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Where The (Low-Paying) Jobs Were Are

Tyler Durden's picture





 

The time has come to look at the quality component of the 175K jobs added in May, so without further ado, let's drill down at where the growth was. Without much surprise, we find that as in months past, the bulk of the job growth continues to be concentrated in the lowest wage jobs:

  • Leisure and Hospitality added the most jobs in May, 43K
  • Retail Trade jobs rose by 28K
  • Education and health added another 26K
  • Temp jobs: the lowest of all paying jobs added another 26K

In summary - of the 175K jobs, 122K was to low wage occupations.

How about higher paying jobs?  Professional and Business Services (ex. Temp) rose by 31K in May, less than the 34K in April, Financial Activities posted a tiny 4K increase compared to 9K in April, Wholesale Trade was up a whopping 8K (compared to 4K in April), and finally Manufacturing jobs declined for the second consecutive month in a row, dropping first 9K in April and now 8K in May.

 


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Fri, 06/07/2013 - 09:33 | Link to Comment aint no fortuna...
aint no fortunate son's picture

Well gee Tylers, who else is gonna serve our masters?

Fri, 06/07/2013 - 09:34 | Link to Comment WayBehind
WayBehind's picture

Minimum wage jobs at McDonalds are waiting for you!

Fri, 06/07/2013 - 09:35 | Link to Comment HulkHogan
HulkHogan's picture

Looks like hotels are hiring maids too. Know Spanish?

Fri, 06/07/2013 - 09:40 | Link to Comment DosZap
DosZap's picture

Minimum wage jobs at McDonalds are waiting for you!

 

Go to ND McD's is hiring enty workers for $20.00 an hour or they lose them to oil field work,min wage start $26.00hr.

Fri, 06/07/2013 - 09:45 | Link to Comment kliguy38
kliguy38's picture

"They" are building a permanent "poverty class"........ worse even than England's two tiered class system..........slaves

Fri, 06/07/2013 - 09:45 | Link to Comment Rainman
Rainman's picture

Help Wanted : Lifeguard....Orange County, CA ......$ 100,000 plus benefits

 http://www.ocregister.com/orangepunch/lifeguards-490717-beach-newport.html

Fri, 06/07/2013 - 09:58 | Link to Comment augustusgloop
augustusgloop's picture

sucking off the government teet. love it. who says service jobs don't pay? 

 

Fri, 06/07/2013 - 11:19 | Link to Comment quasimodo
quasimodo's picture

It's friggin Cali, I'm shocked!

Fri, 06/07/2013 - 11:56 | Link to Comment kchrisc
kchrisc's picture

The absurdity of the trend is revealed when one removes money from the equation. Money just facilitates indirect trade and ultimately one just trades his production for the production of others.

So at the rate things are going Americans will be able to trade their BigMac production for some others bedpan services and then for some cheap Chinese shit from the 69 year old clerks at the DollarStore and then for a little stay at the Holiday Inn (Express?).

Paradise!

Fri, 06/07/2013 - 09:34 | Link to Comment Scro
Scro's picture

Mini Mart is hiring, so is Home Depot. What more could anybody want.

Fri, 06/07/2013 - 09:38 | Link to Comment Mercury
Mercury's picture

Are you in service my dear?

It's 1913 all over again.

Fri, 06/07/2013 - 09:35 | Link to Comment Catullus
Catullus's picture

Obamacare forcing employers to hire part-time because they don't want to hire full time.

Calls for minimum wage increases in 3...2...

Fri, 06/07/2013 - 09:35 | Link to Comment Cursive
Cursive's picture

Still waiting for Joe Biden's 500,000+ a months NFP.  175k isn't enough to maintain current job holders.

Fri, 06/07/2013 - 09:36 | Link to Comment Undecided
Undecided's picture

Just shorted this bad boy!

