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The June Jobs Report was dismal enough. The top-line job growth number missed even the low end of expectations and the overall unemployment remained unchanged. But, tucked away in the report was a more ominous sign. Almost one-third of the jobs that were created were at temporary employment firms.
BLS reported that Business and Professional Services created 47k jobs in June, almost 6-in-10 of the total jobs created. Over half of these, though, 25k, were at temporary employment firms. This means that almost one-third of the jobs created were are temp agencies, a clear sign that employers remain hesitant about expanding their payrolls.
This isn't a knock on temp agencies. They provide an invaluable service, allowing companies to be flexible and quickly adapt to changing markets. But, the sharp growth in their business suggest that businesses will explore every option before committing to additional hiring.
Companies use "temps" and avoid all connected expenses.
Some people think ObamaCare forced insurance will cause even more part time and temp jobs.
That leaves all the regular full time taxpayers to help with the cost of insurance for the part time and underpaid people.
It's Obama's job as the CEO of USA inc. to provide income revenue to cover the spending.
He signs off on everything.
He spent wildly the first two years with a full Democrat Congress with no results so far during the final two years of his presidency.
He needs to provide a better business environment for companies to hire regular employees.