On Facts and Stats
I was just reading Facts and Stats That Blew My Mind, and WalMart being the second largest employer behind only the government kind of blew my mind as well.
Consider the difference between a WalMart job and a government job. How many WalMart jobs does it take to support one government job?
It seems to me that in my youth government jobs did not pay as well as private sector jobs but the trade off was better security and benefits. What's the trade off now?
Well, with this kind of employment it is no surprise that 19% of 25-34 year old males are living with mom and dad.
On another thought, what a squeeze the economy is coming to. I was just thinking that the aging population and increased retirements would help this demographic group out, but there is a trend of huge cuts to pay the pensions of the retiring group, and to reduce pay and benefits of newer employees.
Seeing how so much of this structure is pyramid, it going to be really interesting to see how all of these low paid workers are supposed to support the pyramid.
And, on even another note, my husband was saying that the BC worker's compensation board made about 1/3rd of one percent on the market this past year, but they were in good shape because the board has set two conservative guidelines for ensuring adequate funding for claims. One is to aim for 115% of required funding and the other is they set their expected return at 3%, not this obscene 7-8% like many pension funds. They had some good years on the market so they are currently at 125% funding.
What a difference the economy would be if all funds had prudent standards.