Posted on 08/04/2013 8:33:46 AM PDT by whitedog57
Friday’s jobs report from the BLS could have been better. It revealed that 81% of jobs created since March were part-time rather than full-time.
Furthermore, there were 988,000 discouraged workers in the United States in July, an increase of 136,000 from July 2012, according to data released today the Bureau of Labor Statistics (BLS).
And the mix of jobs created were mostly in low-paying sectors, like food services and drinking places.
Retailers led job gains with 47,000, and restaurants and bars added 38,000. All told, four low-paying sectors — retail, restaurants, temporary staffing firms and home health care — accounted for 60% of the jobs added in July, though they make up just 22% of total employment, according to an analysis by Wells Fargo. So far this year, the four sectors have accounted for 45% of the nation’s 1.3 million payroll additions.
Here is a table of the largest jobs creation sectors in July:
bljhigh
The WORST job creation sectors in July:
blsworst
And Pew Research issued a report that more and more Millenials (aka, young people) are living at home. A record total of 21.6 million Millennials lived in their parents’ home in 2012, up from 18.5 million of their same aged counterparts in 2007. Of these, at least a third and perhaps as many as half are college students.
This throws a curve ball at household formation. Add in skyrocketing student debt and rising Affordable Healthcare Premiums for Millenials, and … Houston, we have a problem.
obamacare-premiums-620xa
The new jobs slogan for Congress and the Administration: They call them flippers.
Clam_Grill
Young Americans Left Out Of Obama’s ‘Jobs Recovery’
Posted 08/02/2013 06:32 PM ET
A (New) Lost Generation:
As the media focus on a slight drop in unemployment, an ugly trend gets ignored: the declining participation of young Americans in the job market. We’ll pay for this for decades to come.
We keep hearing the job market is “improving” or even “solid,” with 162,000 new positions created in July and unemployment falling to 7.4%, the lowest since 2008.
But one group is sitting it out. And it’s the one that most enthusiastically embraced Barack Obama in both of his presidential elections: America’s young.
Their unemployment rate is a shocking 16.1%. Increasingly, those ages 18 to 29, the so-called millennials, are being left out of the market, with tenuous or no ties to the workplace. Just 43.6% of this group have full-time jobs, according to Gallup.
“Demonstrators in support of fast food workers protest outside a McDonald’s as they demand higher wages and the right to form a union without retaliation Monday, July 29, 2013, in New York’s Union Square. Activists say hundreds of workers have walked off their jobs. They are demanding a minimum wage increase and calling for better benefits. ((AP Photo/John Minchillo)”
Replace all fast-food cashiers with automation. Problem solved.
Fast Food Self-Ordering Replaces Cashiers
Video:
Published on Apr 10, 2013
Self-order kiosks use touchscreens to replace cashiers. Fast food chains implementing automated self-service
machines include McDonald’s, Burger King, Taco Bell and KFC.
http://www.youtube.com/watch?v=mfKbaX4jE9U
Robot Replaces Workers At Fast Food Restaurant
http://www.youtube.com/watch?v=vDJc1NoGg2g
U3 - 7.4%
U6 = 14.0%
U6 is the true measure of the economy’s employment/unemployment, from BLS. U3 is bullcrap.
http://www.bls.gov/news.release/empsit.t15.htm
Most HOAs in Texas limit one family per household. I wonder what’s going to happen about this? The courts have ruled that HOA agreements are legal and binding.
One what?
Oh, disregard... I read that wrong
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