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Dow tops 17,000 after strong jobs report

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  • Dr. Thom Long Beach, CA
    July 3, 2014 3:02 p.m.

    Nancy Pelosi stated "all the job lost during the recession have been replaced" but with what type of jobs?

    There is a difference between getting another job and replacing the one you lost. If someone like my colleague (true story) was a professor, then is laid off but can't find another FT job in academics because 75% of all academic jobs now are PT w/o benefits, and then settles for a job as a waiter at Chili's, that is not the same as replacing the lost job.

    Economist keep saying there have been x-number of new jobs created, but they don't tell us in what sectors and how much they pay. These numbers are useless if you were making $50,000 a year and now make $25,000. Its not the same job.