Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
WASHINGTON — The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.
In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.
“Fast food is driving the bulk of the job growth at the low end — the job gains there are absolutely phenomenal,” said Michael Evangelist, the report’s author. “If this is the reality — if these jobs are here to stay and are going to be making up a considerable part of the economy — the question is, how do we make them better?”
The report shows that total employment has finally surpassed its pre-recession level. “The good news is we’re back to zero,” Mr. Evangelist said.
But job losses and gains have been skewed. Higher-wage industries — like accounting and legal work — shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
Remember statisticians can give you any number you want. Obama wants a low unemployment rate, that's what they gave him. They did not include the number of people that 'stopped looking' for work. Called 'not working'. Failed to note the 175,000 new youth entering the labor mkt. Failed to mention the 10 to20 million people that are unemployed or under employed. And don't forget, for every job Obama "created", 75 people wound up on food stamps and there more people taking from the system than putting in for the first time in history. Kool-Aid with that McMuffin???
The standard spin is that percentage falls partly (or mostly) due to people dropping out of the job pool (due to retirement, or long term unemployment), but it does not erase the positive fact about the 288K added.
Even ABC's morning report insinuated the number is basically worthless because of those who have simply dropped out.
Of course no one should expect the unemployment rate to change drastically in a year when Democrats are headed for a bloodbath in the midterms. Nope. Never. Just like the change in UE right before the 2012 election. Its a mere a coincidence.
Remember statisticians can give you any number you want. Obama wants a low unemployment rate, that's what they gave him. They did not include the number of people that 'stopped looking' for work. Called 'not working'. Failed to note the 175,000 new youth entering the labor mkt. Failed to mention the 10 to20 million people that are unemployed or under employed. And don't forget, for every job Obama "created", 75 people wound up on food stamps and there more people taking from the system than putting in for the first time in history. Kool-Aid with that McMuffin???
You failed to mention that 288,000 more people are now working compared to just a month ago.
Remember statisticians can give you any number you want. Obama wants a low unemployment rate, that's what they gave him. They did not include the number of people that 'stopped looking' for work. Called 'not working'. Failed to note the 175,000 new youth entering the labor mkt. Failed to mention the 10 to20 million people that are unemployed or under employed. And don't forget, for every job Obama "created", 75 people wound up on food stamps and there more people taking from the system than putting in for the first time in history. Kool-Aid with that McMuffin???
Everything you mentioned is included in the U6 number that gets released right next to the U3 number.
The U6 number also fell by .4% from a month ago, from 12.7% to 12.3%.
Excellent news. Before you know it we'll be back in the 5% area with "full employment" and then the cries of "create jobs" will finally cease.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
