Borrowed from Zeev's thread
From The King Report on the real jobs picture:
The NY Time’s Bob Herbert writes, "A startling new study shows that all of the growth in the employed population in the United States over the past few years can be attributed to recently arrived immigrants. The study found that from the beginning of 2001 through the first four months of 2004, the number of new immigrants who found work in the U.S. was 2.06 million, while the number of native-born and longer-term immigrant workers declined by more than 1.3 million." Low-paying gigs are the new economy. nytimes.com…..
We keep harping that most of the US’s meager job growth is in low-paying gigs. Morgan’s Stephen Roach echoes that view in a 7/22 NY Times op-ed piece: "By industry, the leading sources of hiring turn out to be restaurants, temporary hiring agencies and building services. These three categories, which make up only 9.7 percent of total nonfarm payrolls, accounted for 25 percent of the cumulative growth in overall hiring from March to June. Hiring has also accelerated at clothing stores, courier services, hotels, grocery stores, trucking businesses, hospitals, social work agencies, business support companies and providers of personal and laundry services. This group, which makes up 12 percent of the nonfarm work force, accounted for 19 percent of the total growth in business payrolls over the past four months." nytimes.com… |
