(From David Ruccio)
The above figures give another reason to not be so optimistic about the official unemployment rate declining to about 6.3%. The type of jobs being created are primarily low wage jobs and presumably jobs with no benefits.
This can be seen clearly in academia where tenure track positions are being replaced by part-time adjuncts (i.e. UMKC).
Other than not supplying decent, livable wages for workers, on a macro scale this is a huge drain on aggregate demand.
No comments:
Post a Comment