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View Diary: Behind the recovery job numbers: working poor (22 comments)

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  •  Too funny...something I started writing... (23+ / 0-)

    ...last night, before I changed course and wrote what I posted, early this morning......here's the first section of the post (a very long post it would have been, too)...

    The Latest On Jobs and Inequality: 16 Tons of Stiglitz, Krugman, Reich, et al

    Once again, over the past few days, and as they have done the same during the past five years--while almost everyone in D.C. and in the MSM is focused upon the fiscal cliff--Joseph Stiglitz, Paul Krugman and Robert Reich have come out swinging on jobs and income inequality.

    But, first some context from fellow Kossack gjohnsit and a little sharing from a friend, whom we’ll refer to as “Judy” for the purposes of this post; and, how that directly dovetails with a slightly deeper dive into this past Friday’s Bureau of Labor Statistics’ (BLS) Monthly Employment Situation Report for November 2012.

    In one of the more underappreciated posts in this community in many months, on November 10th, Kossack gjohnsit gave us a little tour “Behind the recovery job numbers.” In that piece we were reminded that “there is a big difference between a good job and a bad job.” And, we learned that, overall, wages continue to trend lower, despite a four-cent per hour uptick in this past Friday’s jobs report. Gjohnsit (accompanied by excellent annotation) also informed us that…

    …most of the jobs created during this recovery have been low wage jobs…

    …The number of part-time workers has increased 313,000 in just the past two months.
    The number of Americans working full time has declined by 5.9 million since September 2007, while the number working part time has jumped by 2.6 million.
    And that's not the worst part. Most of the jobs are not covered by unemployment benefits…

    …Much of this trend is from an increasing number of people turning to lower-paying, self-employment…

    …far more people are leaving the workforce via disability than getting new jobs…

    #            #            #

    And, the rest of it I'm leaving out...although it does exist....LOL!

    Very glad to see you reposted this. This really was exceptionally GOOD!

    --Bob

    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

    by bobswern on Tue Dec 11, 2012 at 06:38:55 AM PST

    [ Parent ]

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