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Where The May Jobs Were: Teachers, Waiters, Retail, And Temp Help
One of the defining features of jobs "recovery" and the main reason why wage growth has been so far below the Fed's expectations for years it has prevented wage inflation from appearing despite years of QE, is that the quality of jobs added month after month has disappointing. May was no difference.
Yes, the headline print of 280K job additions was great, but a quick look at how the BLS got there shows that nothing has changed because four of the five main job additions were, as usual for the lowest paid jobs.
Here is the breakdown:
- Education and Health (i.e., teachers): +74,000
- Leisure and Hospitality (i.e., waiters): +57,000
- Retail Trade (i.e., minimum wage store clerks): +31,400
- Temp Help: +20,100
In fact, these lowest quality jobs accounted for two-thirds of all jobs gains in May.
As for the well paid jobs: Mining and logging (energy workers): down 18,000, Information: down: 3,000, Financial services: up 13,000, and Construction workers: up 17,000 which is not bad, however it is down more than half from April's +35,000.
Incidentally, by consistently adding the lowest quality jobs, not only is the conundrum of America's missing wage growth resolved, but so is the quandary of why US labor productivity has gone nowhere in the past 5 years.
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The recovery mantra plays on despite what the lies are. Good news is good, bad news is good. The end is near!
One of those silly B School mantras I remember:
If PhD's are waitressing, the economy is bad.
Our US office's admin is a brilliant masters degree holder in Biotech and was waitressing on Venice beach when she met one of our co-founders...
Flashing red lights, po po economy.
Everything is pushing it towards three dominant prefessions:
Pimp
Ho
Soldier/less expendable gov.. employee
When the nigger ordered a 30hr work week with no benefits, a company can hire 2 for the price of one.
How's that for numbers manipulation?
Firstly, fuck you Hippo Oaf. Watch your fucking language.
Secondly, the President is a puppet.
Only children and simpletons attack the puppet. Which one are you?
I never said fuck.
Good answer!
So nice to see that our economy is growing in places that produce real tangibale wealth. /sarc
How's that Rand working out for you?
Go "Freedom" Act!
"Clowns to the left of me, jokers to the right..."
So you don't think him bringing attention to the NSA was a good thing? I wouldn't group him in with the others, at least I don't. To answer your question its working out great. Sure I don't like the collection of data without a warrant but at least Rand is speaking up about it and taking flack for it, I respect him for it.
I'd take him over the others.
But, I miss Ron.
Who doesn't but his son plays the game better from a how he deals with the media stand point.
Trust Zerohedge to dismiss these very real jobs (which mean a lot to the people who got them by the way) simply because they do not meet their superior standards. I find it insulting as an American that this website and its readership refuse to recognize the significance of this spectacular jobs report and what it means for our country. Many of the world's most successful people started out as waiters and tellers, and it's absolutely shameful that Zerohedge simply dismisses these hardworking Americans.
Yes, great news, now raise rates or shut the fuck up.
Keep calm
and
raise rates
/sarc :)
Do you write for Newsweek?
I do appreciate it , it was a fake # so the fed can raise rates and save its ass. The stock market is the bond markets little bitch
Real jobs? just what are these " Real jobs " producing that I want to buy?
Grow up dope your logic is way outdated.
Yeah entry level jobs are absolutly needed, however service based jobs do not creat long term growth or wealth. A waiter serves food and beverages. The food and Bervages are tangibles that are produced and consumed. But the Waiter didn't produce them. The person that builds farm equipment is producing a capital good that further produces other goods, that is wealth creation.
Education & healthcare jobs - ?
try minimal pay healthcare minion orderlies - you know cleaning hospital rooms or hallways.
NOT a chance that Educators were hired in April / May at the END OF THE SCHOOL YEAR !
Well, actually some "educators" probably were hired right out of their degree programs. My small town newspaper just last week mentioned that local schools had hired three new teachers for the schol year starting in August.
And some of those "educators" most likely were the AA-degree "teachers" who get hired for $8 a hour in daycare centers.
Anyway, I upvoted the rest of your comment.
I thought it was the game that was corrupt. And evil.
How does that help seperate Rand from the pack?
I don't want the same, tired brand.
