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Welcome to the sick-onomy: 69% of the jobs created in Q2 came from the three lowest paying...

Welcome to the sick-onomy: 69% of the jobs created in Q2 came from the three lowest paying sectors, and the majority appear to have been part-time. With inflation low, U.S. families are beginning, on average, to scratch their way back - but not in the sectors where most of the jobs are being created. Federal policies attempting to cure inequality are exacerbating it, according to a WSJ editorial.
Comments (39)
  • 13761362
    , contributor
    Comments (382) | Send Message
     
    nobody reads the wall street journal anymore. nobody cares about anything they have to say.
    27 Jul 2013, 10:28 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1998) | Send Message
     
    But the military turns a blind eye; turns a blind eye...
    27 Jul 2013, 10:45 AM Reply Like
  • Continental Kid
    , contributor
    Comments (197) | Send Message
     
    You must be an Obama supporter....
    27 Jul 2013, 11:02 AM Reply Like
  • thotdoc
    , contributor
    Comments (1412) | Send Message
     
    Inflation is NOT low.

     

    I just bought food, put gas into my cars, paid some medical bills that went beyond what my insurance covered, tried to buy an investment property, only to find that in my area houses are up 27% yoy, saw a substantial increase in water and energy costs at home, and paid college tuition...which went up...again.

     

    Exactly when are people going to start thinking and questioning what they are being fed?

     

    Exactly where is the lack of inflation? Oh, you mean clothing is cheap? Let's see, the cost of a t-shirt has gone down and that makes up for the increased cost of energy, food, and tuition.
    27 Jul 2013, 10:52 AM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    T-shirts have actually doubled in cost.
    27 Jul 2013, 03:18 PM Reply Like
  • Jake2992
    , contributor
    Comments (825) | Send Message
     
    The cost of stuff ALWAYS goes up, that isn't the problem. The problem is that pay and wages hasn't kept up. Keep bashing unions and labor and that will continue.

     

    Inflation is, by all statistical analysis, still low. When it gets to 10%, then you can state inflation is high. Otherwise pipe down with the tired inflation conspiracy theories.
    27 Jul 2013, 04:00 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3573) | Send Message
     
    Generally people bash PUBLIC unions not private. Private unions usually get criticized not over wages, but the sometimes over-the-top benefits and workplace "rules" they negotiate. Like a certain company's union that would only let their drivers deliver one type of snack cake per truck...
    27 Jul 2013, 04:35 PM Reply Like
  • economaster
    , contributor
    Comment (1) | Send Message
     
    The fed is worried about not enough inflation. Property has made a come back from the losses it incurred from the sub prime mortgage crisis. That is why houses are up so much, but core inflation (which is what the fed measures and includes a basket of goods) is still historically low.
    30 Jul 2013, 09:40 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    I find it amazing how many people are willing to accept the party line.
    30 Jul 2013, 10:19 PM Reply Like
  • positivethoughts
    , contributor
    Comments (1809) | Send Message
     
    Justaminute - I know! Food inflation is easy to see, as is the increase in prices across clothing, entertainment etc. But, people keep touting the 'we havent had inflation' line.
    31 Jul 2013, 08:00 AM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    They just changed the way they calculated the GDP for the last five years too. Wonder why they chose 5 years?
    31 Jul 2013, 09:16 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3573) | Send Message
     
    I think they revise GDP calculations twice per decade... I don't know for sure, but I read that this morning on MW (so it must be true, etc.)
    1 Aug 2013, 01:39 AM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    I think they revise it when the results are consistently at odds with their wishes.
    1 Aug 2013, 02:24 AM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    There will be a longer time period of restated GDP. The change comes from a United Nations agreement amongst many countries initiated in 2008. The change is to recognize research and development as an "investment" instead of as an "expense". Most countries in the European Union will adopt this new GDP system in 2014, so the US may appear to be growing faster until then. The change was prompted by the idea of a move towards a "knowledge based economy".
    1 Aug 2013, 02:26 PM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    Herr Hansa
    The change was prompted by a need to show the masses that things are not as bad as the man on the street sees for himself that they are.
    2 Aug 2013, 10:10 AM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    Sure wyostocks. As the developed world moved cheaper manufacturing mostly offshore, a new method of measuring GDP was needed in order to show developed countries in a better light. If we think about the "Product" part of GDP, I suppose we can question whether research & development, advertising, and movie making are really "products", but those activities are part of the economy. Compare this to China who in recent years built (mostly) empty cities to boost GDP. Brazil did a similar move when most additional shares in Petrobras (PBR) went to the government, who then were able to claim a higher GDP that year. Governments always play with the numbers, especially GDP calculations. I think Sarkozy had an interesting suggestion in adding employment to GDP calculations, in order to get a more accurate picture. Of course that suggestion fell upon deaf ears, because no governments really wanted more accurate numbers. Anyway, the release of GDP figures will still influence markets, though in reality they are only comparable to previously released numbers.
    2 Aug 2013, 02:20 PM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    Herr Hansa
    "no governments really wanted more accurate numbers."

     

    Exactly. And therein lies the crux of the problem the world faces.
    3 Aug 2013, 12:37 PM Reply Like
  • CaladesiKid2
    , contributor
    Comments (271) | Send Message
     
    The WSJ article is spot on with their assessment. The Labor Dept. reports show the result of government policies (Affordable Care Act) has driven certain sectors (restaurants/retail) to reduce work hours below 30 hours for multitudes of employees. They are not laid off, therefore no job loss is reported. Adding confusion to the issue, these same employees become part-time employees at a second retail location to help compensate for their reduced income. These second jobs are boastfully reported as an increase in job creation! Net, no incremental jobs with a significantly lower standard of living. By the way, the WSJ is widely read and a highly respected news source.
    27 Jul 2013, 11:18 AM Reply Like
  • positivethoughts
    , contributor
    Comments (1809) | Send Message
     
    And with 17 trillion in debt and around 20% real unemployment, America spends 80 billion per month to spy on everyone and another 700 billion to police the world. Plus, dont forget there is expenses related to nation building - about 400 billion per year.

