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Steve McIntosh Report Blog

Jobs: good news and bad news

The good news is the national unemployment rate fell to 7.4%. The bad news is, that’s still too high … and the job part of the economic recovery is taking way too long to suit many Americans.
The good news is the economy created 162,000 new jobs in July. The bad news is, the jobs created were either low-paying or part-time, or both. The Associated Press reports part-time work accounted for 65% of the positions employers added in July. Low-paying retailers, restaurants, and bars supplied more than half of July’s job gain.
Part-time work has made up 77% of the job growth so far this year.
Average hourly pay fell 2 cents in July to $23.98 an hour.
The economy has changed dramatically in recent years. Beyond skilled labor and professional positions, the right kind of education is necessary to fill good jobs. Employers seem to want workers with specialized education to do specialized work.
Our thought for today is from Eric A Burns:
“Greatness is more than potential. It is the execution of that potential. Beyond the raw talent, you need the appropriate training. You need the discipline. You need the inspiration. You need the drive.”

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Topics : Labor
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People : Eric A Burns

08/08/2013 1:09AM
Jobs: good news and bad news
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