When we looked at the changing composition in the US work force one month ago, we discovered, to our dismay, that since the start of the Depression, the US labor pool has transformed substantially from a full-time time to an increasingly more part-time dominated one.
Specifically we found that "America has lost 10.5 million full time jobs, offset by a 2.8 million increase in part time jobs" and that "the US not only lost 478k seasonally adjusted full time workers in November but has lost full time jobs for 6 months in a row, for a total of 1.6 million job losses!" In an attempt to further refine this number, we present some TrimTabs data which proves beyond a shadow of a doubt, that the Fed's QE (1, Lite, and 2) efforts, when expressed in labor force "pick up" has been an abysmal failure. To wit: "In 2010, the BLS reports that the economy added 1.12 million jobs.
Almost 60% of these jobs are in one of three relatively low-paying areas—temporary employment (308,000), leisure & hospitality (240,000), and retail trade (116,000)." In other words, of the 1.1 million private jobs gained in the last year, 650,000 or 60% are jobs that have absolutely no real wealth creation capacity, nor do they provide any real benefits. In fact, the retail jobs are becoming increasingly distressed, as more Americans shop online, leading to a job pickup... in Chinese warehousing and QC plants, and the irretrievable loss of even the lowest paying US jobs.
http://www.zerohedge.com/article/how-fed-spent-2-trillion-and-exchange-we-got-650000-temp-leisure-and-retail-jobs
First of all, we're not even creating enough jobs to take care of population increase.. much less get the unemployed back to work. But of the jobs the economy did create.. take a look at that pie chart. They're McJobs. In case anyone doesn't know what "Leisure & Hospitality" is, that's mostly your maids, bartenders and servers -- these are the absolute lowest paying jobs in the United States, with zero benefits. You can't get lower wages than this kind of work, unless folks were to work for free or we re-institute slavery (don't give 'em any ideas).
Sadly for the folks who would take even a cook's job or some such, all these fields are under intense pressure from Mexican and other Latino immigration. Increasingly, Americans can't get these jobs anyway because they don't speak the language -- Spanish.
And all this after $2 trillion in Fed stimulus.. this is the best we could manage. Makes you wonder how bad the jobs picture will look whenever they have to stop the trillions in quantitative easing.
), well, anyway, goldman and friends decided what to spend and where. and, i agree with your list, really, i do! but me thinks you have too much right-wing nuttery in your tea.