Ron has a legacy built on trust. Controlled opposition? Perhaps. But at least he passed the message. That's dangerous!
I want me one of them newly minted supervisory jobs, preferably over some of the 93+ million out of the labor force so I could supervise bunches of non-employed people who don't report to anybody including me. Memo, memo, memo, meeting, meeting, memo, memo, triplicate form, early retirement at full pay with post retirement medical healthcare benefits, all with no supervision, to boot!
The best is the meetings about meetings, or going over what was done at the last meeting with no direction of what to get done before the next meeting.
Who the fuck are you to decide what words need watching? Are you a nigger or something?
In the pimp/ho/soldier world, you'd betteer be selling guns, broads, and whiskey. . .
I believe I am over qualified, but it is entrepreneurial.
I cover both drunk and village idiot here locally.
Very competitive positions.
Going to be deeply ironic when the Fed is forced to raise rates based off of bullshit employment.
"Education and Health (i.e., teachers): +74,000"
If they're lumping together Health with Education, then I'd bet a lot of those 74,000 were $9-an-hour bedpan warriors, aka CNAs et al.
Who hires teachers in May??? I'm throwing the BS flag. College enrollment is down.
29.5 hours/week.
Make sure you sign up with a private insurance conglomerate on Healthcare.gov or the I.R.S. will steal your refund for not being compliant (as in "pliant", easily influenced, yielding, bendable).
Get back to work Gumby's!
Well, maybe in the event of a cashless society they will have convenience of their healthcare insurance cost coming directly out of their paycheck with out a sign up needed. The future bodes well in efficiency and nasty concepts such as problems of compliance will be eliminated.
Miffed
Just imagine the quality of those doctors once they all have to work for free...
Last night I was looking for a patient's location to call his dr with a critical result. I was scrolling quickly through the long list of patients and happen to glance at the list of Drs attached to them. At least 90% were foreign names. Predominantly African and Indian and they were all Hospitalists.
I know where the future is going in medicine and I am very concerned.
Miffed
I WISH the general population could conceive of the far-reaching implications of such a development. Would it be enough to awaken the masses. Sadly, I'm afraid not. Now, if it secured auto-increases in telecom fees....
I am having to spend more and more time trying to make ends meet, and now my wife will have to get a job too. We won't have as much time or money to devote to learning how the world works and fixing it.
It is almost as if ...
Sure, those kind of jobs should easily be able to pay for the $52 Trillion of unfunded liabilities coming our way the next couple decades.
Wait! I though my job would be paid for out of the $52 trillion, of unfunded liabilities......
That's how the bastards gitcha! Heh heh
Silly boys,
You forgot about the the 52 trillion dollar coin.
Don't worry! Be happy! Don't you guys have a Billy Bass Singing Fish? Just push the button, sing along and everything will be fine!
Miffed;-)
Don't you guys have a Billy Bass Singing Fish?
Don't need one, I know this guy: https://www.youtube.com/watch?v=kYlSTvAW1Po
Should only be $148571 from each unit + whatever intrest they keep going. At that price they should double down asap to save now on payment latter.
"goal seek" - that's where the May "jobs" were...
Teachers? In May?
Summer school must be overflowing with Common Core Honor Students.
Teachin' be goin' on like uh Muthafukker up in this piece!
It's probably a huge surge in "White Privilege" indoctrinators, errr... I meant instructors.
Teacher employment numbers should never really fluctuate to any great degree. However, the category is 'Education/Health. With all the extra funding (read: premiums) going into healthcare, it doesn't surprise that a few jobs were added, and will continue to be added as the population ages. As an inflating non-productive segment of the economy, this can only be considered bullish for stocks.
Gota replace all the boomer teachers retireing. Never see in the news how many of those jobs were replacing someone that left/die/retired/etc.... so what do the numbers really mean. I think the participation rate is the true measure of jobs and job growth.
LOL
Education and Health....
Shouldn't they be called government services?
McJobs! We be Lovin' It!
So many good jobs to pick from, I'm not sure why the eCONomy isn't on fire.
This is excellent news. More and more people coming out of college are realizing the demand for educating the next generation is our nations top priority and foregoing entering the private sector and are taking up jobs in our great public education system. Students with Masters and PHDs are putting their hard earned degrees to work to enlighten and inspire the children of the nation.
