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Where is the recovery? Did we spend ourselves into success yet?

Forums - Politics Discussion - Where is the recovery? Did we spend ourselves into success yet?

http://finance.yahoo.com/blogs/daily-ticker/become-nation-hamburger-flippers-dan-alpert-breaks-down-145831220.html

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At 162,000, the July jobs report fell short of expectations and well shy of “whisper” numbers for payroll figures above 200,000. In addition, job tallies were revised down for May and June and average hourly earnings fell 0.1% in July, the first decline since October.

The data disappointed Wall Street economists but are consistent with the trends Dan Alpert, managing partner at Westwood Capital, cited in a recent report: “The fact is that the U.S. employment situation is more of a wounded beast than a bull,” he writes.

Related: Jobs & President Obama: A Close Look At His Record

According to Alpert’s analysis, 69% of the jobs created in the second quarter – and 57% in the first half of 2013 – were in the three lowest-paying sectors of the economy: retail trade, administrative and waste services, and leisure and hospitality. These jobs, which account for 33% of all private sector jobs, pay an average of $15.80 per hour.

“What you’re seeing is now the spreading of low wage growth,” he says, noting those trends continued in Friday's July jobs report. “Really we have become a nation of hamburger flippers, Wal-Mart sales associates, barmaids, checkout people and other people working at very low wages.”

The growth of low-wage jobs helps explain why the majority of Americans continue to believe the economy is in recession, despite a falling unemployment rate – now down to a four-year low of 7.4% – a record-setting stock market rally and a rebound in the housing market."

 

So with all the money the feds have spent propping up the housing market, and on green job creation, and health care. Where are the jobs? Where is the growth? Have we even hit the bottom? I am just not seeing the results in our recovery. Seems like the stock market is up, and that's about it. What if it falls again, what will we have left to do. The jobs that seem to be created are lower paying than before, and or part time. So has spending our way out of debt started to work yet? When will it? How about infrastructure? Are our roads any better than before? Are our cities building new offices and updating buildings, or are they crumbling due to lack of care and money. How many more cities are going to go bankrupt?



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As I post in another thread. Oh, didnt the wii u sell this much this last month?

We just blow our money on anything and everything. Each gitmo prisoner costs us multi millions of dollars! Defense, etc.

I hate that my taxes go to shit. I like taxes, doing my part, if it mattered.



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Why are administrative and waste services lumped together?

The key, however, are businesses that are scared of the Affordable Care Act. The delay only compounds that, because letting the requirement come into effect would show them how it would impact them, then they can adjust employment to match. The ACA sits as a big unknown on the costs to hirers both great and small.

Now, if they had just done the right thing and offered health coverage in the first place, this wouldn't be happening.



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Mr Khan said:
Why are administrative and waste services lumped together?

The key, however, are businesses that are scared of the Affordable Care Act. The delay only compounds that, because letting the requirement come into effect would show them how it would impact them, then they can adjust employment to match. The ACA sits as a big unknown on the costs to hirers both great and small.


Now, if they had just done the right thing and offered health coverage in the first place, this wouldn't be happening.


Which isn't even getting to the fact that the Personal Mandate isn't delayed, meaning that everyday americans are going to have to pay extra money they shouldn't have.

 

That said.  The ACA is a smokescreen.  Is it effecting hiring?  Sure, but you could still write up some worst case scenarios, don't buy for a fact that the companies don't have a good idea what it will cost them.  They totally do.

 

It's just... the recovery is weak to nonexistant.  It's all built up on the Fed.  ACA is just a good excuse to not spook the consumer.

 

All the recovery essentially went to those with investments.  Though it'll all crash eventually.