News for hackers. Stuff that matters.
Re:The Fed plans to sharply boost unemployment by jmoak3 on Sunday September 25, 2022 @11:01AM (#32971968)
Wages are too high, because our entire economy is built on the backs of available race to the bottom international labor.

Demographics and the security situation is changing this, and the establishment (for better and worse) is absolutely freaking out.

The world as we have lived it the past 30 years cannot exist if people doing labor can command a decent wage by USA standards, we’re going to have to recalibrate for a while

Re:The Fed plans to sharply boost unemployment by MonkeyMalarky on Sunday September 25, 2022 @11:22AM (#32972202)
That's why you import labour en mass, pay them less and kick them out when you're done with them. At least that seems to be my country's solution? Literally a permanent underclass of temporary foreign workers propping up parts of the economy.
Re:The Fed plans to sharply boost unemployment by givemeethekeys on Sunday September 25, 2022 @01:16PM (#32973518)
If by your country you mean, Singapore, then yes. It works because foreign exchange is likely in Singapore's favor. People who come can be indentured servants and help out a lot of people back home. At some point though, the tide begins to turn and you have to find new sources of cheap labor. But, what happens when the sources run dry?
Re:The Fed plans to sharply boost unemployment by csomar on Sunday September 25, 2022 @10:07PM (#32978538)
The world is big and never seems to be running of countries going bankrupt or going into chaos. You'll always find new people. Also, Africa just opened the gates for tons of new labor.
Re:The Fed plans to sharply boost unemployment by rightbyte on Sunday September 25, 2022 @02:51PM (#32974656)
Qatar would be the prime example?
Re:The Fed plans to sharply boost unemployment by givemeethekeys on Sunday September 25, 2022 @03:38PM (#32975177)
Definitely - some of the Arab countries - Qatar, Kuwait, the UAE.
Re:The Fed plans to sharply boost unemployment by onlyrealcuzzo on Sunday September 25, 2022 @11:29AM (#32972276)
Or we could just automate more and innovate, instead of spending most of our time & energy & capital on leveraged speculation that the Fed will continue to endlessly pump up asset prices...
Re:The Fed plans to sharply boost unemployment by toomuchtodo on Sunday September 25, 2022 @12:07PM (#32972727)
The gains would just go to the wealthy without efforts to secure more of the gains for the broad working class. This is as true for the Waltons and old money as it is for your run of the mill unicorn founder.

I’m really excited to see the organizing efforts taking place in the US; without them, these workers won’t be able to secure better wages, better quality of life, and a seat at the table with the business. The CEO would just go buy yet another yacht (the CEO of Starbucks is worth $4B and owns a $120M mega yacht, for example).

Re:The Fed plans to sharply boost unemployment by UtopiaPunk on Sunday September 25, 2022 @12:29PM (#32972976)
As an anti-capitalist, I would love a society where everyone benefited from unpleasant jobs being automated away. However, under capitalism, only the owners will benefit. That's because automation turns labor into property. That means the owners of property, capitalists, benefit.

If the value of automation were distributed differently it'd be great. If workers owned a company such as in a worker-cooperative structure, then the workers would be happy to focus less on stuff they don't like and focus on different things. Or a strong state could impose taxes on highly automated industries to fund a kind of universal basic income. But under our status quo, automation benefits the capitalists much more than the general population.

Re:The Fed plans to sharply boost unemployment by onlyrealcuzzo on Sunday September 25, 2022 @03:58PM (#32975392)
We have a 5000+ year history of automation creating jobs, not destroying them.

Any jobs displaced will result in a multiple of new jobs created with the new opportunities it unlocks.

Re:The Fed plans to sharply boost unemployment by LadyCailin on Sunday September 25, 2022 @08:51PM (#32978125)
Surely this doesn’t last forever, no? Even if it does, if the rate of job automation is so quick that there’s no way for new workers to be trained before the job becomes obsolete, then it’s effectively unscalable?

I’m not saying we’re in a post-scarcity situation yet, by any means, but it seems inevitable that if humanity continues in the same general direction, it’s only a matter of time before it happens. At which point, such a discussion is unavoidable.

