Forbes: Understanding The U.S. Economy: Lots Of Rotten Jobs
Steve Denning Senior Contributor
Leadership Strategy
When U.S. unemployment is at a 50-year low, why do so many people have trouble finding work with decent pay and adequate predictable hours? A new economic indicator—the US Private Sector Job Quality Index (JQI)—gives the answer: we have lots of jobs, but they are increasingly low-quality jobs.
“The problem is that the quality of the stock of jobs on offer has been deteriorating for the last 30 years,” says Dan Alpert, an investment banker and Cornell Law School professor. The JQI is built and maintained by Alpert and his fellow researchers at Cornell University Law School, the Coalition for a Prosperous America, the University of Missouri-Kansas City, and the Global Institute for Sustainable Prosperity. (As to how the JQI is constructed, see the technical note below.)
So, when tomorrow morning at 8.30 a.m. EST, the Bureau of Labor Statistics announces the monthly official unemployment statistics and the administration trumpets “the best economy in history,” we will know why that isn’t true.
More: https://www.forbes.com/sites/stevedenning/2019/12/05/understanding-the-us-economy-lots-of-rotten-jobs/?fbclid=IwAR2ZCbVlb0xKRm_ggZ3C6HG8PRKQyHhO2_pjN6tUQcvRueQv_8q_W7yoYCU#5a1436502d97
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McJobs, Gig Economy.
- American Jobs Are Getting Worse, New Economic Index Shows-
'American Jobs are Getting Worse, A New Index Shows,' CBS News, Nov. 26, 2019. Excerpts:
- "We discovered that 63% of all jobs that were created since 1990 were low-wage, low-hour jobs."
- "44% of all workers are low-wage workers. These workers make a median pay of just $18,000 a year."
https://www.democraticunderground.com/1016243248
