Tuesday, August 6, 2013

"On-Call Scheduling"

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U.S. stock market performance this year reminds me of the Goldilocks economy of the 1990s. Economic growth is only averaging a 1.4 percent run rate, which is hardly anything to write home about.

We created just 162,000 jobs last month. Friday's report only missed consensus by a small margin, but hours worked ticked down once again. Unfortunately, a large number of jobs being created are part-time. There are secular and political forces in place that support a continuation of this trend.

While none of this is constructive for job seekers or the real economy, a weak jobs report isn't necessarily bad news for the markets. Corporations are lean, mean, fighting machines and have learned to produce more with less.

Some employment trends like "on-call scheduling" are hitting workers and their paychecks hard. In retail, many employees are forced to call-in a few hours before their shift to check if they are needed for the day. Others may be sent home early if the company finds it is overstaffed given the workload.

More @ Money News

2 comments:

  1. You'll notice it never says "net new jobs" only jobs created. Nor does it say "net new full time jobs"

    curious, that.

    ReplyDelete