Employment and Social Impact

by Scott Email

Today’s announcement of unemployment rates for March has reminded me of an issue I wrote about a few years ago concerning work ethic and income. Today, the Associated Press reported:

Unemployment zoomed to 8.5 percent last month, the highest in a quarter-century, as employers axed 663,000 more workers and pushed the nation’s jobless ranks past 13 million. The hard times were only expected to get harder — a painful 10 percent jobless rate before long.

The current rate would be even higher — 15.6 percent — if it included laid-off workers who have given up looking for new jobs or have had to settle for part-time work because they can’t do any better. That’s the highest on record for that number in figures that go back to 1994.

In my paper, which was a rudimentary exercise in academic social research, I criticized an earlier article by Barry Bluestone in which he cites 10 primary reasons for income stratification. My primary criticism was that Bluestone ignored an important factor– work ethic. You can download a copy of my paper, “The Impact of Work Ethic on Income,” here.

Today’s unemployment report reminded me of this paper, because it raises yet another important factor– the economy at large. It would be interesting to research how an economic recession affects income stratification.


6 comments

Comment from: sewa mobil [Visitor] · http://griyamobilkita.webs.com
Nice article, thanks for the information.
02/22/11 @ 01:24
Comment from: Becky Hayes [Visitor] · http://www.cannibalcapitalism.com
“This is typical of the type of Cannibal Capitalism going on in this country. What I am really afraid with the high levels of unemployment is that the collapse of the mortgage market, the attrition to the middle class will only accelerate. The loss of household wealth will have far reaching effects as families that would have been able to buy a house will be caught in an endless “rent trap” of perpetuall¬y rising costs, no equity, and no end. Goodbye suburbs, hello tenements. This fear was mention earlier this week in the New York times article "Without Loan Giants, 30-Year Mortgage May Fade Away " by Binyamin Applelbaum¬. Then backed up by Michael C. Hill who has written "Cannibal Capitalism".”
03/24/11 @ 20:55
Comment from: buy oem software [Visitor] · http://oemsoftware.insanejournal.com/
The moment I saw your blog was like wow. Thank you for putting your effort in publishing this site.
04/22/11 @ 09:27
Comment from: Jay Moody [Visitor] · http://www.CapitalismSaves.com
This is a good post. Your paper was also pretty right on. I think that as much as work ethic, there is the educational lack that helps prevent people from understanding how to behave financially to avoid poverty. I’m speaking from experience here. Once I understood the roles of saving, investing, and compound interest – my work ethic improved.
07/01/11 @ 16:13
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10/04/11 @ 20:24

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