Lowest-Paying, Most Dangerous Jobs

Taxi drivers and roofers are two of the most dangerous jobs--and they aren't rewarded for it. Here we look at the top ten lowest-paying, most dangerous jobs in the U.S.

10. Structural Iron & Steel Workers

Dead-end-job score: 17.2

Annual fatality rate per 100,000: 26.9

Median annual wages: $46,140


9. Driver/Sales Workers & Truck Drivers

Dead-end-job score: 14.4

Annual fatality rate per 100,000: 24.0

Median annual wages: $34,550


8. Grounds Maintenance Workers

Dead-end-job score: 14.3

Annual fatality rate per 100,000: 16.8

Median annual wages: $23,970

7. Taxi Drivers & Chauffeurs

Dead-end-job score: 11.6

Annual fatality rate per 100,000: 19.7

Median annual wages: $22,820

6. Roofers

Dead-end-job score: 11.1

Annual fatality rate per 100,000: 31.8

Median annual wages: $35,290

Read more >>

Part-Time Jobs Surge To All Time High

As a reminder: jobs have quantity and quality components. The quantity component was good enough to convince the 10 Year the taper is imminent (if not stocks, which continue to trade dislocated from any and all fundamentals).

But how about the quality? In a word: not good. In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 - an all time record high. Full time jobs? Down 240,000.

And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs. And there is your jobs "quality" leading to today's market euphoria (if only for now). Read more >>

'Discouraged' workers face tough road back to employment

In 2008, Marcey Carver lost her job in the finance department of a Vermont car parts maker that closed its doors after the auto industry went into freefall.

With a degree in molecular biology, an MBA and a master's in accounting, Carver, 58, spent the next year and a half working temporary jobs, landing full-time work in October 2009 as finance director for a small non-profit. After 11 months, she was laid off again.

Since then she’s had temporary jobs, but her search for full-time work has run into a major roadblock.
“You can’t get the job you’re qualified for," she said. “But you can’t get a job you’re overqualified for because they think you’re going to quit as soon as you find something else.”

Carver doubts she'll ever land full-time work and now focuses on just making enough money to pay the bills. Millions of other Americans have come to the same conclusion as the worst economic recovery since World War II has left them sidelined and unable to replace the job they lost to the Great Recession. Read more >>

100 Million Americans Without Jobs

The national unemployment rates gets lots of attention, and lately more attention has been paid to the workforce participation rate since more Americans have given up looking for a job, but we can also see that an astounding 100 million Americans don’t have jobs.

Specifically, these are people who are part of the civilian over-16 non-institutional population who are either unemployed or not part of the workforce. According to the April jobs report, the number of jobless American stood at 100.9 million.

That’s an all-time record and it’s an increase of 26.2 million over the last 12 years. It’s as if we absorbed the entire adult population of Canada and not a single person had a job. More>>

US is Becoming a Nation of Part-Time Workers

As today's NFP report once again showed, the average hourly earnings barely budged at $23.38 from $23.37 last month, and in fact declined on an inflation-adjusted basis. Why? Because as we [Zero Hedge] predicted both in February (and in 2010) the US is increasingly becoming a population of part-time workers, as full time jobs disappear for good, and are offshored abroad at best.

April confirmed everything we had been warning about: in the month, full time jobs dropped to 114,478 from 115,290, an epic drop of 812,000 in full time jobs which was the biggest since... March 2009! The offset? Why a surge in part-time jobs of course, which increased by 508,000 in the month of April.

So while seasonally adjusted, birth/death recasted jobs may have increased by 115,000, the real quality jobs, imploded, which unfortunately is merely a part of a longer-term secular trend as part of the new part-time normal. More...

There's no economic turnaround, just the opposite

In his latest report, John Williams estimates the government is routinely overstating job growth by “230,000 jobs” a month. Using simple math, 192,000 created jobs (according to BLS) subtracted from 230,000 overstated jobs gives you an actual net loss of 38,000 jobs. I called Williams to check my analysis, and he told me it is not that simple because the government’s estimations are “the worst in modern economic history.” Williams says unemployment numbers are “openly misleading” and virtually “worthless.” More...

