New jobs disproportionately low-pay or part-time
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. SOURCE
But according to Barack Hussein Obama the jobs market and the economy are doing just fine.
I’m not knocking Wal-Mart or McDonalds but when they are the largest employers in the USA it is a sad situation. As far as I know, none of those employees, or very few of them, are full time workers. That *part time* workers thing gets around having to carry insurance and other benefits for the employees.
In 2012 Wal-Mart employed 2.1 million people in the United States, followed by McDonalds with 1.9 million workers. SOURCE
“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.
That’s one reason Americans’ pay hasn’t kept up with even historically low inflation since the Great Recession ended in June 2009. Average hourly pay fell 2 cents in July to $23.98 an hour.
There’s a word I truly hate, but it is a word that best and most politely describes why a 10 cent pack of gum now costs at least a dollar or more.
In the very early 1970’s I was making what averaged out to be $2.10 an hour, that’s a grand total of $84 a week, BEFORE taxes and with no overtime pay. Granted, I had some great insurance coverage, I mean FULL coverage, major medical, all of it, and it cost me very little.
On that $84 a week we lived pretty well. We had a decent house, a pickup truck that was paid for, we went out to eat at least once a week and all the bills were paid; all on $84 a week GROSS.
Everyone had a job that wanted one, welfare abuse and food stamp fraud was barely heard of, political correctness wasn’t required and we called a tax cheat, a *slacker* and criminal for what they were.
Having a baby every 10 months was NOT considered to be an *employment*, it was not considered to be an *industry*, it was considered to be TRASH by most people, but that was the beginning of political correctness and scamming the government, and thus the taxpayers and is what has led us to the situation we are in today.
Average hourly pay fell 2 cents in July to $23.98 an hour? AVERAGE?
Look, I am all for making as much money as possible as anyone else, but that is an insane figure.
What many people don’t realize is that $23.98 an hour today probably comes out to LESS, in reality, than making $2.10 an hour did 40 some odd years ago.
I didn’t have to work a part time job back then. Today people making that $23.98 an hour are barely getting by, many households have both husband and wife working, and in all probability, at least one of them has a part time job to help make ends meet.
The Obama administration would have us to believe that everything is just wonderful, but it’s not.
Jobs numbers are *cooked* by the administration to make the economy look better on paper. The stock market is at record highs and those numbers are falsely inflated to make Barack Hussein Obama look like he is a competent President, one that is boosting the American economy.
It is all a LIE and when the *bubble* bursts again it won’t be a *Great Recession* my friends, it will be a *Depression*, one so great that it will make the *Great Depression* of the 1930’s look like a minor loss in one day of trading on the market today.