80,000 Jobs And Of Those 25,000 were Temp Work
13 months is how long I have no longer been counted as unemployed. That's when the unemployment ran out. Since then we've been surviving on just my wife's salary, which is just above (by less than 2 grand) the poverty level. So even if I wanted to I wouldn't get food stamps or free lunches for the kid or a spot in the local food pantry line. I don't want to, of course, because my father's and grandfather's pride runs deep in me and runs very deep.
Stubborn is what my daughters call it.
The two oldest daughters have been a major help. Buying the groceries (the one who still lives at home) or paying some of the utilities (the Alaskan).
The fourteen year old worries all the time but she won't tell me about it. Tells her mom, though. Tries to give her her birthday money to help out.
I've been told I was too high on the food chain for that job. I've been told this job won't be challenging enough for me.
I've largely stopped answering the house phone (potential employers have the cell phone number), or take it off the hook altogether, because of the incessant calls from creditors I can n longer pay. Dozens of attempts a day from them if I don't answer.
But I don't answer because the story is always the same. I have to explain yet again that yes, I know I had this credit card for 30 years with stellar credit but now all my money is gone and I can't pay you right now.
I've been told I made too much money on unemployment to qualify for a mortgage modification.
I've been told to hang in there. I've been told something will come along. I've been told your ship will come in.
And I'm telling you that no one out here this long wants to hear that. It means nothing. It's a platitude people think will cheer you up. Give you hope.
Maybe at the 3 or 4 month mark, but at 34 months?
One of the bitterest blows came about a month ago. I had an interview with someone who knew me, who worked with me years ago on a big project. And we worked well together. In fact they wouldn't have gotten that project without my input.
I should have been a lock for the job. Had nearly everything they wanted. Interview went well.
I got a thanks but no thanks. And phone calls to them now are un-returned.
But I keep looking, even though any hope my situation will improve left long ago.
It's infuriating to listen to the wonks and talking heads discuss what this means for the President's re-election effort. How about what this means to 25 or 30 million Americans? To America herself?
June Job Creation at 80,000; Rate Holds Steady at 8.2%
The U.S. economy created just 80,000 jobs in June and the unemployment rate held steady at 8.2 percent, reflecting continued slow growth in the economy with the presidential election just four months away.
The Bureau of Labor Statistics said private payrolls increased 84,000, while the government lost 4,000 jobs. Economists expected job growth of about 100,000 and the unemployment rate to be unchanged, though many had increased their forecasts based on some recent indicators.
With yet another month of weak employment growth, the second quarter marks the worst three-month period in two years. The period averaged just 75,000 per month, against 226,000 in the first quarter, which benefited from an unusually mild winter.
May's weak initial 69,000 report was revised upward to 77,000, which made the June growth essentially the same. The April number was revised lower, from 77,000 to 68,000. . .
. . .A measure of unemployment that includes discouraged workers ticked higher to 14.9 percent, its highest level since February, while the labor force participation rate stayed near a 30-year low at 63.8 percent.
Unemployment for blacks surged to 14.4 percent — the highest level of 2012 and up from 13.6 percent in May — while the 11.0 percent rate for Latinos was unchanged over May but also at a high for the year.
Long-term unemployment, or those without jobs for 27 or more weeks, edged lower to 5.37 million, though the average duration of joblessness rose to 39.9 weeks, the highest since February. . .
One-Third of June Jobs in Temp Agencies
The June Jobs Report was dismal enough. The top-line job growth number missed even the low end of expectations and the overall unemployment remained unchanged. But, tucked away in the report was a more ominous sign. Almost one-third of the jobs that were created were at temporary employment firms.
BLS reported that Business and Professional Services created 47k jobs in June, almost 6-in-10 of the total jobs created. Over half of these, though, 25k, were at temporary employment firms. This means that almost one-third of the jobs created were are temp agencies, a clear sign that employers remain hesitant about expanding their payrolls.
This isn't a knock on temp agencies. They provide an invaluable service, allowing companies to be flexible and quickly adapt to changing markets. But, the sharp growth in their business suggest that businesses will explore every option before committing to additional hiring.
Analysts underestimate the incredible drag fiscal and regulatory uncertainty has on business and its hiring decisions. Anecdotally, I know of many businessman who would like to hire, but have no way to calculate what their future obligations will be. Hiring will not start again until this uncertainty is cleared up.
November, hopefully, will provide such clarity.