In Reply to: Re: not good for the US posted by Inmate51 on December 20, 2006 at 06:12:04:
"Why then is the unemployment rate at only 4.7% if all those jobs are going to China?"Because of the shift of the US job base from manufacturing to retail. The bad news is that the average retail worker makes half what the average factory worker used to. The good news is that what cost $300 five years ago costs only $100 today. It's easy to live on less if everything costs less. The monkey wrench in the works is that retail typically has minimal health benefits, if any. But at the rate things are going industry won't be able to afford health care costs either.
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Follow Ups
- Re: not good for the US - Bill Fitzmaurice 06:46:56 12/20/06 (0)