OPINION: Americans back to work, but at lousy jobs
Continuing the recent upward labor market trend, the Bureau of Labor Statistics (BLS) reported that last month’s payrolls rose by a seasonally adjusted 228,000, beating Wall Street’s 200,000 prediction.
Lots of hoopla surrounded the November report, and on-air analysts could hardly contain themselves. But, they should know better. Few jobs among the newly created would spur employees to buy a new high-end vehicle or book a Hawaiian vacation. In fact, coveted, breadwinning, salaried jobs with benefits are a rarity.
But if job seekers are hoping to land a hotel receptionist, bartending or table-waiting gig, the new norm is crackerjack. Unfortunately, those hospitality jobs average only 26.1 weekly hours, and earnings are a paltry $21,000 annually. Waiters and bartenders hit a new all-time high of 11.8 million in November, an increase of 18,900 for the month.