The Power of BIG Oil

[MiloMorai]

GDP is not just in the USA but in every country.

[Spikes]

It is an issue of people not wanting to work. Because they make more money staying at home getting handouts. Or did.

So what are the folks who used to make more money but no longer make more money on unemployment doing now since they aren't working?

[fuzeman]

Big Oil just a subdivision of Big Money.

[-gg-]

So what are the folks who used to make more money but no longer make more money on unemployment doing now since they aren't working?

I'm not sure what they're doing. All I know is that there are lots of jobs that cannot be filled now that we're normally taken by lower wage earners. Like fast food restaurants. I went to a Wendy's the other day and it was a note on the door that the showroom was closed because they didn't have anybody to work. Only the drive-thru was open. A sign out front said they were hiring people to flip burgers for $17 an hour. And I see that all over the place. Those used to be $6 an hour jobs.

[Arlo]

I don't watch him but obviously you do

Eagler

Obviously I've seen clips. Alas, Eagler, your post seemed reminiscent of what he broadcasts to his devoted. Glad you're not one of them.

[Arlo]

I'm not sure what they're doing. All I know is that there are lots of jobs that cannot be filled now that we're normally taken by lower wage earners. Like fast food restaurants. I went to a Wendy's the other day and it was a note on the door that the showroom was closed because they didn't have anybody to work. Only the drive-thru was open. A sign out front said they were hiring people to flip burgers for $17 an hour. And I see that all over the place. Those used to be $6 an hour jobs.

Your Wendy's has a 'showroom?' 

[Spikes]

I'm not sure what they're doing. All I know is that there are lots of jobs that cannot be filled now that we're normally taken by lower wage earners. Like fast food restaurants. I went to a Wendy's the other day and it was a note on the door that the showroom was closed because they didn't have anybody to work. Only the drive-thru was open. A sign out front said they were hiring people to flip burgers for $17 an hour. And I see that all over the place. Those used to be $6 an hour jobs.

What have people been doing since 2007 when the minimum wage was less than $6/hr?? Crazy that they have survived 15 years on all that Covid stimmy money!

[-gg-]

What have people been doing since 2007 when the minimum wage was less than $6/hr?? Crazy that they have survived 15 years on all that Covid stimmy money!

There was no labor shortage then. It will probably end soon though.

A lot of people were living off of extended unemployment benefits since covid put the brakes on a lot of jobs, especially restaurant workers. Whatever it is you believe, the fact is that wages being offered are higher and many people are not going back to work.

[-gg-]

The simple fact is that people must have a bit of a cushion of money saved if they do not need to work. The extended benefits, covid relief checks coupled with no rent and no evictions for at least a year. Yeah, people had some extra cash and didn't need to work.

What else could it be? Just no longer need to eat?

lol

[Chalenge]

Read (reread "1984").

"Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it."
–George Orwell, 1984

[Eagler]

Some will never go back to work as the covid pause allowed them to see that after expenses they weren't making/clearing the money they'd thought they were and with a few adjustments now stay home and watch Wendy and the view ..

Eagler

[TheBug]

What's the current unemployment rate?

[Spikes]

Some will never go back to work as the covid pause allowed them to see that after expenses they weren't making/clearing the money they'd thought they were and with a few adjustments now stay home and watch Wendy and the view ..

Eagler

How are they doing that though with no job and no extra COVID bonuses?

What's the current unemployment rate?

Bingo! Probably fake news though.

[Eagler]

You have the unemployment rate and you have the labor force ...

https://en.m.wikipedia.org/wiki/Labor_force_in_the_United_States#:~:text=The%20labor%20force%20is%20the,pandemic%20in%20the%20United%20States.

Something else that was at a record high just before covid...imagine that

Eagler

[-gg-]

so there's a huge labor shortage- near record levels. There are 2.7 million less people working today than before the pandemic. The labor force is short 900,000 more jobs than before.

So Spikes, where do you think those people who decided to quit get their money from? All just retired?

The government causes a good portion of this by giving out all the checks, suspending evictions and extending unemployment benefits. Why would you work when the government is giving you more money than you were making before? That was exactly the case for a lot of people.

Now the extended befits are over - but Biden now wants to cancel student loans. lol. Just keep pouring free money at people and wonder why we have a labor shortage.

On the other hand, wages for a lot of jobs really are too low. Even though wages are ten percent higher than before the pandemic, in a lot of cases they are still too low.

There's also the gig economy. I know people who do little side businesses. There's a huge gig economy that's kind of under the radar.

Bottom line, people are getting an income somehow, some way.