More Jobs does not bring Down the Cost of Living
News Anchors and wealthy right-wingers are celebrating the new jobs numbers and the low unemployment rate, calling them historic and unprecedented, in an attempt to set the stage for a Trump second term. But anyone with a real brain and not a media-washed one knows that having a job does not change the cost of living.
People have two jobs and still cannot afford to live a decent life. The things needed to actually survive in this country are very expensive and out of reach for many working people. Healthcare, college tuition, a home or car purchase, and even food and clothing can become a struggle for some. Do not even think about saving money.
Having a job is vital in society today and even if you have a good job paying decent wages, you cannot afford to get sick, have a car accident or miss a rent or mortgage payment. You literally need a cell-phone, car insurance, daycare for single parents, and other hidden expenses exacted on working people like bank fees, traffic violations, and any and all late fees for whatever bill is late.
"From 2008 until 2018, premiums for employer-sponsored insurance plans increased by 55 percent, growing twice as fast as workers' wages. The size of average deductibles also ballooned by an alarming 212 percent."
We are talking about credit card debt, student loan debt, and healthcare medical bill debt. To stay attuned to what is happening around you, you need Internet access at home, a streaming service and a good data plan on your $800 phone you will never payoff. Fast and junk food plague our bodies, medications leave us docile and kids take the rest of whatever disposable income we have. And forget about a vacation.
So when the news anchors and so-called expert economist brag about the jobs numbers and unemployment rate, they are not passing on good news that will help anyone because when a person gets a job they are faced with the reality of paying for a life that is extremely expensive.
They never reveal the fact that even if there was zero unemployment, the cost of living will rise as a result of over-employment.
"When practically everyone has a job, employers have trouble finding workers they need to keep growing their businesses. Employers have to raise wages to attract new hires or keep the workers they want. People get paid more, which means demand for goods increases, which can feed inflation. The increased wage costs can also push prices up. Higher inflation and lower unemployment means the Federal Reserve is more likely to raise rates, which itself can put the brakes on the economy."
The answer to the struggle for working families is to reign in Wall Street, Banks, and greedy corporations that drain the working people (with jobs) of their hard earned dollars. That means raising wages to meet the cost of living and protecting workers and consumers from the oppression of the wealthy.