We’ve been uneasy about the state of the national economy for – well, pretty much the whole decade. In recent years some of the normal leading economic indicators look good, but underneath we note the persistence of termites chewing away at the foundations.
Recommended Sunday reading today has to do with one of those batches of termites: The steady transition from well-paid to low-paid work. A Seattle Times analysis says that “Observers suggest several reasons for the shift toward lower-paying new jobs: the long-term move away from manufacturing toward services; higher-wage jobs being outsourced overseas; and workers in a globalized economy having less leverage to negotiate raises. . . . In any case, working full time in an in-demand occupation no longer guarantees financial stability — particularly in a pricey area such as central Puget Sound.”Share on Facebook