Welcome to the recovery?
Might America be on the path to recovery? The monthly job report for October came out today, and, as reported in The Christian Science Monitor, America added roughly 159,000 jobs last month. Despite this surge in hiring, the unemployment rate remains steady at 9.6%.
While any job growth is welcome news after millions of job losses, it’s important to note that America needs to start creating good jobs, jobs that pay enough for people to get by. While many jobs may have been created, questions remain about whether or not those jobs are secure enough to provide a basis for real, long-term economic growth. As Reuters noted in their write-up:
The total private payroll gain of 159,000 reflected strong gains in retail stores, temporary jobs, health care and food and drink establishments.
America’s long-term economic prosperity will not be rebuilt by adding low-wage seasonal jobs. We need to either find ways to create jobs that are secure and stable, or lift up those who work in low-wage conditions.