Fri, 06/07/2013 - 10:15 | Link to Comment Chief Falling Knife
Chief Falling Knife's picture

I'm guessing if we close back above the the 20DMA sometime next week(or hell even today the way this is going).. then it'll be off to retest the highs again inside of 3 weeks from now. 

On my chart we are now back in the trendline from November after spending a whole two days below it(2 days below it, just like mid-April before we were off to new highs).

Also this recent +/- 5% 'correction' might be seen as enough to take the overbought heat off for another run at new highs. 

It's when we get back up near that level that it COULD get interesting, but I admit, I have no clue at this point. 

For all I know, 1800 before June's out.

Fri, 06/07/2013 - 09:36 | Link to Comment FLUSA.com
FLUSA.com's picture

I would think with the news of late the "Information" catagory would be sky high.

Fri, 06/07/2013 - 09:36 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

"To get a good job, you need a good education"........

LOL

Fri, 06/07/2013 - 10:05 | Link to Comment Skateboarder
Skateboarder's picture

Unfortunately most anyone only ever gets a schooling at best.

Fri, 06/07/2013 - 09:38 | Link to Comment SheepDog-One
SheepDog-One's picture

And there you have it...3rd worldization of america and everyones throwing a party.

Fri, 06/07/2013 - 11:08 | Link to Comment silver surfer
silver surfer's picture

+1 , Yes it is really sad to see America becoming a poor nation for decades to come and celebrating. You don't make money on cutting each others hair, a industrial nation makes money by manufacturing of finished goods. Why do nobody understand this? USA is losing its status as a developed industrial nation faster than Spain in the 1600s.

Fri, 06/07/2013 - 09:38 | Link to Comment DosZap
DosZap's picture

This is how we get ALL countries wages on a level field.

Import guest workers(to take away decent jobs), and legalize another 20 million influx, to lower the standard wages even more.

Fri, 06/07/2013 - 09:54 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Here's a fun one for you...Aetna is switching ALL of its IT people to Infosys (india) - they're making everyone in IT become Infosys employees - just copy the wages and benefits and you work for an Indian corporation (more likely a 'world' corporation).  

I'm thinking this is a bigger fucking than anyone can imagine, Aetna will now pay for consulting expenses which means all the real money they make that used to go to salaries and benefits (with appropriate witholdings, income taxes, etc) no longer will be going into the government's coffers.  

You see, using this third world 'money laundering' - Aetna will now pay less taxes while its former employees will pay more.  Inevitably, Obama's New World will require more tax money and the only way to fund the Obama spending is to tax the lower and middle classes where the REAL tax dollars are.   Aetna is typically 'bleeding edge' - so, this will spill over to other companies, if it hasn't already.  

The true irony is the morons, the sheeple that support this guy.   I guess the people 'loved' Hitler, too.  Though Stalin might be more representative.

Fri, 06/07/2013 - 09:57 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

Yep, welcome to tech jobs in the US.

Plus, try getting a promotion if your name is not Sanjay?  Meritocracy?   HA

Screw them all

Fri, 06/07/2013 - 11:10 | Link to Comment jtlien
jtlien's picture

Aetna has IT?

Last time I dealt with them they made Charles Dickens's Jaundice and Jaundice look efficient.

Blind leading the blind.  But then again that was healthcare.

 

Fri, 06/07/2013 - 09:38 | Link to Comment Bearwagon
Bearwagon's picture

"Got a job, got a job, everybody got a job, got a job, got a job ..."

Mungo Jerry, 'Got a Job': http://www.youtube.com/watch?v=d97_ORuRiDs

Fri, 06/07/2013 - 09:38 | Link to Comment BlueStreet
BlueStreet's picture

They are only considered low paid workers until their EBT, Section 8 and Medicaid benefits are factored in. 

Fri, 06/07/2013 - 09:40 | Link to Comment fonzannoon
fonzannoon's picture

"WASHINGTON (MarketWatch) - The Federal Reserve should "get moving" on slowing down its bond-purchase program, said former Federal Reserve Chairman Alan Greenspan on Friday. Asked on CNBC if the Fed should move quickly or in gradual steps to taper, Greenspan replied: "Gradual is adequate, but I think we have got to get moving." Greenspan said markets should be prepared for a much more rapid rise in long-term bond rates than is generally expected.

Fri, 06/07/2013 - 09:48 | Link to Comment pods
pods's picture

Fonz, as soon as long term bond rates rise, the governement will mandate X percent of your 401k go into government debt (for our security).

You can take that to the fractionally reserved bank!

pods

Fri, 06/07/2013 - 09:57 | Link to Comment fonzannoon
fonzannoon's picture

Pods that is being done already.  It is absolutetely being done already.

"Hartford is placing investment restrictions on existing account balances for an array of contracts, including the Director M suite. Certain customers with the Lifetime Income Builder rider will need to reconfigure their investments to meet the requirements. Options include a menu of funds that call for a minimum 40% allocation to fixed income and a risk-based asset allocation model also with an allocation to bonds that's upward of 40%.

Clients who fail to make the adjustment will lose their living benefit altogether, according to the SEC filing."

http://www.investmentnews.com/article/20130606/FREE/130609950

Fri, 06/07/2013 - 10:08 | Link to Comment pods
pods's picture

Thanks for clarifying fonz. I can see a big summertime "crash" that will rile people up and force the government to protect our "retirement security." 

This will lead to some type of advantage (tax, etc) being set up to make treasuries more palatable for retirement funds.

Then when all the herd money is diverted to government debt, Bernanke can ease up on the throttle of QE.

Shit, I just thought, if they don't have that planned already, I just gave them the blueprint!

pods

Fri, 06/07/2013 - 10:29 | Link to Comment GCT
GCT's picture

Pods pulling my 401k at the end of this month.  Most likely headed back into gold with it.  At least I can have something in hand!  Feels good to withdraw it without a tax penaltywhen I reinvest it under my control!

Fri, 06/07/2013 - 12:28 | Link to Comment kchrisc
kchrisc's picture

The key here is that they have been and are stealing our savings indirectly from us via printing and their greed is now so voracious that they are now stealing our savings directly.

And to think that when I was just a young lad I thought the guillotine cruel?!

Fri, 06/07/2013 - 10:34 | Link to Comment tip e. canoe
tip e. canoe's picture

wonder if this jawboning is aimed at consumers to entice them into piling on more debt before that "rapid rise in long-term bond rates".

either that or Alan's trying to speed up the collapse so he can see it before he croaks.

Fri, 06/07/2013 - 09:40 | Link to Comment Nussi34
Nussi34's picture

How about hoolers?

Fri, 06/07/2013 - 09:43 | Link to Comment Dr. Engali
Dr. Engali's picture

What's a hooler? Is that a cooler that keeps things hot instead of cold?

Fri, 06/07/2013 - 09:46 | Link to Comment fonzannoon
fonzannoon's picture

Doc did you see me reach far into the internet wormhole last night and pull truthinsunshine back from the brink? Be careful doubting me on the 10yr. My powers were on display last night.

Also I offered kito a turkey sandwich bet and he turned it into some avocado and goat cheese on foccachia bread with grey poupon and a half double decaf latte.

Either way, I have the dow under 15k at year end. He has the over.

Fri, 06/07/2013 - 09:49 | Link to Comment Bearwagon
Bearwagon's picture

Thanks for pulling TIS back. As for the hat: Use the ole "DOW 10000" one - that should do!

Fri, 06/07/2013 - 09:58 | Link to Comment Dr. Engali
Dr. Engali's picture

No I didn't see that, I'm sorry I missed it. I didn't get to spend too much time reading last night, I had to recover from too much wine the night before. Hopefully he sticks around. As far as the ten year goes neither one of us has won that argument yet, although it did print 2% yesterday. I'm with you on the dow under 15k by year end. If kito wants to lose another sandwich bet , I'll gladly take him up on it. From the sounds of his "sandwich" I wonder if kito is really David Faber.

