The Disappearing Middle Class

I just read a disturbing article. For many years our factories and big businesses have moved out of the US and set up in other countries to save money. This has caused our American middle class workers to compete for jobs with people on the other side of the world where there is no minimum wage and few regulations. Those cheap prices we expect and enjoy at the big supercenters is part of what is wiping out our middle class. Here are some of the statistics the article cited. Please read the article for yourself.

http://finance.yahoo.com/
tech-ticker/the-u.s.-middle-class-is-being-wiped-out-here%
27s-the-stats-to-prove-it-520657.html
?tickers=^DJI,^GSPC,SPY,MCD,WMT,XRT,DIA

Here are some of the statistics:

61% of America live paycheck to paycheck

66% of the income growth between 2001-2007 went to the top 1% of all Americans

Over 1.4 million Americans filed for personal bankruptcy in 2009-a 32% increase from 2008

In the US the average federal worker earns 60% more than in the private sector.

In America today, the average time to find a job is 35 weeks.

For the 1st time in US history, more than 40 million Americans are on food stamps.

American workers are competing and losing jobs to outsourcing: in China a garment worker makes 86 cents an hour; in Cambodia, they make about 22 cents an hour. That makes our workers too expensive to hire.

Despite our financial crisis-the number of millionairs in the US rose to 7.8 million in 2009 an increase of 16%

Bottom line? Our big industries and corporations are moving out of the US because our US work force is too expensive. There are now 6 unemployed Americans for every job opening. Most people finding jobs make less money than they used to. I don’t know what the answers are but this is disturbing. We’ve wondered why times were so hard. This article explains a lot.

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About estherlou

My husband and I married in 1970. I am the mother of 2 and grandmother to 5. I am a retired wedding cake decorator. I like watching Netflix on the Wii. I am catching up on all of the old tv shows I missed when they were on prime time! Right now though, I am reading and writing blogs, watching tv, making jewelry and rosaries, selling in my Etsy store and playing solitaire. I am home bound and add in my physical therapy exercises to my daily routine. I will blog about my progress or anything that catches my attention at that moment. See you around and thanks for stopping by!
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One Response to The Disappearing Middle Class

  1. Catherine says:

    Before I was laid off at my last job, my entire department was disbanded so they could let the plant in Mexico take care of that area of fabrication. It was the most labor intensive part, so they had been trying to get it out of our plant for years. I moved departments before it was completely gone, which gave me about 3 more months of work. Those who stayed until the last machine was pulled out got laid off immedietly.

    We buy practically everything from other countries, and stuff we do make comes from factories we build in other countries. Then we have to borrow money to help our own people who can’t find jobs, or to pay for people who are here illegally. How can this cycle be stopped?

    Very depressing stuff!!

    Like

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