2. That's why when the job numbers come out, you have to dig deeper than what's being reported
The reality is that the jobs that are being lost are in the middle of the payscale....jobs in the $30-$60k especially. Those jobs are still being lost. The job growth is being made in the low-wage, below $30k. Most of the job growth is low-wage service workers, much of which is part-time.
So even though the job report shows the economy improving, it really isn't. Wealth disparity is increasing. Wages are going down. People have less money to spend. People who are getting laid off are taking these low wage jobs. And the people getting hit hardest the most right now is the youth. Many are leaving college with a mountain of debt and no way to pay off their loans because they can't find any employment with suitable wages. Ultimately, they won't be able to accumulate as much wealth over their lifetimes that their parents did. And that's the worry that this generation will actually have a worse quality of life than their parents.