On 10/06/2012 01:22 AM, Pete Theisen wrote:
Hi Everybody,
Liberals, do NOT click this link.
http://m.washingtonexaminer.com/article/2509960
"During the robust Reagan jobs recovery in the 1980s, liberals
regularly dismissed good news by attributing it to the creation of
“McJobs.” So it’s interesting to see liberals celebrating the
September jobs report , in which the headline unemployment figure fell
to 7.8 percent, largely because of an increase in Americans settling
for low paying part-time jobs."
(more)
Unfortunately, Pete, the occurrence of lower paying jobs is a natural
result of any server economic downturn, like a really deep recession or
depression, which is an even deeper economic downturn. There is a simple
cause and effect relationship here, and I think we all know where most
of the blame falls for the cause.
When the economy crashed in 2007 the labor market was shedding jobs at a
rate of 750,000 to 800,000 job per month. The unemployment rate climbed
to about 10%. This resulted in an excess supply of workers. As
economic science has proven, when the supply of good or service exceeds
the demand, the price falls, or stated more distinctly in the context of
employment, when the supply of job applicants exceeds job openings, the
compensation paid applicants falls.
For each job offered during the great recession of 2007 there might be
hundreds of unemployed seeking it. This made for an employer's market.
If an applicant turned down a job due to low pay, the employer might
have 99 applicants waiting in line seeking the job, so an employer had
no problem filling a position with a qualified applicant, even when
offering lower than normal compensation.
Also, because of the excess unemployment, many workers were forced to
accept lower paying jobs outside their area of expertise. Eventually the
economy will normalize with better balance between job openings and job
applicants and a return to a more normal 6% unemployment rate. Such is
the nature of a economic downturn and subsequent recovery.
Regards,
LelandJ
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