Tuesday, August 13, 2013

Present Savings To Business Of 5.5 Million Fewer Full Time Jobs

There are presently just under 118 million who work usually full time. In 2007 at the peak there were just over 123 million working full time. The difference is over 5.5 million.

Imagine all those workers not making the median salary from 2011, which was almost $27,000 per year. Or imagine all those workers not making the average salary from 2011, which was just over $41,000 per year.

The annual savings to business today in compensation alone because all those people are not working is somewhere between $149 billion and $228 billion. Add in the cost of benefits for each employee and then multiply by about six and you'll understand one of the reasons why stocks of businesses have done so well under Obama.