Writer Paul Craig Roberts makes a very good observation about the recent July, 2005 announcement by the Bureau of Labor Statistics (page down after the link)The bureau announced that in July about 207,000 jobs were created, but it's all in the numbers. Of those 207,000 jobs about 13% (26,000) were tax-supported government jobs. Of the remaining 181,000 private sector jobs
98% or 177,000 were in the domestic sector:• 30,000 food servers and bar tenders;
• 28,000 health care and social assistance:
• 12,000 real estate;
• 6,000 credit intermediation;
• 8,000 transit and ground passenger transportation;
• 50,000 retail trade; and
• 8,000 wholesale trade.
In otherwords, not jobs that actually created a product that could be sold or traded, nor positions that actually required any kind of advanced college degree. The economy of the future is now.