New Job numbers analysis

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posted on Aug, 12 2005 @ 01:18 PM
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This comes from some "hard copy" reading I was doing this week, and have not done the "link" hunt to put the benediction to it, but please do bare with me and take it as gospel that the numbers are easily pulled & my reading was of business periodicals & not Playboy.

July has been totaled, and tax-cut corporate welfare evangelists have praised to the high heavens the near quarter million new jobs for the month.

BUT

Out of the 207,000 new jobs created, 181,000 were in the private sector. And of those, 177,000 were in the "domestic service" sectorThat means a full 98% of July's new jobs were the kind of low-payin', burger-flippin', dirty-sheets-washin', rich-peoples'-garden-tendin' jobs that barely fetch minimum wage, tips included.

Put it another way… if a mere 2% more of July's new jobs were shiiitty service sector jobs, a full ONE HUNDRED PERCENT of July's new jobs would be #ty service sector jobs!

A business mind I used to greatly respect used to say: "Numbers - torture them enough, and they'll admit to anything"

"But look at this economy's growth!!" Unrealistic to keep shouting that when new graduates & GI Bill babies are rolling into jobs that couldn't pay their schooling on the best of days.

Here's another insight: companies go by "utilization" percentages these days like gospel. It's anotherpoint the evangelists I mentioned above getthemselves all sticky about. The corporation gets 150% out of someone, as an example, which is great for the corporation, but to the worker it means that he's done his + half of someone elses job. It equals great stock numbers for the company, upon dug down review, and in turn, give the administration much to crow about on how the markets are doing great while they're in office. That workers rights litigation has all but been crippled, and the laws governing what corporations can do with pensions & against unions happens to coincide with all of this is......well, ....connect the dots.






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