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Great news, but you are forgetting 2 thins: 1-many people are no longer looking for work or have taken jobs below their skill level and 2-the number applying for unemployment last week jumped from the previous few weeks. So, though the economy is on the mend, we are nowhere near out of the woods.
Well Walmart is the #1 employer in the US so yes, lower paying service jobs.
Walmart overtook IBM as the nation's largest private sector employer back in the 80's. The # 2 and 3 spots belong to fast food empires.
The writing has been on the wall for more than 25 years, despite the housing bubble that drove the economy for a blip in time.
Those without appropriate education and/or marketable skills will continue to be challenged to find decent paying jobs and remain employed. Those that are inclined to blame government are likely to have even more challenges.
Great news, but you are forgetting 2 thins: 1-many people are no longer looking for work or have taken jobs below their skill level and 2-the number applying for unemployment last week jumped from the previous few weeks. So, though the economy is on the mend, we are nowhere near out of the woods.
I don't think we will ever be out of the woods. This is the new normal. The Great Recession damaged not just America's, but the whole world's economy and there is no going back to the way things used to be. No more 5% unemployment, no more BRIC nations taking over the world, no more....well, a lot of things.
Unemployment is a lagging indicator. The negative 1% growth rate that we experienced in the first quarter of the year will reflect in Summer job growth.
So our positive growth rate in the second quarter won't translate into more hiring?
So our positive growth rate in the second quarter won't translate into more hiring?
What positive growth rate? That information isn't released for months. My bets are on it being low, maybe even negative again. We are now reaching the cyclical stage where our economy goes back into recession. And there were so many industries that weren't able to be corrected by market forces after the last recession because the government shoved its hands into all sectors of the economy. They are gonna have to get fixed at some point.
The Labor Force Participation Rate was 58.6% in 1948.
It didn't even go over 62% until 1977.
Look at the historical data in your above link, by setting years from 1948 - 2014.
Despite the post WW2 economic boom in the 50's, there were 2 recessions and 20% of the U.S. population lived in dire poverty and likely did not realize the Great Depression had ended.
Walmart overtook IBM as the nation's largest private sector employer back in the 80's. The # 2 and 3 spots belong to fast food empires.
The writing has been on the wall for more than 25 years, despite the housing bubble that drove the economy for a blip in time.
Those without appropriate education and/or marketable skills will continue to be challenged to find decent paying jobs and remain employed. Those that are inclined to blame government are likely to have even more challenges.
This is a global situation.
I know that. I saw it firsthand in the mid 90's when tech started to get off shored.
Engineers losing their jobs to other countries while companies cried to government that there weren't enough tech workers in the US.
And no one cared.
And just what is "appropriate education and skills" today ?
What industry is safe from offshoring ? Usually those that require a physical presence. And those jobs are now being replaced slowly with automation.
What positive growth rate? That information isn't released for months. My bets are on it being low, maybe even negative again. We are now reaching the cyclical stage where our economy goes back into recession.
The closer to mid term elections the more lies the current government will speak, I do not believe one thing they say
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