Saturday, January 11, 2014

The new normal

Investor's Business Daily: "How bad is Obama's jobs record? Let's count the ways."

Zero Hedge says to get used to it:
According to the just released Occupation Outlook Quarterly (OOQ) looking at the period from 2012 to 2022 released by the BLS, in the future the US will be in a significant need of jobs, which is good for all those worried that the economy is grinding to a halt, or those demoralized from not having a job for months on end and unsure if this will ever change.
That's the good news.
The bad news is that as in the case of today, the vast majority of future jobs will pay absolutely miserable salaries.
Temp jobs for everybody.  I was checking this Forbes list of the top startups in 2013 and they're nearly all tech startups to do fun things on your smartphone like Snapchat and Tinder.  In short, we're amusing ourselves to death - and unemployment - on Candy Crush.  Instead of big factories full of workers, we have a bunch of kids coding out of a Silicon Valley loft.

Extra - 92 million Americans are checking out.

1 comment:

Anonymous said...

Isn't Obama's jobs record also David Cameron's jobs record, and simultaneously Francois Hollande's jobs record, and Mariano Rajoy's jobs record, and Enrique Nieto's jobs record, and King Abdullah's jobs record, and Xi Jinping's jobs record, and Angela Merkel's jobs record, and...