The Dual Labor Markets in America
By
ryan_j_naughton
Crisped on the outside, thoughtful enough on the inside.
Summary
Americans live in separate economic realities: those with a job are likely to stay employed, but those without one are likely to stay unemployed. The labor market is characterized by low hiring and firing rates, with private-sector layoffs at historic lows. Despite a better-than-expected payroll gain in June, the job market remains frozen.
Key quotes
· 3 pulledPrivate-sector layoffs are at historic lows, but that masks a dreadful outlook for unemployed workers or those unhappy with their current positions.
The labor market surprised in June with a better-than-expected payroll gain of 147,000.
That continues the 'frozen job market' trend that has plagued the economy in recent years.
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