Fri, 06/07/2013 - 09:59 | Link to Comment fonzannoon
fonzannoon's picture

I would never argue with you. I only argue with ekm.

Fri, 06/07/2013 - 10:00 | Link to Comment Dr. Engali
Dr. Engali's picture

Well that's no fun..I would argue with you.

Fri, 06/07/2013 - 10:04 | Link to Comment fonzannoon
fonzannoon's picture

I said I'm not going to argue with you dammit!

Fri, 06/07/2013 - 10:21 | Link to Comment RSloane
RSloane's picture

I saw that Fonz. Thanks, it was great to see TinS post again.

Somehow, I get the impression what you describe is actually what Kito eats for lunch.

Fri, 06/07/2013 - 10:24 | Link to Comment fonzannoon
fonzannoon's picture

Lol.

Hey Sloane, what are you doing here? Shorting interest rate sensitive stuff? Or are you jumping in here and riding this euphoric wave?

Fri, 06/07/2013 - 10:37 | Link to Comment RSloane
RSloane's picture

I did my bit with SPX yesterday and right now I'm holding steady. I'm not going to make a move until at least Tuesday. Everyday most of us say there is something surreal about the markets, but today I'm really feeling it. I  look at the tickers and feel/think something is way off. I am probably being very wrong and stupid, but I don't want to bet on it. I'm in freeze frame.

Fri, 06/07/2013 - 10:39 | Link to Comment fonzannoon
fonzannoon's picture

yeah this is brutality.

Fri, 06/07/2013 - 09:42 | Link to Comment Agent P
Agent P's picture

Which one of the top three categories do hookers fall into?  I can never remember.

Fri, 06/07/2013 - 09:44 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Keep them kids from revolting by increasing low wage jobs until they realize they are fucked either way. It is only a question of degrees not if.

Fri, 06/07/2013 - 10:01 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Curious about what you've said here...

How long will it take to pay off student loans (only funded by the government now, don't forget) of say, 100k for a four year degree...how long to pay off a 100k loan making about 18k a year when you have to pay for obamacare, a place to live, food, fuel if you choose not to live in a city, oh, and new taxes once those kick in?   Just asking.'

Can you say debt slavery...ironic how the first 'black' president is leading all these kids there like the Pied Piper.

Fri, 06/07/2013 - 10:41 | Link to Comment vlad335
vlad335's picture

How long will it take to pay off student loans (only funded by the government now, don't forget) of say, 100k for a four year degree...how long to pay off a 100k loan making about 18k a year when you have to pay for obamacare, a place to live, food, fuel if you choose not to live in a city, oh, and new taxes once those kick in?   Just asking.'

The young will ask whats the point of working and seek to go on the dole. There are so many 20-30 somethings around here on disability that it is amazing.
That or continue going to school and rack up astronomical debt.

Working and bettering yourself will be a suckers game.


Fri, 06/07/2013 - 09:49 | Link to Comment They trynna cat...
They trynna catch me ridin dirty's picture

There are jobs that create wealth (mining, farming, ranching, manufacturing) and jobs that spend wealth (waiter, Wal-Mart shelver, 7-11 cashier, barista).

You cannot have an economy based solely on the jobs that spend wealth with no jobs that create wealth. Despite what the free traders and Clintonites say, that's not how reality works. You cannot have an economy based upon spending the wealth created by other nations. And we are going to learn that lesson in a big way in just a few more years here.

Fri, 06/07/2013 - 09:58 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Exactly, ying and yang.

Fri, 06/07/2013 - 10:18 | Link to Comment Skateboarder
Skateboarder's picture

I hold the belief that one either makes things or serves things. There are only two options (with nonparticipation being the third and silent option). A maker does not want to be a server, and vice versa.

