEM Worker Once Again

stemThe House of Representatives is out to destroy the American Science, Technology, Engineering and Mathematics Professional. Republicans passed H.R. 6429 with the oxymoron title, STEM Jobs Act of 2012. STEM stands for Science, Technology, Engineering and Mathematics and this bill gives 55,000 foreigners a year who graduate from an American university with a Masters or PhD in these fields an employment sponsored green card. Democrats didn't like it, not because it will labor arbitrage American Technical Professionals and lock out some Americans from even being accepted into Masters and PhD university programs. No, Democrats don't like the idea of separating the agenda of giving those here illegally legal status from the corporate lobbyist never ending demand for more foreign guest worker Visas and turning the American higher education system into a glorified green card ATM. Democrats believe they will never get their unlimited migration agenda through Congress without sacrificing the American Science and Technology professional to the globalization wolves.

More on the Economic Effects of Superstorm Sandy

hurricane sandy

Superstorm Sandy's economic effects are popping up like the dark clouds of a hurricane. In The Perfect Storm we predicted Sandy would negatively impact Q4 GDP by 0.5 percentage points. The Philadelphia Federal Reserve's survey of professional forecasters recently downgraded their Q4 GDP estimates by 0.4 percentage points to 1.8% annualized Q4 GDP growth. There are some estimates which are as low as 0.5% Q4 GDP, much of the downgrades due to superstorm Sandy.

Now the data is rolling in, like the storm surge itself. Sandy hit the New Jersey coast on October 29th. Even while the damage, loss of power, business closings and economic activity would seem to go negative after that date, October industrial production was hit with a full percentage point of Hurricane Sandy related contraction.

America is Great, Just Not for Most People Who Work for a Living

despairThe never ending stream of bad news for the U.S. work force cascades upon us like a tidal wave of despair. A host of studies have come out which put into numbers what most of us know, the American worker is being taken to the brink of financial ruin and even death.

Suicide has replaced motor vehicle accidents as the leading cause of death by injury and has increased 15% since 2000. While most people who commit suicide has psychiatric disorders, the fact is higher incidents of suicide do happen during bad economic times. Even more amusing is the government response, as if the best cure for feelings of despair, low self worth is not a damn job along with a healthy dose of respect for working people.

Homeless rates have actually not changed between 2009-2011, but that's only due to a large grant by the Federal government to keep more people sheltered. Now that funds have run dry and under attack by deficit hawks, expect homeless numbers to rise.

Despite the fact that the number of homeless people was essentially unchanged between 2009 and 2011, there is much reason for concern. As this report points out, economic and demographic indicators linked to homelessness continue to be troubling. Homelessness is a lagging indicator, and the effects of the poor economy on the problem are escalating and are expected to continue to do so over the next few years.

What Does It Take For Justice?

workplace death threatImagine returning to your office to see a note taped to your chair which reads:

Just leave, you are not wanted here, hope your journey brings you death.

Imagine coming into work and turning on your computer. The screen lights up with an open Word document, which says:

Burn in your hell and death to you and the family. Infosys rules the world.

That has been the life of Jay Palmer and today an Alabama judge ruled the above threats are not unreasonable in the workplace. Literally the Judge ruled that death threats are not out of bounds in Alabama employment law. The judge claims the threats were not so severe that no reasonable person could be expected to endure it.. So, under employment law is murder now perfectly legal? What does it take here to get justice for U.S. workers?

ComputerWorld has been covering the case and sums up what happened.

In his lawsuit, Palmer claimed he was harassed at work, sidelined and even received death threats for refusing to participate in an alleged Infosys scheme to use workers on business visitor, or B-1 visas, for tasks that required an H-1B work visa.

The Never Ending Science & Technology Job Lie

stem
Almost daily we have article plants by corporate lobbyists claiming a dire shortage in skilled labor, specifically Scientists, Technologists, Engineers and Mathematicians. These occupational areas are collectively known as STEM. Yet the Washington Post, normally a bastion of corporate drum beating propaganda and economic nonsense, called cash on the cry for more Science, Technology, Engineering and Mathematics workers. They point to the glut of PhDs in the United States, in part due to the offshore outsourcing of pharmaceutical research.

Michelle Amaral wanted to be a brain scientist to help cure diseases. She planned a traditional academic science career: PhD, university professorship and, eventually, her own lab.

But three years after earning a doctorate in neuroscience, she gave up trying to find a permanent job in her field.

Dropping her dream, she took an administrative position at her university, experiencing firsthand an economic reality that, at first look, is counterintuitive: There are too many laboratory scientists for too few jobs.

Immigration Banter Leaves U.S. Workers in the Dust

cheap labor flowsHouston, we have a problem. We need jobs. The never ending political banter on immigration is a droning inane brew of special interests. One thing always is constant. At the back of the pack is America's middle class. We even have various groups supposedly representing U.S. labor who seem to be interested in illegal immigrants instead. Even worse, we have numerous lobbyists spinning out economic fiction, trying to claim offshore outsourcing is good for America or displacing U.S. workers with foreigners is somehow good economically. Neither is true. Worker displacement is worker displacement and if anyone is alive these days, the employment statistics say it all. Indeed we saw the foreign born getting majority of the jobs from 2008-2010. We need jobs for U.S. citizens, American workers. We also need a big legal rubber stamp proclaiming U.S. workers are preferred for all jobs within our shores.

Pages