Friday, September 14, 2018
It’s also tough to find qualified people for the publishing and marketing industries. It’s a good time to be looking for a job. Not a good time for finding employees.
I don’t know how this cut of the employment situation is countrywide, but in claiming “victory” for making America great again, President Trump has cited (among other things) record low unemployment statistics.
My colleague Bill Bonner had something to say about this recently on his blog https://bonnerandpartners.com.
President Reagan’s budget advisor, David Stockman, writes that, while the official unemployment rate has gone down, the number of full-time, “breadwinner” jobs in America, as reported by the Bureau of Labor Statistics in July, was 73.83 million.
When the century began 18 years ago, the number was 72.73 million. Only 1 million decent new jobs have been created – while the U.S. population has grown by 48 million people!
Almost all the rosy jobs numbers are traceable to 1) people dropping out of the workforce, 2) low-paid, part-time jobs in the leisure and medical service sectors, and 3) inflation.