Loading ...That there is typical gov’t media info. The “story” implies that the problems of today are from the 2008 meltdown. And a so called weak recovery. The trend of less work for Americans started all the way back around 1975.
By 1980 the Gov’t was blaming the United Auto worker union for the inflation or high prices from de-pegging the Dollar in ’71. The workers were only getting raises that kept up with higher prices.
Plus because we made all our own consumer products, plus Korea and Vietnam “products” plus we were producing moon landing products, and guess what???
If you were employed in manufacturing? THERE WAS AN ENOUMOUS SHORTAGE OF LABOR!!!!! You could quit your job and get another at higher pay in about a hour.
The “business man” together with gov’t help (tax incentives exchange rates) put a stop to that by outsourcing. To help businesses profit, and create more middle class people in third world nations.
All the way back in 1980 James Dines predicted a deflation in wages here because of using Indian and Chinese labor.
The Media always tells people about the results, things they already noticed. The Media will NEVER tell you what I tell you. The CAUSE. Why talk about symptoms?? Or very old news?