[Marxism] The Harsh Reality of Job Growth in America | Reports from the Economic Front

Louis Proyect lnp3 at panix.com
Wed Dec 18 06:21:10 MST 2019

The current US economic expansion, which began a little over a decade 
ago, is now the longest in US history.  But while commentators celebrate 
the slow but steady growth in economic activity, and the wealthy toast 
continuing strong corporate profits, lowered taxes, and record highs in 
the stock market, things are not so bright for the majority of workers, 
despite record low levels of unemployment.

The fact is, despite the long expansion, the share of workers in 
low-wage jobs remains substantial. To make matters worse, the share of 
low-quality jobs in total employment seems likely to keep growing. And, 
although US workers are not unique in facing hard times, the downward 
press on worker well-being in the US has been more punishing than in 
many other advanced capitalist countries, leaving the average US worker 
absolutely poorer than the average worker in several of them.


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