Posted on 08/05/2013 8:02:22 AM PDT by TangledUpInBlue
WASHINGTON (AP) — The 162,000 jobs the economy added in July were a disappointment. The quality of the jobs was even worse.
A disproportionate number of the added jobs were part-time or low-paying — or both.
Part-time work accounted for more than 65 percent of the positions employers added in July. Low-paying retailers, restaurants and bars supplied more than half July's job gain.
"You're getting jobs added, but they might not be the best-quality job," says John Canally, an economist with LPL Financial in Boston.
So far this year, low-paying industries have provided 61 percent of the nation's job growth, even though these industries represent just 39 percent of overall U.S. jobs, according to Labor Department numbers analyzed by Moody's Analytics. Mid-paying industries have contributed just 22 percent of this year's job gain.
"The jobs that are being created are not generating much income," Steven Ricchiuto, chief economist at Mizuho Securities USA, wrote in a note to clients.
(Excerpt) Read more at news.yahoo.com ...
shovel ready
A disproportionate number....87%
hmmm.... What industry could we remove some roadblocks to allow them to expand on their own, generating better jobs and more taxes paid???
Oil, gas industry junior workers best paid
http://www.gmanetwork.com/news/story/314714/economy/business/oil-gas-industry-junior-workers-best-paid-jobstreet
They call them (burger) flippers.
Meanwhile, the high unemployment is an excuse for the government keeping the printing presses going, which has created a situation where even those who have stable jobs with good incomes and/or some savings are falling further behind in terms of preparing for the future because savings pay no meaningful interest. Add to that, the only way to increase assets is the stock market, which is rigged enough so it's the rich and powerful will benefit from manipulations.
Since GWB's term began, in just over twelve years, we've gone from being the nation with an indisputable great future to a nation which statistically promises almost ever resident a future as a money-slave of its government.
The only hope is to get all of the invaders out of the US including revoking "dream act" residents and bring legal immigration to near zero, probably for at least a decade.
JMHO...it isn't going to happen, so our future is sealed. Our only chance is that enough HOR reps and other in positions of influence begin to "get it" and articulate what needs to be done, and why.
We have virtually destroyed this nation! The only way for true wealth and prosperity to truly happen is for a nation to use what GOD has given it. We have to use the natural resources we have here and MAKE things with it, then sell it to other nations!(there are probably better ways to explain this). It’s really basic stuff. Really, this goes far beyond 0bama(he and his cronies are simply facilitating the end, while picking the ‘corpse’ clean). This has all been decades in the making, between both parties and multiple Presidents.
Nearly all of our economic activity is ‘parasitic’ in nature. It’s simply money being moved from one to another with nothing of true durable value changing hands. Just compare that with what our country was back in the 50s and 60s. The most disgusting thing is how we have brought almost all of this upon ourselves. This destruction to our nation couldn’t have been plotted any better by our worst enemies!
I’m thinking that ABCBSNBCMsNBCCNN are actually going to muss-up Obama a little bit. But don’t worry. The game is to make Hillary — or whoever the next Dem Nominee may be — look like the next ‘savior’.
It’s not like they are going to push their ‘reporting’ or their editorials to the point where Obama would be truly damaged, politically.
In 2007 these were Mcjobs. Now they are a thriving part of dear leader’s recovery.
Is this Summer of Recovery 4 ?
Next move raise the minimum wage. The left needs this done to compensate their voters for watered down currency.Then all government giveaways will ratchet up accordingly and that 17 trillion in debt will be less by comparitative economics.
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