The latest jobs report was another notch of subpar job creation for the country. What needs to be taken into account is that summers usually are not good for full-time jobs, as teens and college students enter the market for seasonal employment. There is something I have noticed in my six years of being in the workforce.
Employers have found the key: Hire two part-time employees instead of one full-time worker. That way, wages are kept lower and businesses are less obligated to provide benefits. Not to mention that when things get slow at work, people are sent home. People trying to pay bills and provide for themselves and families are sometimes expected to work a full 8-hour day but are sent home after an insufficient amount of time because their services "are not needed." Simply put, businesses are wiggling out of providing sufficient income and benefits to employees who desperately need them during these tough economic times.
Want to know why unemployment is high? Because of all these part-time employees that aren't considered "employed" by the Bureau of Labor Statistics in its monthly report. These employees are less likely to get raises as well, keeping their income low and providing, basically, just enough to "get by." This is what is causing demand to go down and the cycle to become even more exacerbated because consumer spending represents 70 percent of our gross domestic product.
Corey Golden, BaltimoreCopyright © 2015, The Baltimore Sun