Fewest Teen Jobs added in June since 1951

calculatedriskblog.com
According to the BLS, only 497,000 teens (ages 16 to 19) found jobs in June 2010 NSA (June is the key months for summer employment). This is the fewest teen jobs added in June since 1951.

Click on graph for larger image in new window.

This graph shows the number of teens looking for work (lowest since 1954) and the number of teens found jobs in June (data is not seasonally adjusted).

This partially explains the large drop in participation rate in June - an extremely low number of teenagers joined the workforce, and this resulted in 256,000 teens leaving the workforce on a seasonally adjusted basis - of the total 652,000 total people leaving the workforce (seasonally adjusted).

Teens not looking for jobs - because the job market is so bad - actually helped push down the unemployment rate!

Fake +290K Payrolls "Added", Real Number Is 36K

290K of which census was 66k and Birth Death was 188k. Hurray -the economy added a real 36k in jobs in April. Still, we are curious how the Chairman will not be forced to discuss tightening after this B/D adjustment inspired number (188K in April B/D, 81K in March). And in the meantime, headlines will read Unemployment back to 9.9%, and Underemployment back to 17.1%. Record jittery market bounces than calms down again. More...

The Real Job Loss Pain Number Is 54%

businessinsider.com
A March survey from Pew shows just how broad the unemployment pain has been felt. When you hear of 10% unemployment, you might imagine 1/10th of Americans experiencing extreme financial stress from the recent recession.

Yet given the unemployment rate's odd methodology whereby it drops people who stop looking for work out of the data, and the fact that American households usually have more than one person, the real 'pain' number is 54% -- over half of American households felt the direct impact of job losses:

Pew Research:

A majority now says that someone in their household has been without a job or looking for work (54%); just 39% said this in February 2009. Only a quarter reports receiving a pay raise or a better job in the past year (24%), while almost an equal number say they have been laid off or lost a job (21%).

Basically, if your household didn't experience un- or under-employment, then you are in the minority. Moreover, as shown above, fully 70% of American households experienced one of the serious financial problems above. Basically, the vast majority of American households was hit extremely hard.

Govt Lied - Revised Job Report Show Nearly 1Million More Jobs Losses Than Reported

Bloomberg
The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time. Click here for a Bloomberg Multimedia interactive visual analysis of the economy’s job losses.

Originally the Labor Department said the economy shed 4.8 million jobs, with most of those losses coming after September 2008. This weeks looming revision shows instead that 5.6 million jobs were eliminated in that time. It also lays bare a fundamental problem the government has when it tallies up the monthly job numbers.

[The fundamental problem is called LYING].

Sprint, Pfizer, Home Depot, Caterpillar, Philips Electronics slash 60 Thousand Jobs

Yesterday US News and World Report calculated that Sprint, Pfizer, Home Depot, Caterpillar, and Philips Electronics slashed 60 Thousand Jobs.

Job Cuts Get Brutal: Sprint, Pfizer, Home Depot, Caterpillar
The job loss tally so far today: 54,500. Cuts are coming across industries as further weakness in the economy keeps major employers slashing away. On the same day it agreed to buy rival drugmaker Wyeth, Pfizer said it would cut 15 percent from its combined workforce (that's a bit less than 19,500 jobs). Meanwhile, Caterpillar is faring poorly in the global recession. It's cutting its workforce by 20,000 including 11 percent of its workforce, or 12,000 jobs, and 8,000 contractors. Home Depot, a lingering victim of the downturn in both consumer spending and housing, said it would slash another 7,000 jobs as it shutters its high-end EXPO business. And finally, Sprint Nextel is eliminating 14 percent of its workforce, or 8,000 jobs. Update: Add another 6,000 to the tally above. Philips Electronics is cutting too.