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Response to SoFlaJet (Reply #13)

Fri Jul 6, 2012, 01:51 PM

35. 120,000 non-farm payroll jobs a month need to be created just to keep pace with population growth

 

so 80,000 created means a net of negative 40K. Plus most of the new jobs being created are bottom of the barrel in terms of pay. 95% of the jobs lost in the last 4 years have been middle class or higher in terms of pay.

http://www.businessweek.com/news/2012-05-01/obamas-middle-class-problem-job-losses

Obama's Middle Class Problem: Deeper Job Losses

Barack Obama campaigned four years ago assailing President George W. Bush for wage losses suffered by the middle class. More than three years into Obamaís own presidency, those declines have only deepened. Hans Nichols reports on Bloomberg Television's "In The Loop."

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http://www.businessweek.com/articles/2012-05-03/the-recovery-squeezes-the-middle-class/

Ninety-five percent of the net job losses during the recession were in middle-skill occupations such as office workers, bank tellers, and machine operators, according to research by economists Nir Jaimovich of Duke University and Henry Siu of the University of British Columbia. Thatís what we all assume happens in recessions: The middle class is hit hardest, then eventually climbs back. Only, that comeback isnít happening. Job growth since the end of the recession has been clustered in high-skill fields inaccessible to workers without advanced degrees or in low-paying industries, the economists found.

In March the U.S. had 2 million more managers and professionals working than five years earlier. Lower-paying service-sector jobs were up 1.5 million. Itís the middle-income jobs that have been slow to return. Over the same period, there were 3.2 million fewer Americans working in sales and office jobs and 1.2 million fewer employed in transportation and productionóa broad category that includes factory and assembly-line workers, printers, welders, tailors, and poultry and meat plant workers. Another worrisome measurement: Median annual household income in March was $2,900 lower after inflation than at the start of the recovery in June 2009, according to Sentier Research, an economic consulting firm.

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Romney will be even more of a disaster, if he someone slithers his way into office.

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mahatmakanejeeves Jul 2012 OP
Inuca Jul 2012 #1
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SoFlaJet Jul 2012 #13
LineLineLineReply 120,000 non-farm payroll jobs a month need to be created just to keep pace with population growth
stockholmer Jul 2012 #35
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