I can think of a few reasons:
* The new jobs are entry-level and don’t pay well
* The new jobs are service jobs and do not pay as well as manufacturing or construction
* Unemployment isn’t as low as it is being reported
1. The U-3 is baloney and 2. those 95 million people taken out of the workforce during Obama’s administration and not counted anymore.
The key is that the real inflation rate is not what is reported, so while social security income is not rising very much the costs of goods and services that seniors use (health care, food, and rents are the major ones) are rising very quickly.
As a result the seniors that are “out of the work-force” are re-entering the workforce and competing for many (especially service sector) jobs.
The employment surge began in earnest in January. It'll take a little longer.
Lastly, these need to be REAL jobs. Too many people working fast food and part time.
When part time jobs become full time, then wages will rise.
Because the unemployment numbers have been falsified for the last eight years.
Wages will rise when a substantial number of the illegal aliens in the workforce are deported and a substantial number of those American INVOLUNTARILY unemployed and considered not in the workforce begin to reenter employment.
Obamacare killed the 40-hour work week, forcing small businesses to keep people's hours under 30 per week?
Obamacare made small businesses keep headcount under 50?
-PJ
The unemployment rate is a phony. The people who became frustrated and gave up aren’t counted. They may be starting to come out of the woodwork as things improve. In any case, the pool of the unemployed is much greater than 4.4 pct.
1. Required employment skills advance..., education and labor skills decline.
2. Definition of BLS "Unemployment" revised to understate the true employment conditions.
3. Employment of illegal aliens continues to become the "Norm", thus reducing the value of labor... Add others as you will....
I’ll take “Because the Numbers are Bogus” for $100, Alex.
Many of the businesses that are coming back will require investment in factories and equipment and that takes time. Most of the manufacturing companies left behind empty and decaying buildings
why? business overhead that never goes down, 50% of the population that doesn’t pay taxes, plus cheap migrant labor who think $8/hr is a kings ransom.
When a podunk town pays $500K for a ‘city manager’, and states pay their administrators millions, those costs have to be picked up by someone and businesses get hit hard. Then there are the regulators and agencies that increase exponentially each year and they all want a piece of the cash register, too.
Can you say green cards and illegals?
They are lying about an “all time low”, that’s why. There have never been more working-age Americans out of the work force than now!
You can worry about this or you can let the market work.
The market will take care of it just fine on it’s own.
Simple really ... supply and demand. The number of jobs available is increasing which is good but the number of applicants for these jobs is yuuge. With multiple selections to choose from, businesses will hire the most qualified at the lowest wage it can. Until the number of applicants per job drops, there is no pressure on businesses to increase their offers to applicants.
One can consider Ux, Uy and Uz all you want but it is no more complicated than stated above.
Definitely bogus numbers. Hubby has been out of work and not looking for more than 3 years, not on unemployment, not counted as “unemployed.” But, that’s a job that used to be there, that isn’t any more. I lost my job earlier this year. Found another job before I went on unemployment, so I was never on the rolls, but they never counted the time I was out of work, since I wasn’t in any government system.
Based on his article, unemployment calculations and the reasons for them must look like magic to him.