FOR IMMEDIATE RELEASE:
Larry Rubin, Managing Partner of Talent Partners – A member of the Sanford Rose Associates® network of offices, Featured in Occupy, Yes, the U.S. Unemployment Rate is Low, But so is the Job Quality Index
Plano, TX 1/7/2020
By: Matt Higgins
The Bureau of Labor Statistics’ November jobs report released on Dec. 6 showed a 50-year low unemployment rate of 3.5 percent, with 266,000 jobs added. This signals a strong economy. But another recent report, from the Coalition for a Prosperous America, shows that while the quantity of jobs has increased since the Great Recession, the quality of jobs has decreased.
The November federal jobs report shows the health care sector leading the way with the number of jobs added, followed by manufacturing and hospitality. Nevertheless, wage growth actually dipped by a tenth of a percent, and wage growth has slowed this year compared to last year.
Some analysts counter that the shift in jobs is a necessary transition toward training workers for high quality jobs of the 21st century. “Corporate America is addressing it, which they hadn’t before. The new way is to re-skill workers,” said Larry Rubin, managing partner of Talent Partners LLC.