1.4 Million Manufacturing Jobs Lost; 1.4 Million Waiter/Bartender Jobs Gained
Since 2007: 1.4 Million Manufacturing Jobs Lost; 1.4 Million Waiter/Bartender Jobs Gained
Who says America has a jobs problem? As the chart below shows, the "New Economy" may pay abysmally, but at least it promises a little to everyone (or to paraphrase a famous phrase "From each according to his ability, to each according to his need"). Nowhere is that more obvious than in the chart showing the monthly change in waiter and bartender jobs.
Here is the bottom line: in the past 65 months, or nearly five and a half years starting with March 2010, or when the jobs "recovery" really kicked in, jobs for waiters and bartenders (aka food service and drinking places) have declined just once.
This is a statistically abnormal hit rate of nearly 99%, and one which we assume has everything to do with the BLS' charge of not so much reporting reality as finding loopholes in the goalseeked model to report that the US keeps adding over 200,000 jobs every month or bust.
Putting this number in context, the US has allegedly added 376K bartenders in the past year, and 3 million since March 2010.
And here is another, even more disturbing way of showing the "New Economy" - since December 2014, the US has lost 1.4 million manufacturing workers. These have been replaced almost one to one, with new waiters and bartenders. Win, win for everyone, especially the welfare state and of course, China.