When the government reports that more Americans are working, it is important to question what exactly are these Americans doing?
Job creation and stimulation should not solely focus on quantity, but also on quality.
What is the character of employment today? Not so great.
Zero Hedge reports:
…[W]hile full-time jobs actually declined by 5,000 to 142,296K, part-time jobs soared by 430,000…
…Curiously, if only looks at the unadjusted data, the spread between part and full-time jobs explodes, with some 1.2 million full-time, unadjusted, jobs lost in September, offset by a surge in 1.3 million part-time jobs.
But perhaps even worse than the breakdown in September job quality, was another seldom-touted series: the number of Multiple jobholders, or people who are forced to hold more than one job due to insufficient wages.
The government has created the illusion of thriving and vast job growth. However, this sausage factory of statistics is producing a rather bleak scene for the average American.
When our college graduates enter the workforce, what conglomeration of part-time jobs shall they choose from?
And, if the only jobs that are on the rise are part time jobs, how much will the tax payers suffer as they provide benefits to both the unemployed and ill-employed American?
Will the United States continue to trend in this direction of multiple jobs to keep their family afloat? Will it solely be at the sacrifice of our wallets or also our quality of life?
What this really gets down to is the question of the American dream.
Does it still exist today? Is America still exceptional in this regard?
Are our current political leaders doing everything they can to make sure the full-time jobs still in the United States remain and new ones are created?
Let’s not be naive as government-unicorns deliver these job statistics. “The overall job growth continues to chug along, if at a modestly disappointing pace” one Zero Hedge journalist writes,”at least in September, the quality of the added jobs was absolutely woeful.”