The More Things Change, the More They Stay the Same

Posted: Jul 13, 2013 12:01 AM

In 2008, we learned that the analysts from Wall Street who were touting the wonderful benefits of mortgage investments had actually been saying one thing to the mainstream media and doing another — thus becoming the proverbial talking heads.  If you took their advice, the best investment you could have made was to purchase subprime mortgage paper.  Unfortunately, we now know the truth and those same financial analysts undoubtedly became the pariahs of Wall Street.  Therefore, had we all done what they said as opposed to what they did, we would have found ourselves in deep trouble — very much like it is right now regarding the circumstances of the American worker.  

We can observe and analyze all the various surveys that are currently reporting the increased enthusiasm of the American worker, yet if that was truly the case, we would start to see those same workers switching jobs with some degree of frequency.  Thus, as it now stands, the truth is certainly miles and miles away from those so-called accurate surveys.  Most people are fully aware that for every one job, there are 10 to 15 people eagerly waiting in line to obtain that job.  Therefore, people who are currently employed can profess that everything is fine, declaring they have the ability to move from one job to another, but that’s simply not the reality of the situation.  If truth be told, those who are currently employed are definitely locked into their current jobs.  The ultimate fear of not finding something as good as what you already have is certainly the dominant theme of the American labor scene today.  Therefore, contrary to what the media and the legislators would have you believe, the actual American worker is providing a much better picture of what is really happening in the workforce.       

Sometimes the grass is truly greener on the other side of the fence.  But as we’ve been discovering for quite some time, that grass now appears to be neither watered, fertilized, cared for, nor well managed.  The history of the American worker has been to move from one job to another job.  However, contemporary reality clearly demonstrates that the days of readily changing jobs are long gone.  Indeed, simply having a job could be the most significant factor in the world today.