With 86 Months Of Consecutive Job Gains, This Is The "Best" Job In The U.S.

http://www.zerohedge.com/news/2017-05-05/86-months-consecutive-job-gains-best-job-us

With 86 Months Of Consecutive Job Gains, This Is The "Best" Job In The U.S.


by Tyler Durden
May 5, 2017 11:03 AM


Well over 5 years ago, we first dubbed the economy under Barack Obama as the "Waiter and Bartender recovery", because while most other job categories had grown at a moderate pace at best, the growth in the category defined by the BLS as "Food Service and Drinking Workers" has been nothing short of spectacular.
How spectacular? As the chart below shows, starting in March of 2010 and continuing through April of 2017, there have been 86 consecutive month of payroll gains for America's waiters and bartenders, an unprecedented feat and an all time record. Putting this number in context, total job gains for the sector over the past 7 years have amounted to 2.345 million or just under 15% of the total 16.3 million in new jobs created by the US over the past 86 months.
.zerohedge.com/sites/default/files/images/user5/imageroot/2017/04/19/waiters bartenders record jobs.jpg][/url]
As a tangent, putting the "waiter and bartender" recovery in the context of America's manufacturing sector, the following chart shows that while nearly 800,000 "food service and drinking places" jobs were created since 2014, over the same period the number of manufacturing jobs created has been just 105,000.
.zerohedge.com/sites/default/files/images/user5/imageroot/2017/04/19/waiters bartender.jpg][/url]

http://www.zerohedge.com/news/2017-05-05/where-april-jobs-were-it-was-all-about-minimum-wage-again


Where The April Jobs Were: It Was All About Minimum Wage Again


by Tyler Durden
May 5, 2017 9:57 AM



April was a month of economic recovery: after a disappointing March, jobs rebounded strongly last month, rising from a downward revised 79K to 211K, providing some validation to Yellen's claim that the recent economic weakness was transitory. And yet, wages once again disappointed, with annual hourly earning growth declining to 2.5% from 2.7%.
How is it that with the labor market supposedly near full employment, and the unemployment rate sliding to another post-recession low of 4.4%, wages simply can not rise?
The answer was once again to be found in the quality of jobs added, because despite the poor headline payrolls print in March, the quality of jobs added that month was actually quite better than recent trends. This is where April disappointed: according to the BLS, the bulk of jobs added were once again in low or minimum-wage sectors such as leisure and hospitality, which added +55,000 jobs of which food services and drinking places workers, aka waiters and bartenders, added another +26,000. Another low-paying sector - education and health - added 41,000 jobs in April.
Surprisingly, of the 39K professional and business services - traditionally a well-paying job category - for the second month in a row employees providing "services to buildings and dwellings", aka "doormen" dominated the category, with 9.9K jobs added.
Looking at retail workers, recall that one of the main reasons for the big March jobs drop was a plunge in retail (also minimum wage) employment, which saw over 27K jobs losses last month, and another 29K in February. That has now reversed, and in April 6,300 retail workers were added.