Monday, January 16, 2023

[NJFAC] Dr. King’s goal was full employment and universal health care. J. Phillip Thompson

Dr. King's goal was full employment and universal health care.
J. Phillip Thompson January 21, 2013

Rev. Dr. Martin Luther King, Jr. is a leader for our times. A thoroughgoing revolutionary, he advocated peaceful yet determined resistance to not only racial but also economic subjugation.

Though his approach was nonviolent, he never to advised passivity in the face of injustice or acceptance of the "politics of the possible." His was a call to prolonged protest and self-sacrifice among people of conscience, a resolve strong enough to force a humanistic reordering of national priorities and transformation of the political economy. In opposing militarism and denouncing the Vietnam War during the height of its popularity, King proposed spending money instead on full employment, universal healthcare, affordable housing, and massive investments in education. He repeatedly cautioned that technology and corporate wealth were being used for selfish ends:
The contemporary tendency in our society is to base distribution on scarcity, which has vanished, and to compress our abundance into the overfed mouths of the middle and upper classes until they gag with superfluity. If democracy is to have breath of meaning it is necessary to adjust this inequity.
On this national holiday, as we debate austerity measures, the jobs crisis, and gross inequality, we would do well to recall the entirety of King's mission.
• • •
King believed that racial justice was not the final aim of black Americans' struggle, but rather part of a broader and more fundamental struggle for economic justice. Economic justice also was not the ultimate goal, but it was a condition of that goal: upholding the dignity and promise of human beings everywhere. While he supported blacks' efforts to win political offices and championed black pride as a counter to negative anti-black stereotypes and black self-hatred, King continuously reminded black audiences that winning meaningful improvements required strong alliances with poor whites, Latinos, Asians, and Native Americans.....

Some progressives, desperate for signs of hope, look to the labor movement. King believed it was imperative to redesign the economy to protect workers and sought an alliance with labor leaders. He told the national AFL-CIO convention in 1961:
In the next ten to twenty years, automation will grind jobs to dust as it grinds out unbelievable volumes of production. This period is made to order for those who would seek to drive labor into impotency. . . . To find a great design to solve a grave problem, labor will have to intervene in the political life of the nation to chart a course which distributes the abundance to all instead of concentrating it among a few. The strength to carry through such a program requires that labor know its friends and collaborate as a friend.
....
Tragically, following King's assassination, most black political leaders were too fearful to follow his example. They retreated from building a multiracial movement for full employment. By the early 1970s, most accepted affirmative action—a far less costly strategy than full employment, created by the Kennedy and Johnson administrations to quell urban rioting and appease elites—rather than befriending and collaborating with other minority groups and poor whites in the service of transforming society....


--
June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmC6zwodLBtjPW9r%3D3Z-Ou2D%2BmZf-Nk8kQv%3D7x9jtmZpnw%40mail.gmail.com.

Thursday, January 12, 2023

[NJFAC] Beat the Press - Big Victory on Retirement Income in Omnibus Spending Bill

Good discussion of new bill, including pointing out the benefits of a state strategy:

"The passage of the Secure Act 2.0 provisions is also a vindication of the state-by-state strategy that progressives have been pursuing for the last quarter century when action at the national level seems blocked. This has been done with increases to the minimum wage, paid sick days and family leave, support for child care, and a number of other areas."

Since coming to Washington more than three decades ago, I have spent much of my time working on retirement income. The biggest part of that story was defending Social Security, which leaders in both parties were anxious to cut. This defense was largely successful, as the efforts to privatize it in the 1990s and under President Bush were beaten back, and the efforts at cuts often focused on the annual cost of living adjustment, were similarly derailed.
...

Big Victory on Retirement Income in Omnibus Spending Bill

Dean Baker, December 24, 2022
Since coming to Washington more than three decades ago, I have spent much of my time working on retirement income. The biggest part of that story was defending Social Security, which leaders in both parties were anxious to cut. This defense was largely successful, as the efforts to privatize it in the 1990s and under President Bush were beaten back, and the efforts at cuts often focused on the annual cost of living adjustment, were similarly derailed.
Defending Social Security was crucial, both because tens of millions of people depend on it for most or all of their income, but also because it was a model social program. The administrative costs are minimal, with the total program's costs coming to less than 0.6 percent of annual benefits, with the costs of the retirement program alone coming to less than 0.4 percent of benefits. By comparison, the fees from private 401(k)s run in the neighborhood of 15 to 20 percent of annual retirement benefits.
 
