Interested why despite the euphoric headline NFP print, a cursory glance deeper inside the payrolls report reveals weakness after weakness, with both participation plunging again and wages the worst since last summer? Here is the answer: 4 of the top 5 largest job additions in September, retail trade, leisure and hospitality, education and health and temp help, were of the lowest quality, and paying, jobs possible. So yes, America added a whole lot of minimum wage waiters, store clerks, groundskeepers and temps: truly the stuff New Normal "recoveries" are made of.
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3 comments:
So should everyone start at the top or something? Almost everyone reading this has worked for low or minimum wage at some point in their life.It's called proving ones self.
pssst....this is the plan from the start. It's a plan that was pushed by big business which funded the politicians that so many of you blindly follow over the cliff. Trade off good manufacturing jobs for tons of minimum wage service jobs.
I fully agree with that 1:59,but some will eventually separate themselves from the pack and prove their worth.In one respect or the other it's always been that way.Weed out the worthless and reward the motivated.
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