Nearly 95% of all new jobs during Obama era were part-time, or contract

Nearly 95% of all new jobs during Obama era were part-time, or contract

Investing.com  | Dec 21, 2016 12:23AM ET

Decline in standard of living for many.

Investing.com -- A new study by economists from Harvard and Princeton indicates that 94% of the 10 million new jobs created during the Obama era were temporary positions.

The study shows that the jobs were temporary, contract positions, or part-time "gig" jobs in a variety of fields.

Female workers suffered most heavily in this economy, as work in traditionally feminine fields, like education and medicine, declined during the era.

The research by economists Lawrence Katz of Harvard University and Alan Krueger at Princeton University shows that the proportion of workers throughout the U.S., during the Obama era, who were working in these kinds of temporary jobs, increased from 10.7% of the population to 15.8%.

Krueger, a former chairman of the White House Council of Economic Advisers, was surprised by the finding.

The disappearance of conventional full-time work, 9 a.m. to 5 p.m. work, has hit every demographic. “Workers seeking full-time, steady work have lost,” said Krueger.

Under Obama, 1 million fewer workers, overall, are working than before the beginning of the Great Recession.

The outgoing president believes his administration was a net positive for workers, however.

"Since I signed Obamacare into law (in 2010), our businesses have added more than 15 million new jobs," said Obama, during his farewell press conference last Friday, covered by Investing.com.

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John Lenkiewicz
John Lenkiewicz

The largest demographic taking those PT jobs are the elderly, whose IRA's 401k's got destroyed in the last financial collapse and now are earning virtually nothing on their savings, forcing them to supplement their income.. Among the 25-50 year old population, unemployment is much higher and those are the people who are suffering.   ... (Read More)

Jan 26, 2017 09:33PM GMT· Reply
Not Blindly Following
Not Blindly Following

I'm not sure who wrote this article but it's incredibly intellectually dishonest. . . Number 1, the study wasn't new, it was written in April, 2. the study wasn't political and covered years 1995 to 2005 then 2005 to 2015 (Ie did not isolate presidency). 3. They author of this article have take alternative work arrangement to mean part time and contract rather than what was written in the study.   ... (Read More)

Dec 22, 2016 03:27PM GMT· Reply
Mark Scott
Mark Scott

he was a failed president who promised change and delivered none. Instead of uniting a country that was ready for an african american president he went out his way to race bait and drive division deep among the poor and middle class why his elites flourished. Now step aside obama and let a leader run the country. Trump has done more as president elect for workers than obama did in 8 years.  ... (Read More)

Dec 22, 2016 01:07PM GMT· 3 · Reply
Siva Arul
Siva Arul

you are allowed to claim unemployment benefit only for 6 months, after that you are considered employed, so all the people who lost the job & pass 6months not counted in this 4.6%, so figure out the real unemployment, no body can fix it, all the companies move to China,Mexico & helping those countries & bring the goods back here and marketing our people, who has no jobs,With governments quantitative easing,corporations have good time,pumping more air Dow 20,000,ordinary people become more more homeless,all the public parks doesnt need security any more, they are fill with homeless.  ... (Read More)

Dec 22, 2016 12:36AM GMT· Reply
Robert Ace
Robert Ace

And something like 94 million not working, but 4.6% unemployment so you know...stats and stuff.  ... (Read More)

Dec 21, 2016 07:21AM GMT· 2 · Reply
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