Service sector means low paying and part time.
One good paying full time job is replaced by three part time minimum wage jobs. Net job gain.....TWO. Good news, right?
Someone on FR a few days back suggested that a huge trade defecit was a sign of a great economy and that service sector jobs are actually very good ones, many of them.
He had charts and said that manufacturing is low wage and needs low numbers of workers, nowadays.
I disagreed, but was not sharp enough on the topic to refute him as others would have.
His two charts were compelling and again, I wasn’t in a position to break them down as wrong.
Funny that he thought manufacturing was so worthless when it made China’s GDP grow at 8 percent for YEARS.
Obama and the Left are bragging about how the economy is booming. Well yes, it is probably doing pretty well in the Healthcare sector because we are all now forced to pay the Obamacare tax while the rest of the economy is in the pits and no getting better.
Worst of all average folks are seeing what is left of their savings quickly depleted as they pay for the Obamacare premiums and tax.
People need good jobs to pay the Obamacare premiums and those jobs are not available.