Maybe, um, this is why unemployment is so high?
Maybe, um, this is why unemployment is so high?
Companies are squeezing greater profits out of their employees, even as layoffs rise and the outlook for hiring and raises remains mixed, a recent study has found.
Profits per employee have gone up for the second year in a row, according to a study by the financial analysis company Sageworks, suggesting that companies continue to get more out of their employees as they slash their payrolls in an effort to get leaner. The findings also suggest that profits have been rising despite the lack of a corresponding increase in wages.
The private companies surveyed by Sageworks reported that their profits per employee climbed to $15,278.72 in 2011 from $12,488.02 in 2010, a rise of about 22 percent for the year. The figures for 2010, in turn, represented an increase of about 24 percent from the 2009 profits per employee, which were $10,045.56.
Oh, heck....who am I kidding? It's all Obama's fault.
In a just-barely-related matter, are you really annoyed by bloggers like me who always write things like "um" and "you know" in their posts? The New York Times tells me it's all the fault of late novelist David Foster Wallace.
Comments (89)
- ASV, that's insulting to children. Most children are capable of learning. Liberals, on the other hand....
— GWR - I recommend to all the movie Inside Job which shows in a very clear manner how the present economic fiasco happened. Everyone should be required to see this movie.— prenestino
- Liberals are easily swayed by left-wing propaganda movies. There was Fahrenheit 911. Oscar Winner. An inconvenient Truth. Oscar Winner. Gasland. Oscar Nominee. Try reading a few books instead of letting other people tell you what to think and becoming an expert on complex issues in less than 2 hours. — tr88
- ===}}} Bunch...wake up....unemployment is high because American industry has zero confidence in our "historically" anti- business/ anti free market President {{{===
Yes, indeed. In the past, companies have always decided hiring policies on the basis of who was in the oval office, right?
--snip--
Since 1928 there have been 13 president, 7 Republicans (Hoover, Eisenhower, Nixon, Ford, Reagan, Bush Sr, and Bush Jr) and 6 Democrats (FDR, Truman, JFK, Johnson, Carter and Clinton).
Six of the seven Republican Presidents had unemployment increase while in office. Ronald Reagan is the only Republican President since 1928 to leave office with a lower unemployment rate.
All six Democratic Presidents had unemployment decrease or stay the same while in office. The worst Democratic performance was Jimmy Carter, who had the same unemployment rate when he left office as when he entered.
Viewing the President's 4 year term gives an even more pronounced effect.
Of the Repubilican President's 9 terms, unemployment has increased in 7 of the 9 terms.
Of the Democratic President's 10 terms, the unemployment rate never increased.
--snip--
Oh. Wait.
So that means that up until 2008, hiring was uncorrelated with who was in the Oval Office, but once Obama was elected, you know, a president with a history of "anti-business, anti-free market" beliefs, it is now correlated.
You boyz are hilarious.— Talking point sleuth - How do you feel about GE closing down it medical imaging group and moving it to China? Guess the head of Obama's job creation exploratory team knows where to go to get away from his poor economic policies and practices. If he can drive out one of his most ardent supporters, guess the rest of us have no choice but to trust in him, correct? — cb54
- Addressing a cost-of-business analysis (which underlies GE's decision to move to China) is a red herring response to TPS's post. His point is still unchallenged. — evolutionary
- ===}}} and the domestic business environment is smothering our free market including too much regulation, taxation, oversight, mandates and interference.... {{{===
Gotta say - that comment's also a work of beauty.
I mean, clearly, all those banking regulations - after poorly regulated banks led us into a depression, and after the enacted regulations coincided with decades where we reached world economic preeminence, only to see banking regulation diminished leading up to the current economic crises - proves that regulation just "smothers" our economy.
Too freakin' funny.
— Talking point sleuth - Well, tr88, there are liberals who started companies, Warren Buffet, Bill Gates, Ted Turner, but the conservatives won't listen to them because they don't like what they have to say. Now the conservatives are proposing a tax increase on people who make under 100k. I'm sure you'll all jump for joy with that. Hey, I'm all for electing Republicans at this point. It'll just speed up the downfall of capitalism. Speaking of which, has anyone checked out binary options? Yeah, that's what the economy has come to at this point. Way to go, free-market!— HandNik
- Doesnt Buffett lay workers off when he acquires other companies? How man yworkers does Bershire have overseas. Why do yo think that is? The king of outsourcing is MicroSoft. What do you propose besides capitalism? Failed Socialism? — tr88
- Nik, Berkshire was founded in 1839. Turner was staterted in 1970. MicroSoft in 1980. We need more of these great companies. It's 2011. Lean forward. — tr88
Comment removed.- Also, GWR, which party is trying to institute 1920s economics plans. Talk about not learning. You just don't have the data to back up your accusations.— HandNik
- Good news: Employers are getting $12,000+ profit per employee in today's economy. Bad news: Those employees are in India, China and Brazil.— DonQ
- You do have to feel bad for Conservatives as they persist in creating elaborate alternative realities -- that takes energy and probably tuckers them out. Take, for instance, kelprod's insistence on continually describing a delusional reality where there is no confidence in Obama thats the reason we are still experiencing a deeply depressed economy. Meanwhile, the interest rate on the 10-year is just about zero -- which way would interest rates move if there was 'zero confidence'? Take another statement: 'A perfect example is Apple...now the largest American company in $$$'s'. Who even know what "$$$'s" means (or why theres an apostrophe). Maybe its revenue? Any way you slice it, the statement is thoroughly incorrect. Of course the economy is experiencing an output gap. Strangely Obama is not taking a cue from the wondrous success of all those business tax cuts as part of the 2001 JGTRRA and 2003 EGTRRA packages and cutting taxes further! You can be certain that somewhere on the Laffer curve far below where we are now there is the optimal tax rates --- far below where we are, far below...(sarcasm intended).— Murrayman
- Comment removed.
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