Economy & Jobs

I'm not too up on the agreement between Walmart and Labor about opening a 2nd WalMart store in Chicago but Progress Illinois is reporting that part of the deal is a $8.75/hr. starting salary and then an increase of 40-60 cents after the first year.

From their 'About Us' page:

The Good Jobs Chicago Coalition (city-wide religious and community coalition) advocates for the importance of quality jobs to stabilize and grow our communities. The Good Jobs Coalition is made up of community partners with a commitment to responsible growth and corporate accountability.

http://goodjobschicago.org/

Senate votes no on world's most stingy stimulus bill. Erza points out that with close to 10% unemployment, maybe deficit reduction isn't the most important thing:

There'll come a time when we need to start reducing the deficit. If we can get the economy back into gear, that time might even be soon. But for now, increasing the size of the deficit isn't some nasty side effect of stimulus spending. It is, quite literally, the point of the enterprise.

Not a big deal but Kimbriell Kelly, editor of The Chicago Reporter, rattles off this cheap shot as her contribution to 'losers of the month' on WBEZ's 'Month in Review: Winners and Losers in May Headlines':

With all the economic turmoil happening in Greece and other European countries, it's interesting that no one is thinking of the potential fallout on the political side of the ledger. If the Great Depression of the '30s has anything to teach, it's that awful economic conditions can have absolutely toxic political consequences.

How far we have fallen from the glory days of the Fall of Communism — mostly due to Greenspan/Rubin style laissez-faire economics.

The strangest thing about these economists is the assumption that if we just ignore this problem, things will be fine and dandy socially speaking -- rather than the far more logical outcome that things won't be pretty in America (to say the least). You screw people over long enough and they're bound to strike back in very unpleasant ways.

David Leonhardt's article "Judging Stimulus by Job Data Reveals Success" got a lot of play on a number of blogs. People might be interested in hearing him discussing the issue today on the Brian Lehrer Show (WNYC).

When the chips are down, it's nice to know where people stand on the minimum wage.

Ya think so?

While the fear of having cards shut down and anger over the moves banks have made can't be easily measured, there's anecdotal evidence that those emotions played into the improvement as well.

I do hope the undergrads at Berkeley get someone who's a better liberal than Brad Delong so that they get some perspective.

The guy is nothing but a mouthpiece for Rubin/Geithner -- has been since his days in the Clinton Admin.