It’s no question that Obama’s presidency has been bad for the national economy. While we have seen unemployment rate fall over the years, the metrics used to measure the all-important number have been constantly questioned by critics, who claim (correctly) that the Obama administration and the Department of Labor are fudging the numbers to make the current labor situation look better than it actually is.
However, many intuitively sense that the job market and economy aren’t as good as the government is letting on.
As reported at ZeroHedge, Harvard and Princeton economists Lawrence Katz and Alan Krueger have conducted a study that concludes that almost all of the jobs added under Obama have been what they refer to as “alternative work.”
They define alternative work as “temporary help agency workers, on-call workers, contract company workers, independent contractors or freelancers,” which are generally unstable jobs that do not have a fixed paycheck or benefits.
The proportion of Americans participating in this kind of work was 10.7 percent in 2005, but has shot up to 15.8 percent in 2015.
Krueger was a top White House economist until 2013, serving as the Chairman of the Council of Economic Advisors to Obama. Dan Kopf at Quartz combed through the exhaustive study and pulled some interesting quotes from the economists. In the report, Krueger said, “We find that 94% of net job growth in the past decade was in the alternative work category. And over 60% was due to the [the rise] of independent contractors, freelancers and contract company workers.”
Meaning that of the nearly 10 million jobs that were created between 2005 and 2015, nearly all of them were NOT the traditional 9 to 5 variety, which is what the government wants us to imagine when they talk about creating jobs.
Obamacare has also incentivized the move to the part-time worker, as it forces employers to provide insurance to those who work a certain amount of hours, so many service and retail jobs have sliced hours to avoid the expensive requirement.
The government does not count those who have given up the job search altogether, nor does it count those who declare themselves under-employed when they calculate the unemployment rate. Add together all of these factors, and the job situation looks more like a crisis.
Obama and his cronies can manipulate the data all they want, but Americans have sensed that something is wrong and they took the first steps to addressing the problem by electing Donald Trump.