Re:The Fed plans to sharply boost unemployment by prepend on Sunday September 25, 2022 @12:38PM (#32973069)
> That's because automation turns labor into property. That means the owners of property, capitalists, benefit.

I think customers also benefit. If a janitor costs $100/day and that’s automated away to a robot with $20/day costs that $80 will be passed on to the customer (just like every other technology innovation).

Re:The Fed plans to sharply boost unemployment by edmundsauto on Sunday September 25, 2022 @01:51PM (#32973945)
Potentially; another possible outcome is that $60 is passed to ownership and $20 passed to consumers. Companies these days are pretty aware of how price conscious their customers are - they aren't going to lower pricing based on cost unless there is strong reason to (competition is the only one I can think of... but it looks to me like companies compete less these days due to a variety of factors, including brand loyalty and monopolistic behaviors).
Re:The Fed plans to sharply boost unemployment by prepend on Monday September 26, 2022 @08:34AM (#32982302)
That’s possible but due to the great invisible hands that created an opportunity for competition to come in with a lower price. There are many factors so it really depends.

But automation has really benefitted customers through lower prices and higher quality so it’s hard to expect that these robots would result in owners pocketing the savings over previous robots.

Re:The Fed plans to sharply boost unemployment by edmundsauto on Wednesday September 28, 2022 @08:35PM (#33014967)
Automation has made cars higher quality, but I'm not sure it has made clothing better, or food. What it does do is create the cheapest options possible, edging away on quality to have a cost reduction. Whether consumers benefit from favoring quantity over quality is not clear, but "consumers" are also "workers" and are harmed in that way by automation too.

It's complicated.

Re:The Fed plans to sharply boost unemployment by echelon on Sunday September 25, 2022 @12:04PM (#32972692)
Some of those on /r/antiwork seem to expect to build careers from McJobs and Starbucks. Instead of seeing these as part time jobs for high school and college students, their expectations are that these jobs can support an apartment rent in a big city without roommates. These types of complaints seem irrational or misguided.

Many of their complaints do seem grounded in truth, however. America's low hanging fruit blue collar jobs have moved to developing nations. The automotive industry doesn't have as many jobs paying what it used to.

There doesn't seem to be a lot of talk for the trade skill pipeline, which has me curious: why not?

Both plumbing and electrical work pay decently and offer a high degree of autonomy, yet these aren't hyped. Nursing can be learned at night school. Not everything requires a college degree or "book smarts".

There has to be something more at play, because the middle class is hollowing out. Maybe not enough of these jobs to go around? Or maybe that middle class can never be as big as it once was during the post war boom years that saw American manufacturing leading the world. Maybe every country gets fifty years tops before that crown moves on.

They're also not wrong in complaining about asset appreciation. Unaffordable housing and rent. These are real pressures. "Cheap housing" doesn't seem like a bone we can throw.

What do we do for these folks that can't get white collar work?

Re:The Fed plans to sharply boost unemployment by BlargMcLarg on Sunday September 25, 2022 @12:54PM (#32973271)
Blue collar shortage in a non-US area. Here, you're not getting the big bucks until you have quite a few years underneath your belt. Additionally, you'll have to be self-employed.

That's what people are complaining about. The hurdles are higher and more frequent than before. It's still there, but having your first home at 35 is vastly different from having it at 25. My friend group is filled with people privileged enough to work lucrative white collar jobs, and it's still a massive challenge despite earning more than 90% of all households.

Now imagine what happens when blue collars get saturated again. They can't beat white collar work during or after 25-35 without going off the beaten path, while white collar is struggling.

Cherry on top: households are getting less while doing more work per household.

Re:The Fed plans to sharply boost unemployment by echelon on Sunday September 25, 2022 @01:17PM (#32973535)
What's the fix for this?

America won't be regaining its 1940's unilateral industrial superpower status again.

Do we just say that the Silent and Boomer generations were a fluke?

Do politicians that promise to redistribute wealth get elected?

Does automation really save us? Or lead to greater inequality?

Re:The Fed plans to sharply boost unemployment by AnimalMuppet on Sunday September 25, 2022 @02:26PM (#32974357)
> Do we just say that the Silent and Boomer generations were a fluke?

