John Ransom

Yes, I know. You seem perfect. You act like you’re perfect too.

But, it’s not me; it’s you.

I say that because you don’t really seem to understand where the problem lies.

The new jobs report was out and man was it disappointing.

169,000 jobs created versus the expectation from economist that 180,000 jobs should have been be created.

It’s not me; it’s you.

Even the New York Times agrees.

“If the economy were to fill the jobs gap left by the recession within the next four years,” writes the New York Times, “around 300,000 jobs a month would need to be created, according to the Hamilton Project at the Brookings Institution.”

And it’s not just the number of jobs that have been created; it’s also the poor quality of jobs that have been created.

Continues the NYT: “Employment gains in the recovery have been disproportionately in lower-wage sectors like food service and retail, causing concern about not only the quantity of the new jobs but also their quality. The industries are more likely to hire part-time workers and operate on just-in-time schedules, making it difficult for employees to predict how many hours they will have from week to week.”

It’s not them; it’s you.

You’ve broken the system.

312,000 people dropped out of the labor force last month. There are 115,000 fewer people with jobs this month over last month.

Yet your statistics say unemployment has gotten better.

Ha, ha!

Your Labor Secretary, Thomas Perez, went on CNBC this week to tout the fact that 90% of all jobs created since the passage of Obamacare have been full-time jobs.

Since Obamacare was enacted through July, only about 20% of jobs created have been full-time.

“According to a survey by the U.S. Chamber of Commerce,” says Forbes, “71% of small businesses say the health care law makes it harder to grow.  One-half of small businesses that must comply with the employer mandate say they will either cut hours of full-time employees or replace them with part-time workers. Twenty four percent say they will reduce hiring to stay under 50 employees.”

This month was a bright spot for full-time jobs, even if the quality of jobs sucked. 

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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