HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Jobless Claims in U.S. Fa... » Reply #12

Response to uawchild (Reply #6)

Thu Oct 15, 2015, 01:43 PM

12. What does this data say to you?

To me it speaks of production which requires less human employment. Hardly a genius level insight admittedly, but one that asks a bigger question than pay rates.

Who should retain the financial productivity of a robot or integrated ERP system? The genius engineers who built it? The plutocrats who wrote the 7-9 figure checks for it? As long as either work OR capital is the means to income, it's certainly hard to say it should be allotted to the worker bees whom it replaced.

Your earlier productivity chart is not driven by machinists or stock pickers or accounting clerks magically doing manifold times the work. It's driven by automation doing it for them. I'm old enough to remember when it took someone like me (at the time a data analyst) days to run. for example, an inventory projection for next year's budget. Now it takes seconds. Heck it doesn't take me at all; it takes a clerical person to run the macros in Excel or the Crystal Reports update or the BW query I wrote many moons ago and was long paid for. Jobs like that went away, or morphed into higher level analysis done by far fewer, highly-educated specialists who needed not just data facility but business acumen and broad experience. The same goes for the guys who used to do what CNC machining centers or guided warehouse management systems do now.

Median income won't keep up with productivity because the things being productive don't get any income at all. Until we decouple site-based hierarchical employment from income (which let's be honest is decades at the very least into the future) there is no point comparing the two, and we must stick to median income alone as a measure of how QOL is explained.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 28 replies Author Time Post
Historic NY Oct 2015 OP
FBaggins Oct 2015 #1
uawchild Oct 2015 #2
Recursion Oct 2015 #3
uawchild Oct 2015 #4
whatthehey Oct 2015 #5
uawchild Oct 2015 #10
Recursion Oct 2015 #11
uawchild Oct 2015 #19
whatthehey Oct 2015 #13
Recursion Oct 2015 #7
uawchild Oct 2015 #6
Recursion Oct 2015 #8
JackRiddler Oct 2015 #14
Recursion Oct 2015 #15
uawchild Oct 2015 #17
uawchild Oct 2015 #20
whatthehey Oct 2015 #21
JackRiddler Oct 2015 #24
whatthehey Oct 2015 #28
uawchild Oct 2015 #16
whatthehey Oct 2015 #23
JackRiddler Oct 2015 #25
whatthehey Oct 2015 #27
LineLineLineLineReply What does this data say to you?
whatthehey Oct 2015 #12
winstars Oct 2015 #9
Jimbo S Oct 2015 #18
IronLionZion Oct 2015 #22
CentralMass Oct 2015 #26
Please login to view edit histories.