Unemployment fell to the 3.4%, the lowest on record since the early days of the Richard Nixon administration. Jobs have never been easier to find and workers are able to get raises. The American economy, however, relies on cheap compliant labor, so economists are worried.
First They Came for Bigger Cubicles
Ted Rall
Ted Rall is a syndicated political cartoonist for Andrews McMeel Syndication and WhoWhatWhy.org and Counterpoint. He is a contributor to Centerclip and co-host of "The Final Countdown" talk show on Radio Sputnik. He is a graphic novelist and author of many books of art and prose, and an occasional war correspondent. He is, recently, the author of the graphic novel "2024: Revisited."
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Many large corporations are raking in record or near record profits.
When cost go up many large corporations raise prices above the new cost….price gouging.
The current inflation rate is a “symptom” of corporate consolidation, Robert Reich says.
Big tech in silicon valley is laying off programmers (often H1B visa holders) and other high cost workers.
The hospitality sector is the number sector hiring but wages and benefits are close to the bottom.
If this trend continues how long can restaurants and hotels keep hiring