Saturday, December 8, 2012

Nice graphic showing where a majority of new jobs have been created in the last year. Is this a "Do you want fries with that?" economic recovery???

The graphic below shows the sectors where a preponderance of job growth has taken place in the last year.  The color key for each job category in along the bottom and the number of jobs created is on the vertical axis. The job categories are stacked to show the total jobs created in each sector.
""Leisure and hospitality, health care and social assistance, retail and temporary jobs — all low wage sectors — have been responsible for over half (51%) of the private sector job growth the last year.""---The Big Picture Blog
I ask my students to "go deeper" when confronted with a published headline statistic (whether it is a govt or private sector stat) reported in media.  It often does not tell the whole story.

It is not only the quantity of jobs created, but the quality of those jobs as well. 

I am not smart enough to know if this a good ratio---51% low wage jobs to 49% everything else. It is good for the workers who get those jobs, but what does it say about the overall health and longer-term outlook for the economy?  I don't really know. What do you think?

Source: The Big Picture Blog

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