Grand Rapids, MI -- (ReleaseWire) -- 07/17/2013 -- It is difficult to stay abreast of everything that is happening financially in the United States today. Dennis Tubbergen, a financial advisor, author, radio show host and CEO of PLP Advisors, LLC can be counted on to give a hand when it comes to understanding the latest events in U.S. and world economics.
Whether people enjoy his monthly newsletter at www.moving-markets.com or his blog at http://www.dennistubbergen.com, Tubbergen is dedicated to sharing his viewpoints and opinions. On July 16, 2013 his blog was titled Can You Name America's Second Largest Employer?
"You could probably easily name the nation’s largest employer as Wal-Mart," began Tubbergen. "But, could you name the nation’s second largest employer?
It might surprise you to discover that the nation’s second largest employer is Kelly Services, a temporary worker agency."
Below Tubbergen quotes from a July 8, 2013 article in The Washington Examiner.
Behind Wal-Mart, the second-largest employer in America is Kelly Services, a temporary work provider.
Friday's disappointing jobs report showed that part-time jobs are at an all-time high, with 28 million Americans now working part-time. The report also showed another disturbing fact: There are now a record number of Americans with temporary jobs.
Approximately 2.7 million, in fact. And the trend has been growing.
In the first quarter of 2013, U.S. staffing companies employed an average of 2.86 million temporary and contract workers, according to the American Staffing Association. This represents a 2.9 percent growth from the same period in 2012. For just the month of June, there was a 6.7 percent growth in the number of staffing jobs than last year.
Temp jobs made up about 10 percent of the jobs lost during the Great Recession, but now make up a tenth of the jobs in the United States. In fact, nearly one-fifth of all jobs gained since the recession ended have been temporary.
It's a sad state of affairs for our country. While part-time and temp jobs reached highs last month, full-time jobs decreased by another 240,000. The recovery, or lack thereof, is being fueled by a shift from full-time to part-time work.
"This article points to the biggest flaw in the way the unemployment numbers are calculated," explains Tubbergen. "If you are working part-time but would prefer to be working full-time, you are considered to be employed and your work status is not reflected in the reported ‘headline’ unemployment rate."
Tubbergen goes on to say, "That’s why the headline unemployment number seems somewhat tolerable but the reality for many American workers is worse than the reported number. Given the current state of the economy, I expect this trend away from full-time work toward part-time work will continue."
To read the blog in its entirety go to http://www.dennistubbergen.com and select his July 16, 2013 entry.
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.
About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of PLP Advisors, LLC and has an online blog that can be read at whttp://ww.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to www.moving-markets.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.