They can’t quite get over their extreme liberal bias to note that this is the state of the Obama economy, but it’s a start!
The American economy has generated 30 straight months of job growth. But for millions of people looking for more work and greater income, that improvement provides little solace.
In March, 7.6 million Americans who want more hours were stuck in part-time jobs, about the same as a year earlier and three million more than there were when the recession began at the end of 2007.
These almost invisible underemployed workers do not count toward the standard jobless rate of 7.6 percent. A broader measure, which includes the involuntary part-timers as well as people who want to work but have stopped looking, stands at 13.8 percent.
Let’s not forget about all the people who’ve dropped out of the jobs market in despair, sitting at levels not seen since the malaise era of Jimmy Carter.
Even for those who have been able to take advantage of the better job market, the opportunities have not been good. Since the economy began to recover almost four years ago, hiring has been concentrated in relatively low-wage service sectors, like retailing, home health care, and food preparation, and in contingent jobs at temporary-hiring companies. For example, nearly one out of every 13 jobs is at a restaurant, bar or other food-service establishment, a record high.
Remember the good old days during Bush’s presidency when the media and Bush hating liberals whined about all the jobs being “bad jobs” because many were low paying, though the unemployment rate was much lower than today and far fewer people had dropped out of the jobs market? Now we see that the Obama economy is about low paying jobs and part time jobs, despite the massive amount of money, much of it (43 cents on the dollar) borrowed by President Obama and Congressional Democrats.
While increases in part-time and temporary work can sometimes be an early sign that employers will soon take on more permanent hiring, many workers have been trapped in such jobs far longer than they had anticipated.
Not in the Obameconomy, where they are now the new norm, and this condition will get worse as Obamacare kicks in and companies scale back hours and jobs to avoid the draconian requirements (which the Times eventually points out).
But, hey, this is what you voted for, America. You thought Obama was cool and super awesome and forgot that his policies have been disasters. So, suck it up.