Author Topic: Where The September Jobs Were in 2016: Secretaries, Waiters, Retail And Social Workers  (Read 1142 times)

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Offline SirLinksALot

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SOURCE: ZERO HEDGE

URL: http://www.zerohedge.com/news/2016-10-07/where-september-jobs-were-secretaries-waiters-retail-and-social-workers



While we already noted that the headline quantitative print in jobs, which rose by a seasonally adjusted 156K in September, was far weaker when observed from a quality standpoint, as a result of the surge in part-time jobs, the dip in full-time jobs, and the jump in multiple jobholders to the highest since the financial crisis, another question is which industries were hiring, albeit mostly part-time workers.

Here is the answer:

* The most actively hiring sector was the otherwise stable "Professional and business services" where employment rose by 67,000 in September and has risen by 582,000  over the year. However, a quick look within the number reveals that the most active sub category was that of administrative and support services, which account for more than half, or +35,000, of the increase. In other words, secretaries and clerical staff.

* Obamacare may be crushing the middle class, but it continues to "create" jobs: Health care added 33,000 jobs in September. Also thank America's aging population: ambulatory health care services, aka social workers, added 24,000 jobs. Over the past 12 months, health care has added  445,000 jobs.

* There was the old faithful: waiters and bartenders, aka "Employment in food services and drinking places" which continued to trend up in September (+30,000) and has increased by 300,000 over the year. This group remains one of the strongest, minimum-wage contributors to the Obama "recovery."

* Finally, there was minimum wage retail trade workers, where employment continued to trend up over the month (+22,000). Within the industry, job gains occurred in clothing and clothing accessories stores (+14,000) and in gasoline stations (+8,000). Over the year, employment in retail trade has risen by 317,000.

In other words, more than half of the 156K jobs added in September went - once again - to minimum wage workers.

What about higher-paying jobs? Manufacturing jobs declined by 13K, transportation and warehousing dipped by 9K, there was no change in mining and logging workers, while financial activities workers rose by a paltry 6K in September.

And that is why America continues to have no wage growth aside from mandatory minimum wage increases, which however as we reported before, may generate higher wages, but it also leads to far fewer hours worked, resulting in flat or declining aggregated compensation.


Offline SirLinksALot

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MORE HERE:http://www.zerohedge.com/news/2016-10-07/part-time-jobs-soar-430000-multiple-jobholders-surge-august-2008-levels

Part-Time Jobs Soar By 430,000 As Multiple Jobholders Surge To August 2008 Levels





if only looks at the unadjusted data, the spread between part and full-time jobs explodes, with some 1.2 million full-time, unadjusted, jobs lost in September, offset by a surge in 1.3 million part-time jobs.



But perhaps even worse than the breakdown in September job quality, was another seldom-touted series: the number of Multiple jobholders, or people who are forced to hold more than one job due to insufficient wages or for other reasons. It was here that the red flashing light came on because as a result of the 301K monthly surge in Americans holding more than one job, the 5th highest monthly spike in the past decade, the total number of Multiple jobholders soared to 7.863 million, the highest number since the financial crisis, and a number surpassed just once in the past decade: in August of 2008, just before all hell broke loose.



It also begs the question how many of the 156K jobs "added" were double counted as a result of a number of multiple jobholders that was double this amount.

So yes: overall job growth continues to chug along, if at a modestly disappointing pace, at least in September, the quality of the added jobs was absolutely woeful.

Source: BLS

Offline dfwgator

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Remember when Democrats called them, "McJobs"?

Offline Idaho_Cowboy

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  • Ride for the Brand - Joshua 24:15
Remember when Democrats called them, "McJobs"?
Yep. The bias depending on who is in office is incredible.
“The way I see it, every time a man gets up in the morning he starts his life over. Sure, the bills are there to pay, and the job is there to do, but you don't have to stay in a pattern. You can always start over, saddle a fresh horse and take another trail.” ― Louis L'Amour