Would this indicate that the added jobs were more "blue collar" jobs while more "white collar" jobs are moving out? With more jobs but less pay especially with the new minimum wages, it would seem that the US is losing higher paying positions. Or is this an incorrect assumption on my part.

This is where it's a problem when politicians (and both parties do it in this case) rally so hard to protect old school manufacturing and fossil fuel energy sector jobs. Those jobs are trending away, and only ridiculously nationalist laws would even slow that down (while destroying the economy in other ways). The key for the US is being out in front on new technology and innovation - then the developing economies can pick up industries in later stages. That's the only way to see big time wage growth in this country, today.

 

I have a hard time believing that the US is seeing white collar jobs move out. Move out to where? The US financially has done much better than most countries globally. Places like China are taking away blue collar jobs by paying their workers sums less for same work. A loss in wage growth could mean the jobs created are paying workers less money to do same work prior. It's unlikely a loss in wage growth would be coming from the "white collar" jobs.

 

Also, it's not like Illinois is alone in rise in tuition. To whom are the peer universities you are comparing to?

Thanks. What would be the difference and is there a place to find the info? It is a topic of discussion at the university as it sure seems that the cost of education in Illinois is driving the college student out of Illinois and they aren't returning. This is just Illinois but it also grows into the topic for the US.

 

Also I asked Justin Wolfers about the negative wage growth and this was his response:

"One month down [doesn't] mean much. Over the past year, wages have grown, and wage growth is outpacing price growth "

 

i.e. real wages are up this year, so don't sweat january.

I have a hard time believing that the US is seeing white collar jobs move out. Move out to where? The US financially has done much better than most countries globally. Places like China are taking away blue collar jobs by paying their workers sums less for same work. A loss in wage growth could mean the jobs created are paying workers less money to do same work prior. It's unlikely a loss in wage growth would be coming from the "white collar" jobs.

 

Also, it's not like Illinois is alone in rise in tuition. To whom are the peer universities you are comparing to?

In this situation it's more with the flagship institutions for the state. U of I is becoming so cost prohibitive that many of the students are going to Iowa, Indiana and Purdue because even though it's out of state, it's cheaper than Illinois. Universities track them and most of them stay away from Illinois afterward. This is the driving force this past year to lower the scores for admission but more importantly financial aid for resident students.

Edited January 8, 201610 yr by ptatc

Also I asked Justin Wolfers about the negative wage growth and this was his response:

"One month down [doesn't] mean much. Over the past year, wages have grown, and wage growth is outpacing price growth "

 

i.e. real wages are up this year, so don't sweat january.

Thanks for the info. It's not really something that important. It was just a topic of discussion we had and when I saw the posted information, it picqued my interest.

Would this indicate that the added jobs were more "blue collar" jobs while more "white collar" jobs are moving out? With more jobs but less pay especially with the new minimum wages, it would seem that the US is losing higher paying positions. Or is this an incorrect assumption on my part.

 

Only 8000 manufacturing jobs created.

 

https://www.businesscycle.com/ecri-news-eve...time-employment

 

 

 

 

Thanks for the info. It's not really something that important. It was just a topic of discussion we had and when I saw the posted information, it picqued my interest.

 

http://finance.yahoo.com/news/stocks-tumbl...-210104458.html

 

This is a helpful article dissecting it.

wheeeeeeeeeeeee!

 

My accounts are nosediving. Not cool, guys.

wheeeeeeeeeeeee!

 

My accounts are nosediving. Not cool, guys.

 

Not the first time this has happened...won't be the last.

wheeeeeeeeeeeee!

 

My accounts are nosediving. Not cool, guys.

 

Moved my account from 70% stocks/30% bonds to 20/80 on January 4th. Still losing a lot but not nearly as much as it might have.

Interesting correction on its face for the CW pundits. Strong Dollar, Cheap Oil, China stumbling in bid to be #1 economy and...massive stock sell off.

 

US Economy continues to be dynamic as hell.

Interesting correction on its face for the CW pundits. Strong Dollar, Cheap Oil, China stumbling in bid to be #1 economy and...massive stock sell off.

 

US Economy continues to be dynamic as hell.

 

I really think this is just a big buying opportunity. The effect of China's economy on the US is a magnitude less than how we effect China's economy. They need us to survive. Because of their protectionism, we just don't have that deep of roots into them. Europe falling apart would be a way bigger problem than China.