God Bless America, God Bless Obama.
Dang it! You made me spill my coffee!!
MOAR teachers needed for:
African-Americans studies
Diversity training
English as a second language
Transgender relations
LGBT relations
Law enforcement
I love the smell of indentured servitude in the morning... It smells like desperation.
Forward Soviets>
LOL, use the Obama education funding to become a nurse.
Then the insurance companies and hospitals come around and replace you with massive quantities of H1B nurses from the Philippines.
Had their hope, then got their change.
The 6 lane trans-pacific highways from the Philippines to American hospitals are 'colloquially' referred to as: 'Nursing Mills'... Not sure what the HB-1 (Super) highway from India to the Bay Area is called, but I'm certain there is one...
Just END the fucking FED already!
http://endthefed.org/
https://www.facebook.com/EndTheFed.Org
isnt today Greece default day? everyday we've been bombarded with GREXIT and DEFAULT posts and now that we are actually AT THE DAY there's nothing? WTF ???
You didn't hear? That was all solved with a "bundling" deal.
No they took out an Auto-Equity loan from Wells Fargo.
Greece? Oh, that again. It's all good, after multiple seasonal adjustments.
NO MANUFACTURING = NO RECOVERY!
no JOBS IN MANUFACTURING is not the same as MANUFACTURING
RECOVERY through JOBLESS MANUFACTURING is the way forward
You don't happen to work for that odorless cologne company, do you?
one of these days the categories in which jobs expand will represent actual productive labor
bwaahahahaha sorry couldn't keep a straight face after that
When the Housekeeper at the Motel 6 occasionally changes the bedsheets, I would consider this to be productive labor...
at the top - healthcare, leasure and hospitality
one can deduce from that - life is good everyone happy, keep on doing more of the same
As soon as the sheeple realize it's not worth going into debt to get an edukation, the Univeristy Layoffs and Closings will be biblical!
Yep. That, and online education will CRUSH them.
The 'system' will Claw onto that dying carcass for as long as it can, but the young and vibrant new education horse is outta the barn, as they say. That entire sick and decrepit edifice can't crash & burn soon enough in my view.
I will laugh my ass off when all the Prof. Bald-n-Mcwheezies go belly up and have to find real employment.
80% of academia is a waste of time yes. But that is the rule, 20% always do all the work, 20% get all the pussy etc. Those 20% that make it happen are amazing, and will survive. This extreme build up in academia has in my honest economic opinion to do with two things.
A: the vanished industrial base gives people three choices after highschool. Become a plumber, join uncle bankers meatgrinder... err i mean military, or go to college and "hope".
B: The awesome amount of free government money for colleges without the increased of intellectually capable students led universities to drop standards and deform to account for this increased demand. I don't blame universities for making hay when the sun shines, they have to deal with the economic deformation and remain competitive as well.
Yours Truly,
El Presidente'
I hope so. Mr and my youngest took a road trip 4 years ago and toured colleges in Washington, Oregon and Cali. He told me it was a true wake up call at the shocking waste of money in education. Massive building at every campus. Dorms we practically 5 star resorts with all amenities. It was obvious they were going for the College Experience and education on the side to maintain appearances. Everything was phony to impress and the simple college life we had experienced was long gone.
Our daughter enrolled in community college and we have no regrets.
Miffed
Nearly everything they teach them are lies anyway. save your money, learn a trade.
After guessing right (leak?) earlier in the week and shorting PMs ahead of Friday's number, I almost expect speculators to do some short covering before the weekend and I would not be surprised to see PMs go green on the day.
THe increase in illegal children now eligible for public education was a gift to the teacher unions. Everyone else gets a shit sandwich.
Not sure why anyone would downvote you. NCLR, is that you..?
But you're absolutely right. I work in a related field and this is the only impetus for ANY education-related "job growth:" foreign invasion. The tens of millions of Third World underclass interlopers crashing the gates are a gift to the public teachers unions.
If you stopped the illegal invasion of the United States you'd see a huge downturn in teacher employment, and epic layoffs or forced retirements.
Case in point...Molycorp is expected to file for bankruptcy soon....these are good mining jobs....being beat out by China who can do it cheaper....lets let China have the monopoly..that is a smart idea...