The only real difference between a hundred years ago and now is that you need a fucking bachelors degree to serve some fat fuck an oversized portion of fries now.

Fri, 06/07/2013 - 09:52 | Link to Comment MFLTucson
MFLTucson's picture

Doesn’t matter what the jobs are or where they came from or what they pay, this is to allow the media to manipulate markets.  The entire economy is a disaster, there is no growth in manufacturing, we are just trading printed confetti and that is ok according to the Bloomberg/Obama News network because the "low information Voter" believes we are in a recovery when in fact, we are in a depression and this also allows the Jewish bankers to rob the middle class and manipulate Gold to their advantage so, the jobs number is really meaningless, it is the spin afterwards that this corrupt group plays on.

Fri, 06/07/2013 - 09:52 | Link to Comment Undecided
Undecided's picture

<---Market shits fan by the end of the day

<---Market flys sky high by the end of the day

Fri, 06/07/2013 - 09:54 | Link to Comment alex_g
alex_g's picture

The trend is intact, with 70% of jobs created paying under middle class (sub $38k) wages.  How consumer spending is staying elevated is beyond me...

Fri, 06/07/2013 - 11:05 | Link to Comment Inshock
Inshock's picture

side note.  there are people working where I work that can not make it on what they are being paid.  base 12.50 per hour plus the neferious bonus.  bonus if your numbers are good.  But some people are still trying to make it with out gov services. it seems to be a losing game.

Fri, 06/07/2013 - 09:55 | Link to Comment venturen
venturen's picture

Long Strippers and hookers ...that is leisure right? Or TEMP Strippers or Hookers.

Short Manfacturing...Stuff?

Fri, 06/07/2013 - 09:55 | Link to Comment mberry8870
mberry8870's picture

Hey tyler,

 

Way to ruin the site by having to look at some fucking advertisement between evey single blog post. Unbleivable.

 

Fri, 06/07/2013 - 10:24 | Link to Comment Skateboarder
Skateboarder's picture

Get this,
https://adblockplus.org/en/firefox

and tack on some of these,
https://adblockplus.org/en/subscriptions

and you're in business pal.

Fri, 06/07/2013 - 09:56 | Link to Comment youngman
youngman's picture

I saw a note today that John Deere was laying off some people...those are high paying manufacturing jobs...

Fri, 06/07/2013 - 10:00 | Link to Comment Bearwagon
Bearwagon's picture

Yeah, but DE is slightly down, so there have some workers to be fired. That's good for the stock, no matter what, isn't it?

Fri, 06/07/2013 - 09:58 | Link to Comment Racer
Racer's picture

How can you say what these 'jobs' were because they weren't real? They were just pretend 'adjustments'

Fri, 06/07/2013 - 10:00 | Link to Comment Undecided
Undecided's picture

Keep calm and Chive on, oops wrong board..

Fri, 06/07/2013 - 10:03 | Link to Comment dcohen
dcohen's picture

USA, a nation of burger flippers

China, a nation of steel and tech manufacturing

Fri, 06/07/2013 - 10:05 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

At least we don't eat dogs?

Fri, 06/07/2013 - 10:17 | Link to Comment IridiumRebel
IridiumRebel's picture

give it time

Fri, 06/07/2013 - 11:05 | Link to Comment They trynna cat...
They trynna catch me ridin dirty's picture

The pit bull population in the 'hood is going to decrease dramatically once the SHTF.

Fri, 06/07/2013 - 11:19 | Link to Comment monad
monad's picture

Yep, the manipulative tech stealers are the close second largest illegal immigrant population. FU CRONIES

Fri, 06/07/2013 - 15:15 | Link to Comment bluskyes
bluskyes's picture

I would hazard a wager, that a real dog is more nutritional than a hot dog.