I put in some extra cash this week. Nothing I can't lose.

All rallies should be sold......SPX broken....Wilshire 5000 Broken......Hope and Central Bank stimulus is not a strategy.......The debt in this world cannot and will not be paid back....

All rallies should be sold......SPX broken....Wilshire 5000 Broken......Hope and Central Bank stimulus is not a strategy.......The debt in this world cannot and will not be paid back....

I feel like I've been reading these same posts from you for, oh, a decade. You were right for a few months around 2007-2008 - at least about selling the rallies anyway.

 

I feel like I've been reading these same posts from you for, oh, a decade. You were right for a few months around 2007-2008 - at least about selling the rallies anyway.

 

Anyone that keeps making the same predictions on the market will eventually, however temporarily, be correct.

Haven't seen any news on this today..but Claypool said the CPS would sell bonds today to get them back on solid fiscal ground....LMFAO!!! Their best shot at survival is bankruptcy....Keep at it Rauner...you are doing exactly what is needed. After the CPS, the county and state should be next in line for Bankruptcy...

Haven't seen any news on this today..but Claypool said the CPS would sell bonds today to get them back on solid fiscal ground....LMFAO!!! Their best shot at survival is bankruptcy....Keep at it Rauner...you are doing exactly what is needed. After the CPS, the county and state should be next in line for Bankruptcy...

 

As someone who finances things for schools and municipalities nationwide, the effects of doing this would be horrible for everyone. Including those who aren't related at all to the city. (I.e. Borrowing costs for other munis)

The Obama Administration's crackdown on "inversions" and megamergers

 

This lead to the news earlier this week that the proposed $152B merger between Pfizer and Allergan was being called off

Average property tax bill for someone in the state of Illinois with a $200k house is $5340. That is the highest in the USA. In Indiana that same house would be $1550 in property taxes annually.

 

http://www.chicagotribune.com/business/ct-...0427-story.html

Average property tax bill for someone in the state of Illinois with a $200k house is $5340. That is the highest in the USA. In Indiana that same house would be $1550 in property taxes annually.

 

http://www.chicagotribune.com/business/ct-...0427-story.html

http://money.cnn.com/pf/features/lists/tot...axes/total.html

 

In fairness because we have found so many different ways to tax people a comprehensive approach to your tax burden is really necessary to compare. For example Texas does not have a state income tax, but some of our other taxes are higher. I would really love to see how a simple income tax only plan would look. No deductions, no shielding, no pre-tax moving, etc. Pay 0% up to the poverty level. X% from poverty to $X. X%+ over $X+, etc. Then no property taxes, no sales taxes, no hotel room taxes (I just spent an extra $23.00 in Austin for my room), no "sin" taxes, etc.

 

What I would really love to see is a reliable study of the cost effectiveness of various state governments. Which state's residents are getting the best value for their taxes. The amount of data that would be necessary and the level of analysis would be impossible to evaluate, but wow, how great of a tool would that be.

http://www.usatoday.com/story/money/market...leave/83722362/

 

Yahoo (YHOO) just disclosed the size of its executive pay packages and Marissa Mayer stands to make millions coming or going.

 

The CEO of the embattled online news site, currently trying to sell itself, is entitled to severance benefits valued at $54.9 million in case she is terminated without cause, according to a regulatory filing after the market closed Friday. The potential payout would also be triggered by a “change of control,” which includes the sale of the company, according to the filing.

 

Mayer’s potential payout includes cash severance of $3 million, $26,324 to continue her health benefits, $15,000 for outplacement, and — if that’s enough — nearly $52 million worth of accelerated restricted stock and options.

 

But wait. That’s just what Mayer gets if she leaves. Mayer was already paid $36 million in 2015 as her regular annual compensation. That total pay package was down nearly 15% from the prior year, but is still well above the median of roughly $12 million paid by executives in the Standard & Poor’s 500. Mayer was paid $42.1 million in 2014, making her the most highly paid female CEO in the S&P 500.

http://www.usatoday.com/story/money/market...leave/83722362/

Bbbbut we can't pay people $15 an hour

Hey, nice work if you can get it. I'll take 10% of that to continue riding Yahoo! into the ground for a few years.