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
I think you are touching on something.
It might not be that they are all “entry” level, but in the past year we’ve updated a lot of our telecom systems and the result was that we could handle more calls with a lot fewer people. And since we could route the calls to the proper group (with the proper skills) the “new jobs” were not only entry level, but the skill set to do the job dropped by a measure of two or three.
Literally, the toughest skill for the entry level job is the ability to show up on time, and communicate in english.
Under Obama, the Feds screwed with the formula. The measurement matrix should be reset back to the pre-Obama norm.
No, mfg jobs growing rapidly. Lots of high wage jobs.
Real unemployment falling.
There is no wage inflation (although Americans’ household income is at RECORD highs) because we are still catching up from a massive 20 year worldwide DEFLATION.
Illegals’ labor is not counted separated from Americans’ labor.
The CEO’s annual pay and bonus’ are a contributing factor. The fact that companies will make their employees work for as little as possible as proved the last 20 years when they took away pensions, medical, vacation days, sick days, and threw them a bone by the 401K which now they don’t match. When a sucker knocks on a companies door and says I need a job, the company is going to hire that person with the lowest pay and bennies they can.
New jobs might even be full-time and people are dumping part-time work where they can. One of the big problems with the Obamacare-economy was the move to part-time work.
I am a life long bookkeeper—mostly for small businesses.
AFTER years of dormant & declining job availability, a person who can now achieve a job should be somewhat grateful.
IF you are going from NO JOB to a job-—kieep your mouth shut about ‘NOT GETTING PAID ENOUGH”.
YOU took the job at the advertised price. IF you don’t like your wages-—QUIT & see IF anyone else will pay you what YOU think YOU are worth.
How about another idea? I once applied for a bookkeeper job. Close to home & full time. Perfect-—except the owner did NOT want to pay me what I was asking. My hourly rate was exactly what I had been making for some time.
I finally said: “Tell you what: I will work for you for 1 full week. IF you don’t think I can do this job-—you DO NOT owe me a penny. HOWEVER-—IF you want to keep me, I get to start at MY rate & I get a review for an increase in 60 days.””
After 3 days, I got the job at MY rate & I got 2 raises in that 60 days.
Sometimes you have to believe enough in yourself to prove it to others.
The unemployment rate stat is BS. The labor participation rate is a greater gauge of the job market.
A growing job sector should initially see an increase in the unemployment rate as people who previously were not counted in the unemployment statistic, because they gave up looking, begin to look for jobs again.
The unemployment rate stat is BS. The labor participation rate is a greater gauge of the job market.
A growing job sector should initially see an increase in the unemployment rate as people who previously were not counted in the unemployment statistic, because they gave up looking, begin to look for jobs again.
Legal and illegal immigrants are depressing wages because they grow the working age population faster than jobs are being created.
Unemployment is low because job creation isn’t keeping pace with the number of workers
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
***********************************************************
Also two more reasons:
Extremely high taxes; largest tax increase in history after downturn of 2008 (Obamacare)
Extremely high level of debt and continued deficit spending