Half of jobs added last month were in low wage fields and those not in the labor force jumped by 354,000.
If we look at the labor force in sheer numbers we find a couple growing themes. The number of low wage jobs continues to dominate employment growth. Of course this will only add additional burdens to an already cash strapped young American worker. Financial pundits would say any job is better than no job. Speaking of no jobs, the next theme is that of the massive number of Americans not in the labor force. This number continues to trump any job gains. For example all the current headlines are saying that the US added 295,000 jobs. A nice number but where is the headline saying that the nation also added another 354,000 Americans to the “not in the labor force” category overshadowing any net gains in jobs? The reason this isn’t reported is that those not in the labor force are somehow relegated to the national safe of unreported secrets. Nearly 93 million Americans are not in the labor force. The spin is that many are older Americans retiring but the data shows otherwise. Many older Americans are too broke to retire. Low wages and exiting the labor force seem to be the continuing trend.
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