United States of Underemployment: Dead-End Jobs Prop Up Employment Growth | Breakout - Yahoo Finance:""It's a weird report" says Zachary Karabell, the head of global strategy at Envestnet and founder of River Twice Research in the attached video.
"It's people tending bar.
It's lower wage retail jobs.
It's lower wage health services jobs" that the economy is creating, and "a lot of these are not particularly well paid and they don't have a great future."
And that's a problem.
Not only for the 14-million American who are still out of work and looking to get hired, but more broadly, it undercuts the entire economy.
"If you're earning $18,000 a year as a bartender, that's not going to translate into massive consumer spending," Karabell says.
Nor is it going to generate massive taxpaying either"
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