     

    But its all to protect you guys from 'Al Qaeda'. Who is funding Al Qaeda in Syria at the moment - the U.S. government.
    27 Jul 2013, 11:30 AM Reply Like
  • Left Banker
    , contributor
    Comments (1830) | Send Message
     
    Hey, where are those positive thoughts?
    27 Jul 2013, 11:44 AM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    Everybody outside of the beltway in Washington and on Wall Street knows this all too well, including the brainiacs in the administration and the fed. Problem is, nobody will admit to it as the MSM, including the mouths on CNBC, refuse to tell it straight to the American people.

     

    As for inflation, that number is radically understated for the American family who shop for silly things like groceries every day. For example, I saw this morning that back to school supplies are expected to be up by 7.3%.
    27 Jul 2013, 11:54 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (3573) | Send Message
     
    Great. It will cost us more money to supply our kid's teacher with a year's supply of Kleenex, paper towel and paper plates. All for "classroom use", of course...

     

    Bread, milk and rice remain stable in my area. Maybe it's time to adopt a more far eastern diet.
    27 Jul 2013, 01:08 PM Reply Like
  • Tim Gallagher
    , contributor
    Comments (402) | Send Message
     
    wyostocks-On the contrary. CNBC states these facts nearly everyday, and so do a regular host of guests. Maybe if you watch the late afternoon only, you may miss the frequent commentary, but I watch the morning hrs., and it's hashed over daily.
    27 Jul 2013, 02:50 PM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    Tim
    I must have been dozing nearly everyday when CNBC stated these facts.
    27 Jul 2013, 03:17 PM Reply Like
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    utterly untrue - do you work for them?
    they parrot obama talking points and completely ignore the real economy; they speak of "growth" and "improving" and "better than expected" and the housing recovery a thousand times a day;
    cnbc is the king of deceivers and they will reap what they sow just like all the other MSM; cnbc ratings have plummeted
    27 Jul 2013, 04:08 PM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    montanamark
    Exactly. Just listen to liesman on any given day.
    27 Jul 2013, 06:01 PM Reply Like
  • Jake2992
    , contributor
    Comments (825) | Send Message
     
    Have you ever listened to the troll Kudlsow, all he does is bash Obama and parrot right wing talking points? The media hates Obama
    27 Jul 2013, 10:38 PM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    jake
    Kudlow's show is at night after the markets are closed and he makes no pretense about what his show is.
    The afternoon commentators are supposedly "analyzing" and reporting the figures and as such should not be cheerleaders for the administration.
    However, given that CNBC and MSNBC and all run by the same people there is no surprise that they are both politically in the same camp.
    As for your comment that "The media hates Obama", you know full well that that is simply bull.
    28 Jul 2013, 11:45 AM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    When exemptions to health care laws can be found by using part-time and temporary workers, and other business expense benefits from the same practices, then it should be no surprise that the workforce is being molded in this manner.
    27 Jul 2013, 04:41 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1998) | Send Message
     
    The D.C. Fools have enough trouble of their own facing the harbinger of things, yet to come, yet to come.

     

    Very indusrusding.
    27 Jul 2013, 04:54 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4009) | Send Message
     
    Global trade and competition are responsible for much of the job losses. The heyday of low skilled American manufacturing jobs has passed. Government policies have indeed exacerbated the problem. The popular solution is the same everywhere: tax the rich and redistribute until the money runs out. See, e.g. Greece, Spain, Portugal, Italy, France and Detroit.
    27 Jul 2013, 05:37 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1998) | Send Message
     
    An epic major historic tragedy of a once proud nation is now in play, full play...
    27 Jul 2013, 06:19 PM Reply Like
  • SoldHigh
    , contributor
    Comments (995) | Send Message
     
    Under the Obama Administration, failure is defined as success so it's all good and the US economy is strongly recovering LOL

     

    :P
    27 Jul 2013, 05:56 PM Reply Like
  • wyostocks
    , contributor
    Comments (7612) | Send Message
     
    Aided and abetted by the MSM.
    27 Jul 2013, 08:12 PM Reply Like
  • Jake2992
    , contributor
    Comments (825) | Send Message
     
    WSJ is officially another propaganda arm of the right wing, with zero credibility
    27 Jul 2013, 10:39 PM Reply Like
  • CaladesiKid2
    , contributor
    Comments (271) | Send Message
     
    Uh Jake, you may want to reconsider who has the authority to determine whom has 'zero credibility'.
    28 Jul 2013, 09:48 AM Reply Like
  • Heliopios
    , contributor
    Comments (156) | Send Message
     
    Armchair economists all around
    29 Jul 2013, 11:27 AM Reply Like
  • positivethoughts
    , contributor
    Comments (1809) | Send Message
     
    Until government stop increasing debt levels faster than real GDP growth, the economies will get sicker.
    8 Aug 2013, 11:02 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1998) | Send Message
     
    But the Fed forced feeds continue unabated, the federal bureaucracy continues to entrenching, wastes in the public sectors remain unclean... till then...

     

    The D.C. Fools are still in control, full control..
    8 Aug 2013, 12:00 PM Reply Like
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