Quote Originally Posted by 313WX View Post
Yes and no.

Although 250,000 jobs have been created since the last recession, nearly 1 millions jobs were lost during the last recession. So we're still at a net loss. It would take at least another 5 years of this same tepid rate of recovery to get back to where we were before 2007-2009, let alone back to the era of "money growing on trees" during the 1990s.

This is assuming no additional increase in the size of working-age adults, no further offshoring/outsourcing of jobs due to cost cutting and no additional recessions [[which would all be unwise assumptions to make IMO).



Well sure, not ALL of them are ill-paid. Not ALL politicians are crooks either.

The issue is most of the jobs lost during the last recession WERE good-paying and secure with benefits, while most of the jobs that have been created in the wake of the last recession have been insecure and low-paying with no benefits.

Remember American Axle and Manufacturing? At one time, thousands of very happy UAW workers earning $20/hr+ with Cadillac health care benefits worked at their HQ in Hamtramck [[because actually AAM was once a subsidiary of the once largest company in the world, General Motors). When the bottom fell out in the 2007-2009, instead of negotiating a new contract with these workers, AAM decided to close shop entirely and move to Mexico to pay foreigners cents on the dollar to manufacture their goods. The UAW workers at the Hamtramck all subsequently lost their jobs, and no more of these jobs were being created for folks who would be entering the work force in Michigan

Several years later, they've brought SOME investment back to Michigan and have hired 600 extremely desperate people. The problem? The jobs only pay $10.50/hr in 2015 dollars and no longer offer Cadillac health care benefits. And despite the laughable compensation they're getting paid, these workers still forced to join the UAW because of a contract in place until 2017.

http://www.marketwatch.com/story/the...pay-2013-08-20



Furthermore, at least 1/3 of these jobs created since the last recession are temporary or from self-employment. Out of these temp/self-employment positions, only 7% become direct hire. On average, these jobs are only paying $25K per year...

http://www.freep.com/story/money/bus...ment/20941729/

These people of course are scared to death of spending the little income they're earning [[which also prevents a true economic recovery) because they know their jobs won't be around long and they're not even making enough to cover their bills. That's not a sustainable way to build a healthy economy.

Now, is it good that, the economy has stop shrinking for a bit? Absolutely. But at the same time, I'm not going to put on blinders and assume happy days are here again either. The glory days aren't coming back, and I'm just being brutally honest in that unless you're content with having a far lower standard of living and quality of life than your parents and grandparents had in Michigan, it's not a bad idea to get out now.
The question isn't whether Michigan is, relative to other states, a lot poorer than it was 40 or 50 years ago. There is no doubt that is true. The median Michigander might even be poorer now than 40 years ago on an absolute basis, at least if you look strictly at real wages. Our differences are not on that point.

You seemed to be claiming three things:

1) That staying in Michigan was tantamount to martyrdom.

2) That there had been no improvement since the bottom of the recession.

3) That another recession is imminent.

I don't agree with 1), but I guess that is a matter of opinion. 2) is wrong, for the reasons I gave. 3) is also a matter of opinion, but your supporting argument about GE losing money isn't correct, because that is just accounting for money they lost long ago and does not reflect current conditions. 3) will no longer be matter of opinion in eight months or so, and perhaps we can revisit this at that time.