BREAKING: Top White House economist confirms 94% of jobs created under Obama were part time

h/t Cody McLeod…

From Zerohedge:

Krueger, who until 2013 was also the top White House econo­mist serving as chair­man of the Council of Econom­ic Advis­ers under Obama, was “surprised” by the finding.

Quoted by quartz, he said “We find that 94% of net job growth in the past decade was in the alter­na­tive work catego­ry,” said Krueger. “And over 60% was due to the [the rise] of indepen­dent contrac­tors, freelancers and contract compa­ny workers.” In other words, nearly all of the 10 million jobs creat­ed between 2005 and 2015 were not tradi­tion­al nine-to-five employ­ment.

While the finding is good news for some, such as graph­ic design­ers and lawyers who hate going to an office, for whom new technol­o­gy and Obamacare has made it more appeal­ing to become an indepen­dent contrac­tor. But for those seeking a steady admin­is­tra­tive assis­tant office job, the market is grim. It also explains why despite an appar­ent recov­ery in the labor market, wage growth has been non-existant, due to the lack of career advance­ment and salary increase options for this vast cohort which was hired over the past decade.

The decline of conven­tion­al full-time work has impact­ed every demograph­ic. Whether this change is good or bad depends on what kinds of jobs people want. “Workers seeking full-time, steady work have lost,” said Krueger. He then added, perhaps sarcas­ti­cal­ly, that “while many of those who value flexi­bil­i­ty and have a spouse with a steady job have proba­bly gained.”

Comment Rules

1) If it would get you thrown out of a bar, it will get you thrown out of here


2) Try to keep off topic discussion to the open thread or the forums


3) Ejections will be sending the offender to "commune with the fishes" - notice will not usually be given in advance or acknowledged after execution


4) Confirmation will only be made in cases where an EXAMPLE must be made to "encourage the others"


Loading...