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Contributors The Truth Behind the Latest Job Numbers
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Since the September numbers were released last Friday, the headlines have all been trumpeting one thing: Unemployment in the U.S. edged below 8% for the first time in the last four years.
Some claim this is a sign of major progress in our economic recovery. Others claim that this isn’t enough of an improvement. Both groups are missing the real message within these numbers.

While the quantity of jobs has increased, the quality of those jobs definitely hasn’t.

As I wrote about last week, America is becoming a nation of burger-flippers. People can’t find higher-wage, full-time jobs, so they end up shifting into low-wage, part-time positions.

The latest numbers reflect this trend. Since September 2007, the number of people working full-time in the U.S. has dropped by almost six million. During the same period, the number of people working part-time for economic reasons has almost doubled, reaching 8.5 million in September.

This chart from Zero Hedge shows the severity of the trend:

See larger image

Yes, the unemployment rate has dropped. But the jobs that are being created are part-time, don’t pay as well and are no substitute for the higher-wage jobs that we’ve lost.

This does not bode well for our economy in the long-term. And as long as the economy is struggling, the Fed will stick to its zero interest rate and money-printing policies.

That means traditional income sources will also continue to remain useless for the foreseeable future.

So even though the headlines may proclaim this latest data as good news, looking past the headlines shows it for what it really is. The job market remains very weak. So the Fed is going to continue crippling traditional income sources.

It’s up to you to focus on alternative methods of generating the income you need. I am currently putting together a free report on some ways to escape the trap the Fed has set for you and how to continue to generate meaningful income.

If you want to make sure you receive it immediately when I release it later this month, click here to get your name added to our priority list.


Evaldo Albuquerque
Senior Analyst

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