This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 trends beneath the surface in Nov. jobs report

a¿¿ GRAYER WORKERS

The unemployment rate is just 4.9 percent for Americans older than 65, compared with 7 percent for adults as a whole. Dating to November 2012, the number of senior citizens who either have a job or are looking for one has grown by nearly half a million to 7 million.

In some cases, they kept working after they reached retirement age because their nest egg vanished during the financial crisis. There's another factor, too: Social Security. To receive full Social Security benefits, Americans now have to wait until age 66, instead of 65.

a¿¿ STAGNANT PAY AT THE BOTTOM

Restaurants and hotels created nearly 16 percent of the jobs added over the past 12 months. Those industries are known for paying low wages to their fry cooks and cleaning staff. Fast food chains like McDonald's have been at the epicenter of a battle over low wages, with employees around the country last week staging walkouts.

Restaurants and hotels added 361,000 workers this year. And basic economic theory says greater demand for workers usually leads to higher pay.

So how much did restaurants and hotels have to raise pay to attract people in November? Just 15 cents an hour to $11.80. Based on the average number of hours the industry's employees work each week, that wage is roughly at the poverty line for a parent and child. And since September, leisure industry wages have actually dipped 3 cents an hour.

a¿¿ LONG-TERM UNEMPLOYED

Even as the number of unemployed Americans has fallen nearly 350,000 in the past two months, the ranks of the long-term unemployed have barely budged. They number about 4.1 million. And they're not catching many breaks. Companies are shying away from hiring workers with extended gaps in their resumes.

More than 37 percent of unemployed Americans in November have been out of work for half a year or more, a higher proportion than in October. If most of these Americans continue to be viewed as unemployable, that trend will hold back the economy's growth.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,945.86 +26.27 0.16%
S&P 500 1,983.17 +1.57 0.08%
NASDAQ 4,526.6560 -0.8580 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs