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Old 12-22-2016, 12:57 PM
 
4,189 posts, read 3,859,488 times
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Quote:
Originally Posted by Coldjensens View Post
Maybe some of the people who have left the job market and are no longer considered unemployed, will decide to go back to work.
The U6 number for Michigan in the 3rd quarter was 10.6% That's just a hair higher than the national average and lower than several states. That's a sign that the "a lot of people have just given up" mantra is more of a myth.
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Old 12-22-2016, 01:10 PM
 
Location: Grosse Ile Michigan
27,784 posts, read 65,753,528 times
Reputation: 32993
Quote:
Originally Posted by mjlo View Post
The U6 number for Michigan in the 3rd quarter was 10.6% That's just a hair higher than the national average and lower than several states. That's a sign that the "a lot of people have just given up" mantra is more of a myth.
What I see in reality is a lot of people have given up on finding a full time job over $10/hour. Hopefully Amazon will offer full time positions. That is the biggest problem. $15/hour is not a living wage if you work 21 hours a week.

This is a good thing to know. I will let my daughter know she is looking for a job. Maybe she can get in early.
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Old 12-22-2016, 01:12 PM
 
Location: Ann Arbor MI
2,116 posts, read 1,360,479 times
Reputation: 2910
Quote:
Originally Posted by Geo-Aggie View Post
If Amazon starts paying their warehouse employees $20/hr and their stock tanks by 30% because of it, the <1% of my 401k balance made up of Amazon shares would be a worthy sacrifice for a healthier liquid economy. My 401k balance won't make its way into the economy for 30-40 years (and if yours will, you should be saving more in bonds). Inflating my 401k balance for exponentially increasing corporate bonuses and career-investor purposes isn't as important to me as the wages of my neighbors. I save in a 401k because someday I'll be old and Americans are terrified of collectivism, so I will need to supplement my income in order to live. Investing purely for passive wealth or "residual income" has been one of the most harmful things to happen to America in the last 100 years.
One post ago you saw a bigger picture and now you reduce it to a smaller picture for convince. " runaway capitalism and corporate greed make ever-increasing investor profits a priority" isn't just an Amazon thing. What if your entire 401K tanks 30% for the next 30-40 years because its actually bigger issue than just Amazon? And as to "exponentially increasing corporate bonuses and career-investor purposes" as I said before 65% of Amazon "career investors" are guys like you. And Amazon at 65% is not overly high.

can you clarify what you mean by "Investing purely for passive wealth or "residual income" has been one of the most harmful things to happen to America in the last 100 years."? Sorry but it seems a little ambiguous to me and I don't want to assume something your not intending.
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Old 12-23-2016, 05:06 PM
 
Location: Metro Detroit
1,786 posts, read 1,941,009 times
Reputation: 3554
To bring this back around to the topic at hand, as we're definitely getting in the weeds here, a warehouse distribution job like this would have provided a stable, comfortable middle class income 30 years ago. Today, for a stable family, one would almost certainly need two full-time incomes of this nature.

This is unfortunate and likely unnecessary. Our productivity ability per capita has increased since then, yet consumption is further limited for many Americas due to concentration of wealth in order to create the situation where the wealthiest Americans obtain incredible returns on investment by limiting returns to workers. The middle class and upper middle class Americans turn their collective heads because we want our minor share holdings to increase too, because retirement is now almost entirely privatized. If seeing my retirement balance grow more slowly over the next 30 years meant less wage stagnation and greater security for working class Americans, I'd be all for it. I would happily work a few years longer, or live a life with slightly fewer luxuries.

I would love nothing more than to see a warehouse job like this provide a relatively stable life for 1,000 of my neighbors, even if that meant my entire portfolio of mutual funds stayed stagnant or decreased.
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Old 12-24-2016, 11:46 AM
 
Location: Ann Arbor MI
2,116 posts, read 1,360,479 times
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Fair answer.... I appreciate the thought in your response.
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Old 03-30-2017, 12:58 PM
 
Location: Metro Detroit
1,786 posts, read 1,941,009 times
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I'm reviving an old topic here, but I had a fun little anecdote about this occur yesterday while meeting with city leadership from Livonia. This property came up in our conversion and it was asked how residents of Livonia felt about the development. They all agreed that overall sentiment of the development was positive and a lot of people were excited about it, but that neighbors nearby were not thrilled. It was also asked if this was due to increased trucking traffic through the area but we were informed that it's the nearby warehouses/manufacturers that aren't happy, due to their inability to hire anyone as Amazon is scooping up everyone looking for work there. The nearby companies are having to raise their wages or look out of state.

I won't interpret that for you, but I figured it'd be of interest to some readers here.
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Old 03-30-2017, 11:33 PM
 
Location: Detroit
3,671 posts, read 4,815,281 times
Reputation: 2629
Quote:
Originally Posted by Geo-Aggie View Post
I'm reviving an old topic here, but I had a fun little anecdote about this occur yesterday while meeting with city leadership from Livonia. This property came up in our conversion and it was asked how residents of Livonia felt about the development. They all agreed that overall sentiment of the development was positive and a lot of people were excited about it, but that neighbors nearby were not thrilled. It was also asked if this was due to increased trucking traffic through the area but we were informed that it's the nearby warehouses/manufacturers that aren't happy, due to their inability to hire anyone as Amazon is scooping up everyone looking for work there. The nearby companies are having to raise their wages or look out of state.

I won't interpret that for you, but I figured it'd be of interest to some readers here.
Good, raise those wages. I love when a new job center makes it's competition step it's game up because people no longer have to work for a mediocre wage. If you don't want to pay people what their worth, you deserve to have a high turnover rate.
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Old 03-31-2017, 08:28 AM
 
Location: Grosse Ile Michigan
27,784 posts, read 65,753,528 times
Reputation: 32993
Unfortunately they are looking only for people with 5 or more years of experience and some of the jobs (most?) are not full time.
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Old 03-31-2017, 08:32 AM
 
Location: Chicago
944 posts, read 849,731 times
Reputation: 1121
Yeah, and Amazon warehouses generally have a bad reputation for working conditions and work-life balance.
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Old 03-31-2017, 11:10 AM
 
2,173 posts, read 2,825,466 times
Reputation: 2104
Speaking from experience, I wouldn't put much stock in what the Livonia political establishment has to say about anything.
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