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Retail, Hotel And Temp Workers Account For Half Of All October Job Gains

Tyler Durden's picture





 

Following the quantity breakdown of jobs in the month which saw the third biggest jump in people not in the labor force in history and a loss of over 600,000 full-time workers (don't ask how this is possible - not even the BLS knows), next we look at the quality of October jobs. Or lack thereof. Because the top job-gaining sectors were also the worst of all: Leisure and Hospitality; Retail; and Temp Help, namely minimum wage hotel workers and retailers, amounted to roughly half of all job gains.

Here are the industries with the most gains:

  • Leisure and Hospitality: +53,000 (hotel
  • Retail Trade: +44,000
  • Professional Services +41,000
  • Education and Health: +23,000

But it wasn't all horrible quality job gains: the manufacturing-starved nation is proud to announce it added 19,000 manufacturing workers in October.

Visually:

As to why these jobs "gains" are in fact a net drag on the economy the WSJ shows just how much public benefits workers in the abovementioned "fast growing" industries get courtesy of the government.

 


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Fri, 11/08/2013 - 10:45 | Link to Comment Zer0head
Zer0head's picture

twitter falls

Fri, 11/08/2013 - 12:14 | Link to Comment Stuart
Stuart's picture

When everyone gets it so wrong, the numbers are cooked.  Fully expect seveal of these houses that were predicting to come out with explanatory notes calling BS on today's payroll figures... but then the damage will have already been done. 

Fri, 11/08/2013 - 10:46 | Link to Comment adr
adr's picture

Go Walmart and ToysRus shelf stockers!!!

Fri, 11/08/2013 - 11:01 | Link to Comment Dr. Engali
Dr. Engali's picture

They are called 'retail space management technicians'. Get it right..sheesh.

Fri, 11/08/2013 - 11:28 | Link to Comment AbelCatalyst
AbelCatalyst's picture

I think you meant, "Product Transfer Engineers"

Fri, 11/08/2013 - 15:45 | Link to Comment NihilistZero
NihilistZero's picture

So if you stubtract the benefits paid to their employees from the taxes they pay, is Walmart in the black as far as its trading with .gov?

Fri, 11/08/2013 - 10:47 | Link to Comment Dr. Engali
Dr. Engali's picture

I wonder if the dude who bought Twitter at $50.09 in his IRA yesterday has put a gun to his head yet.

Fri, 11/08/2013 - 10:49 | Link to Comment fonzannoon
fonzannoon's picture

It's statements like that Doc that tell me that deep down you are still not committed to being full retard, and therefore this market has legs.

Fri, 11/08/2013 - 10:55 | Link to Comment Dr. Engali
Dr. Engali's picture

Lol..I'm mostly retarded, and the rest of me belongs in the loony bin after five years of this craziness.

Fri, 11/08/2013 - 10:49 | Link to Comment adr
adr's picture

Maybe Priceline used some of their $1000+ stock to hire people to live in hotel rooms to prop up advertised room rates.

Fri, 11/08/2013 - 10:50 | Link to Comment Dr. Engali
Dr. Engali's picture

A net drag on the economy? Which is the larger net drag, the five billion a month in "benefits" or the 85 billion a month being funneled to the bankers?...That's what I thought.

Fri, 11/08/2013 - 10:50 | Link to Comment HoofHearted
HoofHearted's picture

If you work at a fast food restaurant, who needs the EBT? Just pocket a burger and some chicken nuggets, hide some fries in your backpack, and you can feed the whole family!

Also, we added about 10k more financial services people. Yeah, us!

On the positive side there were some government workers lost. It's a good start.

Fri, 11/08/2013 - 10:54 | Link to Comment Mad Mohel
Mad Mohel's picture

Do the hookers fall under "Leisure and Hospitality" or "Temp Help"?

Fri, 11/08/2013 - 10:57 | Link to Comment Dr. Engali
Dr. Engali's picture

Well I pay them by the minute...so temp help.

Fri, 11/08/2013 - 12:54 | Link to Comment kralizec
kralizec's picture

Either way...if you like rentals, the prices should be coming down a lot with this much supply hitting the streets!  ;)

Fri, 11/08/2013 - 15:55 | Link to Comment NihilistZero
NihilistZero's picture

I know you're making a joke but it's actually really sad how many young girls are going into prostitution because of this FEd engineered dpression who wouldn't have otherwise.  Can't say that I blame them though.  Work a McJob or get several hundred dollars for an hour or two of work?  The social consequences of turning a large swath of our youg women into whores (officially, not just dressing like it) are likely to be severe.