We don't need no stinkin rare earth metals
When China takes the business from the US, everyone wins. Consumers get a lower price, and over in Murrica we get the tradewinds to deliver the clouds of environmental fallout a few days-weeks later.
"Leisure and Hospitality" increases seem about right.
I see more hookers then last year in front of the downtown motel these nights; young lasses stuggling to make a buck to pay for their education giving bjs and quickies.
Step right up, young man! One of '.Gov needs your taxes' hoes will give your 'gun' the oiling it needs to shoot straight. But first, have a double shot of my finest 'Victory Whiskey.' Do you see how the glass catches the light off my everyday-low-price .38 Specials? Surely there is someone in your life that needs the business end of one of these diplomats. . .
Not shocking that education lead May...Plenty of universities allow recent grads to remain on campus and work in their respective depts for the summer. At Rice University, every new grad has the option to take a summer job in his or her dept. I'm sure thats not the only school offering that. And no, those jobs don't pay jack shit, its just a way for those kids to put something on a blank CV.
when will reality set in?
Very sad. I wouldn't mind a career as a waiter, as long as no one tried to tell me that I could be something more. I couldn't imagine putting time and effort into a PhD for that.
Side note: Hopefully the restaurant would be somewhere beautiful.
A job is better than no job.
All jobs you can own a home and support your family on - if you work 3 or 4 of them and never actually see your family, that is.
The historic record shows, only those with low IQ’s can’t be a success in America.
Especially when they are running for elected office.
age pyramid and slowing economy will change the work mix from the past forty years.
Manufactoring happiness, USA is back baby!
Don't confuse wage rates with productivity. Low wage jobs can be productive, and can become more productive. And don't imagine that high wage jobs are automatically productive and automatically become more productive. A typical waiter can learn or be trained to be more productive. The electronic order pads that transmit data directly from the table to the kitchen, the swipe and pay at the table are just two examples. But productivity is very closely associated with capital investment by the business and by training programs paid by the business. That's what has really gone wrong recently. Misinvestment. And reap the misrewards.
Same as April, March, February, January, December, November ad nauseum.
It appears that around 20 millions of waiters, and bartenders have been hired over the last year. Party, Party!
Not bad for a population claiming they cannot afford spaghetti.
Part-time Waiters for Summer ! wow recovery is here !
My 2 cents:
Teachers and Health are a bad grouping. The health care industry has nothing to do with teaching and if we are adding health care administrators for Obummercare at a brisk clip, then that is a huge drain on society, whereas teacher have some redeeming qualities.
Does health include: insurance, pharma and other hidden categories?
Jobs growth, my ass!
Teachers - government employees!
Health - government derived jobs that are a DEBIT, not a CREDIT to the economy. cf compliance needs for the Unaffordable Care Act.
Leisure and Hospitality - Worse than useless! These jobs RELY on wealth; they DO NOT PRODUCE wealth.
Professional Business, Temp Help - TEMPORARY jobs should not be on the list! There is ALWAYS a need for bartenders and waitresses, so, why so FEW?
Retail Trade - get the Hell outta here!
Construction - government employees! cf endless road/highway construction 'work' that is NEVER finished. also, cf. urban area construction unions getting their cut
So, out of six categories, three are flat-out government expenses courtesy of the US taxpayer, one is a net loss, and the other two are utter pieces of shit that mean nothing even when the economy is growing. This is good news?
We're so screwed, we are beyond screwed.
So I guess nobody in the .Gov has access to Daily Job Cuts.com because from May 25 to June 5 there are 10 storys on teachers being laid off or fired.
So I call bullshit on all of this. If you only get your news from the talking shitheads in NY city then shame on you .
Fuck a bunch of statistics. Clearly, these are all new positions opening up for summer work - amusement parks, beer joints, hot dog and hamburger stands.
And the increase in 17,000 construction workers was to build the amusement parks, beer joints, hot dog and hamburger stands.
At 74k ducation and Health - good news is the mean wage is middle incomeish - bad news these are mostly public sector jobs. In the short run bad news for the givernement budgets long term if they actually make a difference a healthier population - but that's really the long term something governement rarely stick with.
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