Biggest decline in US productivity in 74 years

[floridafan]

My daughter worked contracting at Microsoft before she became an employee....she told me that of every dollar microsoft paid the contracting company they kept about 25 cents for profits and running their bureaucracy. Thing is at the time it was about the only way to get into the company entry level, they were not willing to hire anyone without getting a good long look at them first, because it is so expensive to get rid of people. She looked at it as wage theft, but had no options.

Just how would your "daughter" be privy to that kind of information? Did she have a seat at board meetings?

 

[Hawkeye10]

not fast enough but thats improving.

People wise up eventually, pain always works....eventually.

 

[T. A. Gardner]

Thats exactly why the Biden economy has brought back all the jobs that trump lost, and we still have so many positions available to fill. How quickly you pretend to forget the economic disaster we had in Trumps final years. Is there any wonder why he lost by 7 million votes?

Wrong. The jobs that returned were simply ones that stopped / were put on hold during the various lockdowns. The economy has hardly grown at all since Joke took office.

 

[floridafan]

Wrong. The jobs that returned were simply ones that stopped / were put on hold during the various lockdowns. The economy has hardly grown at all since Joke took office.

Unemployment was never this low even in the best of trumps year. next excuse?

 

[T. A. Gardner]

Unemployment was never this low even in the best of trumps year. next excuse?

And, the employment rate is the lowest ever too. That is, unemployment is low only because people have stopped looking for jobs rather than people are fully employed.

 

[floridafan]

And, the employment rate is the lowest ever too. That is, unemployment is low only because people have stopped looking for jobs rather than people are fully employed.

you are just making shit up, as usual.

 

[T. A. Gardner]

you are just making shit up, as usual.

You are an idiot incapable of doing even the simplest research. Instead, like a vulture, you simply vomit up whatever the talking heads on MSNBC or CNN spew for you to ingest.

https://tradingeconomics.com/united...source: U.S. Bureau of Labor Statistics 1Y 5Y

Below trend: the U.S. productivity slowdown since the Great Recession

https://www.bls.gov/opub/btn/volume...tivity-slowdown-since-the-great-recession.htm

 

[Celticguy]

My daughter worked contracting at Microsoft before she became an employee....she told me that of every dollar microsoft paid the contracting company they kept about 25 cents for profits and running their bureaucracy. Thing is at the time it was about the only way to get into the company entry level, they were not willing to hire anyone without getting a good long look at them first, because it is so expensive to get rid of people. She looked at it as wage theft, but had no options.

I did contract work for many years. The money is good as long as the contracts keep coming. Its been pretty solid in tech for quite a while but thats changing in this downturn. Tech will be hit hard as its become such a dominate market.

 

[Hawkeye10]

I did contract work for many years. The money is good as long as the contracts keep coming. Its been pretty solid in tech for quite a while but thats changing in this downturn. Tech will be hit hard as its become such a dominate market.

What I hear about tech is that there is a current big push to run it with cheap often not American labor.....that as we watched happened to so many industries labor takes it in the ass.

Is this true?

 

[Celticguy]

What I hear about tech is that there is a current big push to run it with cheap often not American labor.....that as we watched happened to so many industries labor takes it in the ass.

Is this true?

they've been at that for decades with mixed results. works for Microsoft and other big boys who compartmentalize well. its a disaster for smaller ones.

but the problem is that as real businesses have to cut spending they will postpone upgrading their tech and try to survive making whatever they make. automation is a backend results process that people wont be able to afford. and that makes the hits on tech companies very sharp and leading edge pain.

good news is that may tale more time for new releases to Windows and whatever they call Apple's OS. of course they will still be buggy as hell.... lol

 

[Walt]

Seems the economy is tanking and we have the Democrats and Joke to thank for it. FJB!