Fri, 11/08/2013 - 10:53 | Link to Comment Sudden Debt
Sudden Debt's picture

I SAID I WANTED MY HAMBURGE MEDIUM BAKKED YOU DIPSHIT!!!

YOU CAN FORGET ABOUT THAT 5 CENT TIP I WAS PLANNING TO GIVE YOU!!!

 

Fri, 11/08/2013 - 11:00 | Link to Comment Mitch Comestein
Mitch Comestein's picture

Question for Tyler and the other ZHers.  Is Obamacare creating new part-time jobs to avoid the mandate out of full-time jobs.  As an example, to avoid the mandate, that two full-timers and cut their hours.  To pick up the slack you add a third employee.  Jackpot, you have three 26 2/3 hour per week workers.  

 

Thoughts?

Fri, 11/08/2013 - 11:02 | Link to Comment Dr. Engali
Dr. Engali's picture

Yes.

Fri, 11/08/2013 - 11:19 | Link to Comment beentheredonethat
beentheredonethat's picture

Bigger issue here
gov now subsidizes every low end enterprise in the country. Hotels, fast food, retail, Makes employment look good, companies hire at low cost and gov picks up subsidies. Not advocating more wage but less snap etc. only problem now is they have over rotated on the subsidies so it makes it better to stay home than work, so labor participation falls like a rock. So what you see is jobs created and deadbeats drop out of the labor force at the same time. Central planning is a bitch.

Fri, 11/08/2013 - 15:59 | Link to Comment NihilistZero
NihilistZero's picture

"...deadbeats drop out of the labor force at the same time."

So if you accept the system for what it is and take the bennies as opposed to working like slave laborers without the free room and board you're a deadbeat?  I'd call it the smartest decsion you could make.  You haven't been able to make the moral argument for hard work among the labor class in this country for the better part of 30 years.

Fri, 11/08/2013 - 14:10 | Link to Comment InflammatoryResponse
InflammatoryResponse's picture

Yes,  we learned this was the case while down in Gatlinburg, TN over the summer.  people went from ONE job at around 40 hours to two jobs at 25 each.  so they're working more getting paid less.  they were quite happy NOT.

 

Fri, 11/08/2013 - 14:34 | Link to Comment InflammatoryResponse
InflammatoryResponse's picture

Yes,  we learned this was the case while down in Gatlinburg, TN over the summer.  people went from ONE job at around 40 hours to two jobs at 25 each.  so they're working more getting paid less.  they were quite happy NOT.

 

Fri, 11/08/2013 - 11:02 | Link to Comment Mitch Comestein
Mitch Comestein's picture

Another question:  How is mining and logging adding jobs when the company margins are being gang-raped every day?

Fri, 11/08/2013 - 11:05 | Link to Comment fonzannoon
fonzannoon's picture

Bitcoin mining.

Fri, 11/08/2013 - 11:14 | Link to Comment Mad Mohel
Mad Mohel's picture

BC mining, as in sitting on your ass surfing porn and eating cheetos? Count me in!

Fri, 11/08/2013 - 11:10 | Link to Comment Occams_Chainsaw
Occams_Chainsaw's picture

Welcome to Costco....I love you.

http://www.youtube.com/watch?v=Z8zNsUTWsOc

Fri, 11/08/2013 - 11:57 | Link to Comment Shizzmoney
Shizzmoney's picture

A nation of (badly) dressed butlers.

At least in colonial times, even the slaves got a nice tux to wear.

Fri, 11/08/2013 - 12:04 | Link to Comment Peter Pan
Peter Pan's picture

And yet the market rises. LOL.

Fri, 11/08/2013 - 12:59 | Link to Comment marcusfenix
marcusfenix's picture

tis' the season.

Fri, 11/08/2013 - 13:18 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Hmmm, the stats don't look so good for Texas -- the land of Freedom and Free Enterprise.  Didn't expect that.

But I fully expect the slide to continue from high-paying jobs (>$50/hr) or well-paying jobs ($25-49/hr) into low-paying jobs ($8-20/hr).

Fri, 11/08/2013 - 14:53 | Link to Comment ZH11
ZH11's picture

You can suck their cocks and clean the sheets afterwards, that's the economy they're producing for your children.

‘’Tis to be a slave in soul And to hold no strong control Over your own wills, but be All that others make of ye.

 

 

Fri, 11/08/2013 - 16:10 | Link to Comment reTARD
reTARD's picture

This is what they call the "service economy."

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