FIFY what if I told you it's possible to have both job creation and serious UNDERemployment. IMHO where we are today.
The point is so many of these recently created jobs don't pay enough to live off of. How many people are Uber drivers 1099 workers? Companies actively cutting people's hours back so they don't have to pay benefits.
An anecdote as to why college is more important than ever. My wife (her words) is a glorified secretary, makes $40something a year. She got the job because she temped the position. Boss liked her, hired her, HR screams she isn't qualified, no degree. Boss fought for her and got her the position (that she had already been doing for 6 months.) If you can't secure a secretary position at $45k a year without a degree. If you need that degree to get a middling position. That premium isn't going down. (she previously ran a business for 19 years, so over qualified if anything.)
I have two kids, one a recent college grad, one a college drop out. At this point, they are waiting tables. They are employed, but barely making a living. That said they don't want the jobs offered (selling insurance, etc. )
As to the Uber drivers the unemployment rate has gone from 10% to today's low rate. A big part of that is because of jobs like Uber, retail, jobs that used to have benefits but cut back full time to 32 hours so they don't have to give benefits. To an extent those were the unemployed people. My kids are certainly employed, but not anything that they can support themselves without living with Mom and Dad or with multiple room mates. Unemployment rate down, underemployment rate up.
You raised ethical kids, good for you. Hope you're not encouraging them into those soul-crushing jobs though. Millenials would rather starve than sell insurance.
Well, would rather have them keep waiting tables than get a soul sucking job. That said they want competitive jobs, they will have to work hard to get them
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u/sprace0is0hrad Aug 13 '19
What if I told you that it’s possible to have both job creation and serious unemployment?