A Quote by Jerome Powell
The longer workers are unemployed, the greater the likelihood that their skills will erode and workers will lose attachment to the labor force, permanently damaging the economy's dynamism and potential output.
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Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy.
Jobless workers, especially those out of work for months and years, don't have the skills to multitask in a fast-paced economy where medical workers need to know electronic record-keeping, machinists need computer skills, and marketing managers can no longer delegate software duties.
When illegal labor is used, that almost always depresses wages paid to all workers. The illegal workers can be exploited, and they will usually accept lower wages. As a result, all workers in the plant, including U.S. citizens, will see their wages go down.
The Social Security program is a pact between workers and their employers that they will contribute to a common fund to ensure that those who are no longer part of the work force will have a basic income on which to live. It represents our commitment as a society to the belief that workers should not live in dread that a disability, death, or old age could leave them or their families destitute.
As you know, Social Security functions under the premise that today's workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.
Our economy today depends upon women in the labor force. One out of three workers is a woman. Today, there are almost 25 million women employed, and their number is rising faster than the number of men in the labor force.
Apparently, union bosses are so distraught about declining enrollments they will stoop to exploiting illegal workers. There is no doubt that this would hurt American workers, who would suddenly face a flooded job market full of cheap foreign labor. It would depress the wages of the American workers and cost them jobs.
Democracy does not contain any force which will check the constant tendency to put more and more on the public payroll. The state is like a hive of bees in which the drones display, multiply and starve the workers so the idlers will consume the food and the workers will perish.
We should absolutely train up U.K. workers - but it takes time to do that. And the reality is that there are a lot of E.U. workers that come here to do jobs that British-born workers will not do.
We will reform legal immigration to serve the best interests of America and its workers, the forgotten people. Workers. We're going to take care of our workers.
The private sector granted bursaries [scholarships] for the children of their workers. Some of them built homes for their workers. They had in-service training, which improved the skills of their workers. So that spirit was there. All we did was merely exploit it.
Employers, have you ever stopped to reckon what the goodwill of your workers is worth? ... In most large concerns it would be worth more in dollars and cents to have the goodwill of the working force than of those on the outside. It has been repeatedly demonstrated that the average working force is capable of increasing its production 25% or more whenever the workers fell so inclined. Workers animated by ill will cannot possibly give results equal to those of workers animated by goodwill. The tragic fact appears to be that a tremendous number of working forces are not so animated.
In any given month, a large number of workers are being hired or are leaving their current jobs, illustrating the dynamism of the U.S. labor market.
It makes me angry to think that . . . female sanitation workers will spend their days doing a job most of their co-workers think they can't handle, and then they will go home and do another job most of their co-workers don't want.
In the 'Nike Economy,' there are no standards, no borders and no rules. Clearly, the global economy isn't working for workers in China and Indonesia and Burma any more than it is for workers here in the United States.
Less than 8 percent of private sector workers belonged to a union in 2004, and, overall, only 12.5 percent of American workers carry a union card - down from about one-third of workers in labor's heydays in the 1950s.
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