A negative blip in productivity is actually a good thing, while a positive blip in productivity is a very bad thing. When a company closes one of two factories, they close the less productive factory, so you see a positive blip in productivity. When a company builds a new factory, it takes time to start producing, so you see a negative blip in productivity. So a negative blip would mean we are growing.

Now if productivity is negative for more than a year, that is a real problem.

 

[Walt]

a. welfare was large enough to just say no to working

Clinton's Welfare reform put a two year continuous cap on non-work benefits, and a five year lifetime cap on non-work benefits. That means you must get a job. Welfare is not that generous anyways.

b. unfilled can become non existent in the twinkling of an eye

Usually not. A position exists for a reason. You cannot just make it nonexistent.

c. when inflation on non-disposable household budgets devours all the disposable income

Inflation usually effects both income, and out flows.

 

[Walt]

My daughter worked contracting at Microsoft before she became an employee....she told me that of every dollar microsoft paid the contracting company they kept about 25 cents for profits and running their bureaucracy. Thing is at the time it was about the only way to get into the company entry level, they were not willing to hire anyone without getting a good long look at them first, because it is so expensive to get rid of people. She looked at it as wage theft, but had no options.

We recently were trying to hire a new graduate, but she was hired by Microsoft. She had no work experience, but a master's degree that was very interesting. The problem with the master's degree, unlike a PHD, is we had no idea what she specifically did on the team, so it was a gamble.

She was hired straight out by Microsoft at above $300k. We were coming in much lower, and lost out. Obviously, nowhere near a majority of hires, but there are a lot of hires that are wanted immediately.

 

[Walt]

You are an idiot incapable of doing even the simplest research. Instead, like a vulture, you simply vomit up whatever the talking heads on MSNBC or CNN spew for you to ingest.

When even your own charts show you are wrong, maybe you should stop attacking. In the real world, employment rates were generally below 58% before the late-1970's. With women joining the workforce, and then the growth of the 1990's, we saw employment rates rise up to above 64%. We all knew the Baby Boomers would retire, and push down those employment rates.

The primary group that has failed to return to the workforce is older people who have chosen to retire.

https://tradingeconomics.com/united...d 59.22 percent from,percent in April of 2020.

 

[Althea]

Productivity was rising until Joke took office. Now it's falling...

LOL

trump virus shut down productivity.

 

[Celticguy]

Clinton's Welfare reform put a two year continuous cap on non-work benefits, and a five year lifetime cap on non-work benefits. That means you must get a job. Welfare is not that generous anyways.



Usually not. A position exists for a reason. You cannot just make it nonexistent.



Inflation usually effects both income, and out flows.

different welfare for covid changes that paradigm.
when a business loses a contract they expected to get, FTE requests disappear quickly.
inflation is rising much faster than income in this particular recession.

 

[Walt]

different welfare for covid changes that paradigm.

Different unemployment, but the same old Welfare. Even if it were different Welfare, it would count against the lifetime limits.

 

[Celticguy]

Different unemployment, but the same old Welfare. Even if it were different Welfare, it would count against the lifetime limits.

nope

 

[Into the Night]

Seems people are working longer and producing less than ever...


https://news.yahoo.com/u-productivity-posts-biggest-drop-183309746.html

Seems the economy is tanking and we have the Democrats and Joke to thank for it. FJB!

There is a fair bit of this, thanks to the covid fear mongering by Democrats. Of course, there is also less people working at all. They would rather stay on welfare than work. Businesses being destroyed didn't help either.

All by Democrats.

 

[Into the Night]

however the use of contracted providers makes it very easy to cut costs.
going to be really bad times for those companies for a few years or more.
thats why its always better to work for companies that keep everything in-house.

Not practical.

A quarry company, for example, doesn't build it's own mining equipment or the tires for them, or the rock crushers, or the conveyor belts, or the screens, or the motors for them. It buys that stuff.
A power company doesn't make it's own wire, it's own towers, the insulators, the service transformers, or even the power poles alongside each road. They buy all that stuff.

So what company do you know that has everything house?