Obamaconomy: New Jobs Created Are Probably Second Or Third Jobs
Felix Salmon blogs at Reuters on the "stagnation behind the excellent jobs report":
The number of multiple jobholders rose by 340,000 this month, to 7.26 million -- a rise larger than the headline rise in payrolls. Which means that one way of looking at this report is to say that all of the new jobs created were second or third jobs, going to people who were already employed elsewhere. Meanwhile, the number of people unemployed for six months or longer went up by 89,000 people this month, to 4.8 million, and the average duration of unemployment also rose, to 36.9 weeks from 35.3 weeks.
via @MargRev, via @Richard_Florida
going to people who were already underemployed elsewhere.
FTFY
nonegiven at March 9, 2013 7:12 AM
The number of jobs at the Fortune 500 have not really gone up at all. Even the DOW 30 aren't hiring. They're just working the same employees more.
Jim P. at March 9, 2013 10:56 AM
My brother is one of those with a new second job. He works for $9 an hour in a call center during the day and now a second job in a convenience store for $9.50 an hour. He said it at least makes up for the income he used to have when he lost his job three years ago, but it's at the expense of any time to himself, with his family, or having a life since he now works 80-hours a week.
BunnyGirl at March 9, 2013 10:56 AM
Sadly, this is the new normal - being out of work for months, then being so grateful to get a job that pays gas, rent, and other monthly expenses with a 4-hour daily commute. And you're happier than a pig in shit; because, truth be told, we are all pigs in shit in this Obamanation.
Oh, and there are no benefits, no holiday or vaction pay, just a flat hourly rate; because we all know "Obama will provide." Oh, yea of little faith - the manna from heaven will soon fall!
Charles at March 10, 2013 8:42 AM
Not only that, but since Obi promised the budget battle would cause pain, the admin will make sure it causes pain.
http://www.washingtontimes.com/news/2013/mar/5/email-tells-feds-make-sequester-painful-promised/
Stinky the Clown at March 10, 2013 8:45 AM
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