Every few weeks I see a news article pop up about how the US is creating more jobs. Great and fantastic. The most recent data puts the jobless rate at 5% which is the lowest it’s been since 2008 according to CNN. This is even more excellent news. I do have a question though.
These jobs being created, what industries are they being created in? Long ago we have shifted from a production based economy to a more service based economy. Again, fine for the moment, but I don’t think most service based jobs are good long term occupations. There will come a point in time where certain services will become outdated and not needed or someone will find a way to automate it.
My second question is at what pay level are these jobs being created at? Are we talking about a bunch of entry level positions? Which if I think about it for a moment it isn’t all that bad. It is beneficial to those just graduating/ just entering to work force. However, how about the people with years of experience or higher levels of education and want to move up or place at a higher job level?
Also, are we talking about the traditional 40 hour work week job or whatever the company defines as full time or are we talking about a pile of part time jobs with no benefits?
I’m not trying to be negative Nancy here, but I’m sure I’m not the only person asking these questions. Job growth is great, but if it’s not meaningful sustainable job growth, what’s the point?