Friday, December 9, 2016

Another Dose Of Reality For Those Who See Recent Jobs Growth As A Vindication...

...Of an economy that's got itself back on track to a rosey future.

Despite the overall numbers of people being down to the point where Fed policymakers consider it "full employment," the situation, as it usually is, is a good deal more complex. To quote the article below:
"...a recently updated study by Harvard and Princeton economists shows that 94 percent of "net job growth" -- the number of jobs created minus the number of jobs lost -- from 2005-2015 was in "alternative work."
And in that "alternative work" category do we see how working people, even when they supposedly have a job, actually have a very tenuous hold on dependable, full time income. This is so because so much of that "alternative work" is in contracting, part time, or on call work. A situation where not only is the paycheck week to week quite variable, but the benefits full time working folks get are most likely non existent. The bottom line then being that your "better off" index becomes quite questionable even as the powers that be congratulate themselves on the beautiful resiliency of Capitalism. Parallel to the fact, of course, that most social services, and basic public needs, go begging for resources because government at all levels has suffered the results of round after round of tax cuts, benefiting mostly the wealthy, not to mention the tax breaks local governments have to make to get businesses to even stay where they are, let alone bring in new ones.

Most Jobs Created Since 2005 Are Nontraditional