In The Class of 2013 young graduates still face dim job prospects. For the fifth consecutive year, new graduates will enter a profoundly weak labor market and will face high unemployment and underemployment rates and depressed wages. In this report from the Economic Policy Institute, the authors show how the Great Recession and its aftermath have harmed young workers’ current job and earnings prospects. They also detail the long-term consequences, including reduced earnings, greater earnings instability, and more spells of unemployment for at least the next decade. But here’s what the authors won’t tell you.
Currently, the 1 percent steal via their plutocrats in public office about 32 percent of all the income produced in the USA, up from 8 percent thirty-three years ago, and that is growing. That leaves less money for the rest of to buy things that produce jobs, like cars and food. Meanwhile, the 1 percent invest in redistributing more income from the 99 to the 1 percent, like purchasing the favors of politicians such as Wall Street Senators Ron Wyden and Orrin Hatch. Why are jobs in such short supply? Look no further than Wyden and Hatch. They’re the tip of the legislative ice berg when it comes to redistributing income from the 99 to the 1 percent. It’s called corruption.
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