Obama and the economy

[woodsrider]

More Good news:

 

The rally was broad, with more than three-fourths of stocks listed on both the New York Stock Exchange and Nasdaq ending higher. Materials, financials and industrials - groups tied to the pace of economic growth - led with gains of more than 2 percent, giving the Dow index its biggest daily gain in two months and helping the Nasdaq advance to its highest since 2000.

 

Wall Street closes at multi-year highs on ECB, data | Reuters

So next week when it's down 4 straight days is that bad news?

[Know It All]

o By 1900 2/3 of Americans worked for hourly wages at jobs that required 10 hour days, six days a week.

 

Are you implying that is too much? Do workers make the conscious decision of working specifically at that job?

[2 Humped Camel]

So next week when it's down 4 straight days is that bad news?

 

It must be hard to try and dismiss all good news. It's at the highest point in 12 years and you look for the negative. To answer your question I guess that would depend on how far down.

[woodsrider]

It must be hard to try and dismiss all good news. It's at the highest point in 12 years and you look for the negative. To answer your question I guess that would depend on how far down.

Calm down. It was just a question, nothing more, nothing less.

[Hatz]

Are you implying that is too much? Do workers make the conscious decision of working specifically at that job?

 

I guess my implication would be the work conditions of the era versus today's work conditions with government regulations.

 

BTW, thanks for the citing of sources.

[Know It All]

I guess my implication would be the work conditions of the era versus today's work conditions with government regulations.

 

BTW, thanks for the citing of sources.

 

I was on my phone. Here you go:

Hours declining in manufactoring

 

 

Comparing the two is irrelevant.

 

2/3 of Americans worked for hourly wages at jobs that required 10 hour days, six days a week.

 

^Which part of that is wrong? Americans working 60 hours a week? or that amount of people working 60 hours a week?

[Hatz]

I was on my phone. Here you go:

Hours declining in manufactoring

 

 

Comparing the two is irrelevant.

 

 

 

^Which part of that is wrong? Americans working 60 hours a week? or that amount of people working 60 hours a week?

 

Thanks for the link.

 

I'm not sure about the word "wrong." It's a conjecture as I read the article.

 

1. The article states the problems with determining historical work patterns based on incomplete data.

 

2. Then the statement of the decline of work week hours is made but I would almost add the shift had as much to do with the rise of organized labor as it did the "free market" issues.

 

3. Finally, I think a factor missing in the article is where all this is going in the future. This article deals greatly with manufacturing but many people are working more than one job and more than the 40 hour work week of the last 40 years and making less money. With manufacturing as we know it in his country fading and morphing into higher tech manufacturing, and fewer jobs needed here - I think there is every chance that the work week hours will increase in the future.

 

Thanks for the article it was a very good read.

[Know It All]

Thanks for the link.

 

I'm not sure about the word "wrong." It's a conjecture as I read the article.

 

1. The article states the problems with determining historical work patterns based on incomplete data.

 

2. Then the statement of the decline of work week hours is made but I would almost add the shift had as much to do with the rise of organized labor as it did the "free market" issues.

 

3. Finally, I think a factor missing in the article is where all this is going in the future. This article deals greatly with manufacturing but many people are working more than one job and more than the 40 hour work week of the last 40 years and making less money. With manufacturing as we know it in his country fading and morphing into higher tech manufacturing, and fewer jobs needed here - I think there is every chance that the work week hours will increase in the future.

 

Thanks for the article it was a very good read.

 

No problem. Three studies all relatively close in conclusion. But plenty of factors played in to work hours declining. Toward the latter part of the century organized unions played a more significant role. Now, whether that made a change for the better is always debatable.

 

But there was a demand for a lot of work, the market was growing immensely and workers were compensated as a result. More so than any other time in history.

 

The industrial revolution is not a good example at exposing the burdens of a free market. There was overwhelming growth from the economy as a whole. Workers had made the conscious decision to work long hours in tough conditions.