Yes we do, because yes, they were a fluke. The question is, can we re-create conditions approximately that good (without bombing the rest of the planet back to the stone age)? I must admit that I don't see a way to do so.

Re:The Fed plans to sharply boost unemployment by randomdata on Sunday September 25, 2022 @04:18PM (#32975650)
> Now imagine what happens when blue collars get saturated again.

The downward pressure on their compensation will see the cost to build new homes come down and thus the market will trend towards affordable again? After all, like all things, the cost of a used home is a function of the cost of a new home.

Re:The Fed plans to sharply boost unemployment by perfecthjrjth on Sunday September 25, 2022 @05:14PM (#32976334)
Well, in HCOL areas, the land costs more than the labor charges.
Re:The Fed plans to sharply boost unemployment by randomdata on Sunday September 25, 2022 @08:24PM (#32977959)
In total, but you're building denser so the per-resident cost ends in a similar ballpark.
Re:The Fed plans to sharply boost unemployment by prepend on Sunday September 25, 2022 @12:41PM (#32973105)
> There doesn't seem to be a lot of talk for the trade skill pipeline, which has me curious: why not?

I think it’s because these jobs are “hard” in that they require more than a day of training and you can’t use your phone at work. There’s a weird habit with people I know that since they can get $15/hour working at a McJob that doesn’t challenge them physically or mentally that it’s “good enough.”

Long term planning is required to learn to weld and make $45/hour.

Re:The Fed plans to sharply boost unemployment by thunky on Sunday September 25, 2022 @04:00PM (#32975421)
> their expectations are that these jobs can support an apartment rent in a big city without roommates

Why shouldn't they? Somehow, with all of our progress, life gets more difficult.

Didn't it used to be possible for cashiers to support themselves?

Re:The Fed plans to sharply boost unemployment by koheripbal on Sunday September 25, 2022 @11:22AM (#32972210)
Calling it a "race to the bottom" is a bit ironic, when these jobs have been going to the world's poorest people and those in most need of a job.
Re:The Fed plans to sharply boost unemployment by jmoak3 on Sunday September 25, 2022 @11:28AM (#32972268)
Race to the bottom, as in the price of labor was racing to the minimum. Not really ironic, people with little other opportunity will be the happiest to work for the least.

I’m not prescribing right or wrong to the situation, just what is

Re:The Fed plans to sharply boost unemployment by smoldesu on Sunday September 25, 2022 @11:31AM (#32972292)
You pass off your dirty work to the most desperate players, and the frugal companies even resort to using political prisoners and children as laborers. These companies aren't saviors, they're accutely aware of the living conditions and actively exploit it.
Re:The Fed plans to sharply boost unemployment by afpx on Sunday September 25, 2022 @11:40AM (#32972396)
These jobs allow something like 60-100M households escape poverty every year. That's a good thing for everyone (except the Earth).
Re:The Fed plans to sharply boost unemployment by starkd on Sunday September 25, 2022 @12:27PM (#32972954)
Economic activity is not inimical to humanity. Not in and of itself. That's a terrible way to think of your fellow man and our relationship to nature.
Re:The Fed plans to sharply boost unemployment by afpx on Sunday September 25, 2022 @01:46PM (#32973881)
Believe me, I'd love it if people cared for nature. But, people tend to choose having kids and keeping those kids out of poverty before they choose nature. And, having kids requires economic activity, unfortunately.

I didn't create the system. Someone started this ball rolling 10k years ago.

Re:The Fed plans to sharply boost unemployment by starkd on Sunday September 25, 2022 @01:56PM (#32973996)
Well, having kids is kind of important. Essential even.
Re:The Fed plans to sharply boost unemployment by salawat on Sunday September 25, 2022 @12:13PM (#32972811)
At the price of perpetuating bottom dollar exploitive business models that could only exist in the abscensce of strong labor protections, qnd the export of negative externalities to the greater fool.

The wotld as a whole does not benefit from this arrangement.

Re:The Fed plans to sharply boost unemployment by starkd on Sunday September 25, 2022 @12:24PM (#32972928)
Raising wages to a "decent wage by USA standards" is meaningless if you also spark more inflation.