09:56 – I’ve seen several articles about the US private sector creating 200,000 new jobs in July. The problem is, most of those shouldn’t be counted as real jobs. Depending on who you listen to, since Lehman kicked off the crisis the US has created about two new jobs for every three that were lost as a result of the crisis. The problem is, most of those three jobs were real jobs and most of those two jobs are garbage. I mean, if a job lost paid $40,000/year with full benefits and a job gained pays $8/hour part time or temporary with no benefits, how can anyone claim with a straight face that the new job makes up for the loss of the old one?
The government collects all the data needed to provide honest employment figures, but they never do. I mean, removing people from the unemployed category when they’ve given up looking for jobs because there aren’t any available is simply dishonest. We need to dump the whole idea of unemployment rates and substitute employment rates. What percentage of adults aged 18 to 70 are employed, and at what level? Temporary and part-time jobs should be separate categories, as should jobs that pay less than, say, $20,000/year, as should government “jobs”. The reason these figures are not easily available is that people would be stunned to find just how small a percentage of adults have real private-sector jobs. You know, ones that involve actually making something or providing a service that people are willing to pay for voluntarily, as opposed to ones that involve extracting money from taxpayers and transferring it to the pockets of the otherwise unemployable.
I guess LinkedIn thinks this young woman is too pretty to be an engineer. Morons.