Monday, September 7, 2009

Labor On Labor Day



(click on images to enlarge)

TW: Strikes are not the only metric by which labor union power can be measured but they are a significant one. Strikes are passe and certainly will remain so during this Great Contraction. Public support for unions is plummeting. Why I am not sure. Scapegoats? As union membership declines folks do not relate? They are evil entities? Finally the graph showing private sector employment shows that we are on the verge of a jobless decade. Zero net new jobs being created in the private sector for the first time in American history. We created 19MM in the 1990's as context. And no the rapacious government is not sucking up all of the job oxygen either, non-private jobs have grown but only about 2MM the smallest increase in decades (and those were mainly teachers and a couple hundred thousand "Homeland Security" folks).

I am not reflexively pro- or anti- union, no more than I am similarly inclined towards say rapacious Wall Streeters, obnoxiously arrogant business management, or self-interested small business persons etc. Unions have done many good things yet leave significant room for improvement. So do many economic actors.

http://www.ritholtz.com/blog/2009/09/total-10-year-job-gains-negative-203k/

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