CEOs, upper management, and financial professionals made up about 60 percent of the richest 1% of Americans in 2005. Only 3 percent were entrepreneurs. A recent study found that less than 1 percent of all entrepreneurs came from very rich or very poor backgrounds.The biggest investment by corporations is overseas, where they keep 57 percent of their cash and fill their factories with low-wage workers.
Commerce Department figures show that U.S. companies cut their work forces by 2.9 million from 2000 to 2009 while increasing overseas employment by 2.4 million.
In fact, the very rich may not care about U.S. jobs in any form. Surveys reveal that 60 percent of investors worth $25 million or more are investing up to a third of their total assets overseas
. Back home, the extra wealth created by the Bush tax cuts led to "worst track record" for jobs in recorded history.
How the "Job Creators" REALLY Spend Their Money
Speaking to a House of Commons committee, Poloz suggested young Canadians and others struggling to find work should acquire more experience through unpaid internships or volunteering until the country's hobbled job market picks up.
"If your parents are letting you live in the basement, you might as well go out and do something for free
to put the experience on your CV."
The controversial issue of unpaid internships has been under scrutiny since Andrew Ferguson, a student in Alberta who was interning at a radio station, died in 2011 while driving home after a 16-hour day.
Statistics Canada's latest job numbers said the unemployment rate for people aged 15 to 24 was 13.5 per cent in September, almost double the country's overall jobless rate of 6.8 per cent for the same month.
Bank of Canada governor draws fire for suggesting students should work for free to get experience
The Canadian Press Posted: Nov 05, 2014
[...] in industry after industry, speedups are turning work into a hazard
, with increasing numbers of injuries and dangerous levels of stress. While 18.6 million people remain underemployed, millions of others are working more hours, and more intensely, than ever. This is especially true in certain industries, from oil refineries to retail to publishing, where federal data shows labor productivity has risen at double or more the national rate. A 2010 survey of people registered with Monster.com found that 53 percent of respondents had taken on additional duties since the start of the recession because co-workers had been laid off—almost all of them without any additional compensation
. A 2010 report from the Center for American Progress and the Hastings Center for WorkLife Law found that overwork was a particular problem among professionals: 14 percent of women and 38 percent of men were working more than fifty hours a week. But it has become common in industrial occupations as well.
Since they couldn’t keep up with the line when someone took a bathroom break, supervisors responded by simply denying break requests. “There are people who would pee in their pants,” he told me, “because they didn’t give them permission to go.”
Everyone talked about popping enormous doses of Tylenol
; some talked about pressure so intense it left them depressed. “The Speed Kills You,” a 2009 report from the nonprofit organization Nebraska Appleseed, was based on a survey of 455 meatpacking workers; it cataloged a range of injuries, from cuts, falls and fractures to musculoskeletal and repetitive-strain injuries, attributed mainly to “uninterrupted line speed.”
The BP oil spill in the Gulf of Mexico in 2010 was caused, in part, by intense production pressures that had entire crews working twelve-hour shifts without a single day off for weeks on end...
“There are so many nurses on Xanax, Ativan or antidepressants” ...
Americans Are Working So Hard It’s Actually Killing People
By Esther Kaplan