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AP: New Jobs Low Pay, Part-Time (Blames ‘Cuts’)

From the Associated Press:

New jobs disproportionately low-pay or part-time

In a sluggish economy, good jobs are scarce; employers offer mainly low-pay or part-time work

By Paul Wiseman | August 4, 2013

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.

Wow. Who hacked the AP? Just last week the AP told us that the 162,000 jobs added were a sure sign hiring was picking up.

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…

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.

We still aren’t seeing the phrase "hamburger flipping jobs" that we saw in every jobs report when unemployment was 4% under the evil George Bush.

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…

Part-time work has made up 77 percent of the job growth so far this year…

Weak economies overseas have reduced demand for U.S. goods and, as a result, for better-paying U.S. jobs in manufacturing. Government spending cuts have taken a toll on some middle-class jobs, too…

Oh, that’s it. Foreigners and the evil Republican sequester cuts are causing this move to part-time employment. It has nothing to do with Obama-Care or any of Obama’s other tax increases or policies.

This article was posted by Steve on Monday, August 5th, 2013. Comments are currently closed.

One Response to “AP: New Jobs Low Pay, Part-Time (Blames ‘Cuts’)”

  1. GetBackJack says:

    Dick around with free markets at your peril.

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