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"More than six years after the start of the 2008 recession, private sector employment is only just now returning to prerecession levels. Since employment hit bottom in February 2010, NELP has issued a series of reports tracking job growth, first by industry and later by occupation. Drawing on a variety of data sources, these analyses reached the same conclusion: Employment growth during the early recovery was heavily concentrated in lower-wage industries and occupations."
There you go making stuff up again. Not ALL the jobs are service jobs. Professional and business services, health care and social assistance, food services and drinking places, and transportation and warehousing ALL increased. Most jobs ARE service jobs - it's the biggest sector of the economy (and has been so for ages) but other sectors are growing too.
This is the 4th month in a row with job gains of over 200,000/month. That's the longest run of 200,000+ job gains since 1999 (15 years ago).
Ken
"The professional, scientific, and technical services industry—an industry with one of the highest median hourly wages—also posted significant gains, adding nearly 839,000 jobs through March 2014 while accounting for 9.4 percent of the private sector employment increase. Major occupations within this industry include accountants, lawyers and legal professionals, software developers, and engineers. While strong job growth in this higher-wage industry is a positive development, the employment increase is over six percentage points less than it was at a similar stage following the 2001 recession.
Strong private sector employment growth also continues in the education and health services sector. Relatively immune to downturns, this was the only sector to add jobs over both the downturn and recovery, pushing employment nearly 13 percent higher than it was at the start of the recession. Within this high- growth sector, the lower-wage industries social assistance and nursing and residential care facilities employ a combined 6.5 million workers and pay a median hourly wage of less than $13."
There you go making stuff up again. Not ALL the jobs are service jobs. Professional and business services, health care and social assistance, food services and drinking places, and transportation and warehousing ALL increased. Most jobs ARE service jobs - it's the biggest sector of the economy (and has been so for ages) but other sectors are growing too.
This is the 4th month in a row with job gains of over 200,000/month. That's the longest run of 200,000+ job gains since 1999 (15 years ago).
Ken
It was a very good week from the standpoint of economic news. A few days prior, Germany raised its growth outlook .8%. With a global economy, that is every bit as important.
Even your reply shows your post was wrong and that you made it up. You posted the following:
Quote:
Originally Posted by HappyTexan
The new jobs are service jobs..typically low paying.
Haven't you been paying attention to the details of the BLS reports ?
The new jobs are NOT simply service jobs. They are MOSTLY service jobs, but you didn't post that, you posted "The new jobs are service jobs" - and that's NOT the case. MOSTLY service jobs is not the same as them ALL being service jobs as your statement that "The new jobs are service jobs" implies. We have a consumer-based economy so for DECADES we've had "mostly service jobs". The percentage IS slightly higher today than in decades past but it's been the largest sector of the economy for a long, long time. Back in 2002 it was already 76.3% of the jobs in the country. Today it IS a bit higher (in 2012 it was 79.9%).
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