Excerpt from the Article:

“"It's a weird report" says Zachary Karabell, the head of global strategy at Envestnet and founder of River Twice Research in the attached video. "It's people tending bar. It's lower wage retail jobs. It's lower wage health services jobs" that the economy is creating, and "a lot of these are not particularly well paid and they don't have a great future."

“And that's a problem. Not only for the 14-million American who are still out of work and looking to get hired, but more broadly, it undercuts the entire economy.”

Gainful, full-time employment continues to go trend down. And with ObamaCare forcing many employers to switch their workers to part-time unemployment statistics and the earning capacity of the of the 99% will get even worse.

http://finance.yahoo.com/blogs/breakout/united-states-underemployment-why-wrong-jobs-propped-today-162511421.html

Comments

telliottmbamsc's picture
telliottmbamsc 5 years 31 weeks ago
#1

America HAS TO DECONCENTRATE WEALTH - PERIOD!

telliottmbamsc's picture
telliottmbamsc 5 years 31 weeks ago
#2

932,000 Americans Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low.

Excerpt: “At this pace the people out of the labor force will surpass the working Americans in about 4 years.”

http://www.zerohedge.com/news/2013-11-08/whopping-932000-americans-drop-out-labor-force-october-labor-participation-rate-drop

telliottmbamsc's picture
telliottmbamsc 5 years 31 weeks ago
#3
telliottmbamsc's picture
telliottmbamsc 5 years 31 weeks ago
#5

“Those not in the labor force now tallies to 91,541,000.” And it isn’t because of Aging, or all because of robotics or software. The problem is poor aggregate demand due to concentratio of wealth. That is the problem with Oligarchys with concentrations of wealth - you don't have as many employers as you would if the QE money had all gone to the SBA.

“The number of employed people now numbers 143,568,000” approximately half of the American Population.

“Those unemployed stands at 11,272,000, a 17 thousand increase from last month.”

“U-6 increased 0.2 percentage points to 13.8%”

“The long term unemployed, or those unemployed for 27 weeks and over, stands at 4,063,000 people.”

http://www.economicpopulist.org/content/october-unemployment-report-shows-almost-million-drop-out-labor-force-5429

Cwall's picture
Cwall 5 years 31 weeks ago
#6

The move toward part time workers and temp staffing agencies, was going on before Obama and 2009. Big Corporates discovered they didn't have to pay out benefits and staffing agencies kept a steady supply of bodies for their workforce. 2009 was the economic meltdown boom and the icing on the cake when they could layoff everybody and rehire at cheaper rates of pay and or hire more part time . The idea that giving more to big money will trickle down? History proves otherwise. The only way to jump start the economy is to tax the rich, levy taxes on imports and/or raise the minimum wage. There was never a switch due to Obamacare...it was going on long before he was in office.

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