     Read More    

Contrary to What the NYT Tells You, the Problem in An Aging Society is Distribution

More Mind Reading at the NYT: Tells Readers U.K. Prime Minister, Rishi Sunak's Real Concern Is the Working Class

The NYT Doesn't Have Access to Census Data: We Do Not Have a Record Number of Renters

Quick Note on Minimum Age for Mandatory Retirement Fund Distributions

Industrial Policy Is Not a Remedy for Income Inequality

Real Consumption Rises as Inflation Decimates People in Joe Biden's America

alt_text

Dean Baker, Senior Economist

Dean Baker co-founded CEPR in 1999. His areas of research include housing and macroeconomics, intellectual property, Social Security, Medicare and European labor markets. He is the author of several books, including Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer.
    Learn More    
alt_text

Support CEPR

If you value CEPR's work, support us by making a financial contribution.
    Donate    


--
June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmCkzAF48H8kZ0s7PBd9feZZ3zriE61MHT-rr%3DfjdtQTnQ%40mail.gmail.com.

Friday, January 6, 2023

[NJFAC] WSJ: Your Coworkers Are Less Ambitious; Bosses Adjust


Your Coworkers Are Less Ambitious; Bosses Adjust to the New Order For a growing number of professionals, the days of unpaid overtime and working through weekends are in the past. Firms add people to finish projects, close for holidays and take other steps. and Dec. 31, 2022

Where have all the go-getters gone? 
At law firm Nixon Peabody LLP, associates have started saying no to working weekends, prompting partners to ask more people to help complete time-sensitive work. TGS Insurance in Texas has struggled to fill promotions, and bosses often have to coax staffers to apply. And Maine-based marketing company Pulp+Wire plans to shut down for two weeks next year now that staffers are taking more vacation than they used to.

"The passion that we used to see in work is lower now, and you find it in fewer people—at least in the last two years," says Sumithra Jagannath, president of ZED Digital, which makes digital ticket scanners. The company, based in Columbus, Ohio, recently moved about 20 remote engineering and marketing roles to Canada and India, where she said it's easier to find talent who will go above and beyond.

Since the onset of the pandemic, several employees have asked for more pay when managers asked that they do more work, she says. "It was not like that before Covid at all," she adds.

Many white-collar workers say the events of the past three years have reordered their priorities and showed them what they were missing when they were spending so much time at the office. Now that normalcy is returning, even some of the workers who used to be always on and always striving say they find themselves eyeing the clock as the day winds down, saying no to overtime work or even taking pay cuts for better work-life balance.

The reduced ambition can leave companies needing more people to do the same amount of work, something that ultimately could be a drag on American economic productivity. And bosses are openly considering the ramifications. Comments by Home Depot Inc. co-founder Bernie Marcus that "nobody works, nobody gives a damn," with possible implications for the future of capitalism, in the Financial Times spread quickly this week. A spokeswoman for the retailer said: "Bernie Marcus retired from The Home Depot more than 20 years ago and does not speak on behalf of the company."....

In a November survey of more than 3,000 workers and managers by software firm Qualtrics, 36% said their overall career ambitions had waned over the past three years, compared with 22% who said their ambition had increased. Nearly 40% said work had become less important to them in the past three years, while 25% said it had grown more important, according to researchers at Qualtrics, which provides software to businesses to evaluate customer and employee experiences.

Even in hard-charging fields like law and finance, where all-nighters aren't uncommon, some professionals are objecting to the grind. A group of first-year analysts at Goldman Sachs Group Inc. complained to bank leaders last year that they were working an average of 95 hours a week and that job stress had harmed their physical and mental health. Goldman, in response, said it would hire additional bankers and more strictly enforce boundaries around working hours. In an American Bar Association survey of nearly 2,000 members this year, 44% of young lawyers said they would leave their jobs for a greater ability to work remotely elsewhere.....



--
June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmB%3DLwh4G9NRg_tkw60gV_FTPbnjm1c%2Bw2wtHqmw9tVAUg%40mail.gmail.com.

[NJFAC] Average CEO Will Make More in a day Than an Average Workers in an Entire Year


On the First Workday of the New Year, the Average CEO Will Make More Than an Average Workers Earns in an Entire Year by Sarah Anderson December 27, 2022

If the typical CEO of a large U.S. corporation clocks in at 9 am on January 2, by 3:37 pm that afternoon he'll have earned $58,260 — the average annual salary for all U.S. occupations.
In other words, in less than seven hours on the first workday of the New Year, that CEO will have made as much as the average U.S. worker will make all year.


