The Gutting Of The American Economy
The American economy continues to be demolished, but you can take steps to protect yourself.
The American economy has been gutted. This has made it more difficult for young people to get ahead. Jobs have been shipped overseas. Next, more jobs will be replaced by robots and artificial intelligence. The gutting of the American economy has negatively impacted younger generations. There are still ways to get ahead, but they require taking on enormous risks that previous generations do not understand.
Manufacturing To Service Economy
The United States is no longer a manufacturing economy. The country is now primarily a service economy. The majority of jobs are retail and service jobs. The service economy was created when NAFTA was signed. NAFTA sent jobs overseas.
NAFTA affected workers in three ways: production jobs were shipped off, allowed U.S. employers to make employees accept a lower wage and fewer benefits, and NAFTA was the model for the global economy.
NAFTA was the first knife wound for the American economy. The higher-paying jobs were shipped overseas. Americans were left with lower-paying entry-level jobs.
The core jobs left were lower-paying service sector jobs: managers, servers, retail sales associates, bartending, barbers, accountants, et cetera.
Gig Economy
The gig economy is an extension of the service economy. Unless you are in an in-demand contract on a freelance site, you may be working the easier-to-find gig jobs such as Uber or delivering food with Grubhub. Most gig jobs in the given economy are low-paying jobs that most people work to bring in extra income alongside a main job or while in school. These are contractor jobs, meaning the gig employee receives no traditional benefits from what has traditionally been considered a “regular job” in the United States: health benefits, paid time off, and a company paying a certain amount into your 401k to help you with retirement.
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