Monday, January 30, 2006

 

Another Reason To Dislike This Area

Nice to see that Ottawa County, MI - home to yours truly - ranked a healthy 302nd of 316 counties in the latest salary growth survey from the Bureau of Labor Statistics. The average growth in gross wages was 2.44%, or a lovely -3.26% when adjusted for inflation.

I'm not sure, then, who the hell is buying all the McMansions that are springing up all over the place, but I'm sure those folks are busy patting each other on the back over the nice job they've done keeping down wages.

Oh please oh please oh please, can we get that lovely Toyota engine plant that's being rumored? No, probably not, and once Delphi goes tits-up and the Coopersville injector plant gets closed, I'm guessing that things will only get worse.

Comments:
Well, I am sure our respective employers will use this as ammunition to keep wages flat. Overall, for the country real wages were up 0.7986%.
Actual salaries rose 6.74%. This would seem to indicate the article assume 6% inflation over two years...not sure if that number is accurate.
For Michigan, the average was 4.32% actual, -1.49% real. Welcome to the new Mississippi.
 
"tits-up"? what the heck does that mean? man, your language is whack! ;)

-mrs. oberon
 
My language is totally non-whack. Now, had I said "Tango Uniform", that would have been whack.
 
I fear it will only get worse. Dephi first, GM then Ford. Suppliers spiraling into bankruptcy. Lots of fun yet to come.

Regarding the McMansions, I think cheap credit (ARMS, neg-amort, etc) convincing a lot of people to get into the largest house they can afford. Those things will be unsellable in 5 years. Just image the costs to reroof and replace windows at 15-20 yrs. People are betting on appreciation and continuing overtime (jobs?).

All I can say is if things seriously tank, the self destructive UAW, the self serving mangement, clueless politicians and every other leach who has been sucking the tit of the auto industry for 70 years can stare at my pale white ass as I leave this state.
When I moved here I loved that auto industry, today, alas, the bloom is off the flower. There are far too many people in Michigan who believe it is their birthright to a job that pays twice the median US wage for high school skills. Too many politicians that fund votes on the back of the business taxes from a once rich industry. Finally, there are too many managers (I reserve the word leader for real men), who have no vision and take safe mildly losing bets over risky bets that might create new wealth.
arrggh! Bad Monday.
 
Inflationdata.com gives an inflation rate of 2.68 for 2004 and 3.39 for 2005.
 
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