Fri, 06/07/2013 - 11:08 | Link to Comment Inshock
Inshock's picture

It seems that there are lots of new little restaurants openning up.  Really, is that all we can do now, serve food?  How are you going to pay for a night out?  Ultimately the restaurant will fold for lack of customers.  But you have to give people credit for trying to make an honest dollar.  We need manufacturing and productive jobs. 

Fri, 06/07/2013 - 10:04 | Link to Comment economicminor
economicminor's picture

I just had one of my employees say she was quiting in September because she got a grant to go to school. I said, grant? That means the government is paying you to go to school. She says YES! because she is low income. Crazy country. Just what we need are 55 year old's with AA degrees in Business. She wasn't a very productive employee and didn't want to do the hard work to be sucessful in sales. I just don't know what an AA in business will do for her. I know what it does for the tax payers who are going to fund it.. I'm sure there is some logic in all this that I am missing.. I guess the government can't discriminate on age even though the chances of this investment actually paying off is slim to none.. Again Crazy Country.  This is just an example of how mess up the system has become.

Fri, 06/07/2013 - 10:16 | Link to Comment orangegeek
orangegeek's picture

Leisure and hospitality:

 

"Excuse me, but would you like fries with that?"

 

As far as job growth markets, it doesn't get more exciting than this.

Fri, 06/07/2013 - 10:24 | Link to Comment Gigantor
Gigantor's picture

Great news for the Fed and the banks.

A greater percentage of Americans are now making less and less so that means they will be forced into using credit/debt to make ends meet.

 

It's perfect for them, an A+ outcome.

Fri, 06/07/2013 - 10:30 | Link to Comment Dan Conway
Dan Conway's picture

I am sure it means nothing but manufacturing was down in both april and may.  It is probably attributable to super efficient productivity improvements expected from the implementation of obummercare and not due to decreased demand.

Fri, 06/07/2013 - 10:42 | Link to Comment Tombstone
Tombstone's picture

I don't see much future here when most companies are using their cash to increase dividends and buy back shares.  Where is the investment in plant, equipment and technology?  Then again, rising productivity might mean fewer jobs.  At least the government is investing in the welfare state and keeping the bums happy.

Fri, 06/07/2013 - 10:48 | Link to Comment foodstampbarry
foodstampbarry's picture

The important thing is the bankers are fine.

.... Long Guillotines

Fri, 06/07/2013 - 11:02 | Link to Comment 10mm
10mm's picture

www.dailyjobcuts.com Watch your remaining decent jobs evaporate.

Fri, 06/07/2013 - 11:16 | Link to Comment PiltdownMan
PiltdownMan's picture

Geez, that is AWFUL!

Fri, 06/07/2013 - 11:23 | Link to Comment monad
monad's picture

Prison labor/guards not on the list? Thats the growth sector of tomorrow. 

Fri, 06/07/2013 - 11:46 | Link to Comment kchrisc
kchrisc's picture

"Welcome to the HiltonHosptialBurgerKingGapSuites. What time would you like your bedpan service and would you like some fries or socks with your check-in? The 73 years old bellhop/orderly will wheel you to your room now. Hope your hernia operation goes well and that you have nice stay with us."

Fri, 06/07/2013 - 12:38 | Link to Comment Monedas
Monedas's picture

Where da boyz are .... leisure and hospitality .... GETTING DRUNK !      Buy PALLADIUM .... backed by the full faith and threat .... of the former Soviet Union .... Vlad and da boyz !

Fri, 06/07/2013 - 13:25 | Link to Comment SmittyinLA
SmittyinLA's picture

My neighbors, Socialist welfare parasites are all in "programs", it was really brilliant to require welfare recipients to participate in govt programs that require further govt spending and additional govt hiring. 

 

"we'll give you free stuff, but you have to grow govt, OK? "

OK 

Fri, 06/07/2013 - 17:14 | Link to Comment Monedas
Monedas's picture

I'd have 'em doing calisthenics at 6 am then policing up the litter .... unfortuneatly .... they are not a pretty sight .... at any hour !

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