--
June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmCQRbjmP_K8sa_R1hgeFJyUeY%2BXb%2Bb7t-7o30Uj1Ws4xA%40mail.gmail.com.

Sunday, December 18, 2022

[NJFAC] The missing workers who are never coming back


The missing workers who are never coming back

Data: Federal Reserve; Chart: Rahul Mukherjee/Axios
Federal Reserve chair Jerome Powell struck a particularly somber note at his press conference earlier this week when he mentioned that one reason the labor market is so tight right now is that many workers died from COVID-19.
The big picture: Economists have theorized for a while about the impact of COVID deaths on the labor market. Now, research has started to emerge and key public figures like Powell are starting to talk about it explicitly.
  • "Close to a half a million who would have been working ... died from COVID," Powell said while talking about the U.S. labor shortage.
  • Go deeper: In a footnote to a speech he gave on Nov. 30, Powell estimates that 400,000 working-age Americans died in excess of what was anticipated pre-pandemic.
State of play: Compared to pre-pandemic projections, there are around 3.5 million people effectively missing from the American workforce, as Powell explained in that speech at the Brookings Institution.
  • This number includes older workers who left the labor force earlier than expected. "These excess retirements might now account for more than 2 million of the ... shortfall," he said.
  • The other 1.5 million comes from a decline in immigration and "a surge in deaths."
  • Overall, 1.09 million Americans lost their lives to COVID-19, according to Johns Hopkins data.
💭 Our thought bubble: The role these deaths play in the economy often gets overlooked, possibly because it's so devastating to contemplate.
  • But when considering the state of the U.S. workplace, it's worth remembering that many Americans lost colleagues, friends and loved ones over the past few years. It's a toll that will take many years to understand and lifetimes to grieve.


--
June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmCbVSedAxMfs7pHH1aqO9jHt6-e_WC7Oh2DxEvNM74FUA%40mail.gmail.com.

Friday, December 9, 2022

[NJFAC] Long Covid is distorting the labor market

Long Covid is distorting the labor market — and that's bad for the U.S. economy  Dec 8 2022 Greg Iacurci@GregIacurci


Key Points
  • Long Covid is affecting how Americans work. Some are unable to work at all due to symptoms of the chronic illness.
  • The overall labor impact of long Covid is tough to quantify. Estimates suggest hundreds of thousands to millions may be out of work, at a time when there are historic levels of job openings.
  • It is likely underpinning dynamics contributing to inflation. Meanwhile, lost earnings might translate to reduced household spending, or mean that patients must lean on public assistance programs funded by taxpayer dollars.....

    The midpoint of her estimate — 3 million workers — accounts for 1.8% of the entire U.S. civilian labor force. The figure may "sound unbelievably high" but is consistent with the impact in other major economies like the United Kingdom, Bach wrote in an August report. The figures are also likely conservative, since they exclude workers over age 65, she said.

    "Mild symptoms, employer accommodations or significant financial need can all keep people with long Covid employed," Bach said. "But in many cases, long Covid impacts work."....

June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmDm653JWPCmE9Wpf9VtuHChbSqzswoqwxLn%3DrCv77z-5A%40mail.gmail.com.

[NJFAC] Persistent Inflation - and the Non-Partisan Fed--James Galbraith





Two days after the midterm elections in the United States, the Financial Times reported that US inflation has slowed, markets are "giddy," and the Federal Reserve may now ease up on its interest-rate hikes. The timing was strategic, given that the push from oil prices ended in June, and that overall price changes have been low since July. With the election over, it seems, now it is safe to admit the facts....

America's central bank is dominated by partisan Republicans from the business class – in financial circles, at the regional Federal Reserve Banks, and on the Federal Reserve Board, where Democratic presidents habitually reappoint Republican chairs – as Bill Clinton did with Alan Greenspan, Barack Obama with Ben Bernanke, and Joe Biden with Powell. Democrats who serve are habitually non-partisan – or hard-liners projecting an image. The result is that pressure for tight policies hits harder when Democrats are in power than when Republicans are.....
 
--
June Zaccone
National Jobs for All Network
http://www.njfac.org

--
This list is only for announcements, so you may not post. To contact the list manager, write to junez [at] njfac.org
---
You received this message because you are subscribed to the Google Groups "goodjobs" group.
To unsubscribe from this group and stop receiving emails from it, send an email to goodjobsforall+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/goodjobsforall/CAPV%3DhmATcz7ebuvAdowBRmZbjtMUDEbnMyyJ-1q_1BCAywY-5Q%40mail.gmail.com.