It’s Labor Day weekend in a presidential election year, so we’re bound to hear lots of oratory about jobs. “The American people are still asking ‘where are the jobs?’ ” House Speaker John Boehner said earlier this week at the Republican national convention. “We created 200,000 brand-new good-paying jobs!” Vice President Joe Biden said in a Midwest campaign speech aimed at the auto industry.
Everyone wants to be a job creator. But in this economy, some jobs are created more equal than others. Since mid-2009, when the financial collapse bottomed out and the economy began its fitful recovery, the private sector has added 4.5 million jobs, with net increases in each of the last 29 months. In July alone, according to the US Labor Department, the private sector added 163,000 jobs, mostly in manufacturing and health care.