Thursday, September 27, 2012
First Kohl's and then Walmart announced that they are planning to hire huge numbers of people. This news was treated as being an indicator that the economy is turning around because it is a bigger number than last year. Nothing could be further from the truth, this was not news. These companies are taking on seasonal staff. The number is bigger because they are hoping for better business nothing more but we need to look at the kinds of jobs they are hiring. They are part-time and minimum wage and many who work them already have other jobs. In other words they have very little effect on the unemployment number. What they do is help the 47% and those nearly in the 47% pay bills. These are jobs that the 1% and the media really don't understand.