"Are We Losing 'MILLIONS OF JOBS'"?

John Dessauer's Investor's World ^ | November 5, 2003 | John Dessauer

[Coop]

Exactly. That's why I look at the unemployment numbers with a big ole grain of salt. If you're a former high tech worker earning $100k a year and have to take a $20k barista job you haven't affected the unemployment number at all. In fact if you were on unemployment insurance for a year and then took a job out of disparation, you've decreased the number.

A lot of the job growth in the past few months has come in relatively high paying areas. See bls.gov.

[handk]

"Let me tell you a little story here. You know Joe Smith started the day early, he having set his alarm clock made in Japan for 6:30am, while he put his coffee pot on made in Germany, and while it's perking he puts on his blow-dryer (made in Taiwan) to work, and then he shaves with his electric razor made in Hong Kong, and then he puts on a dress shirt made in Taiwan, his designer jeans made in Singapore, then a pair of tennis shoes made in Korea; then after cooking breakfast in his new electric skillet made in the Phillipines, he sits down at his calculator made in Mexico to figure how much money does he have to spend today. Now, after setting his watch made in Switzerland, while listening to his radio made in Hong Kong, he goes out and gets in his car made in Germany, and then he goes out looking, like he has for several months, for a good paying American job. Well, at the end of another discouraging and fruitless day, Joe decides to relax for awhile, so he puts on a pair of sandals made in Brazil, pours a glass of wine made in France, turns on his TV made in Japan, and then ponders again why it is that he can't find a good paying American job." [George Gordon, "Practical Application of Private Business", July 28, 2002, archived here

[RiflemanSharpe]

It is not the quanity of jobs but the quality. McJobs are plentiful, but good paying jobs with good benefits that support a middle classs life style are not. I was talking to a neighbor of my brothers at a dinner party they held this weekend. He was laid off when Enron when bust, he still has not been able to find a good job. He has been working contracts for less money and no benefits. He is feed up as are a large number of peole I know.