The US labor market - fundamentally transformed?
A great graphic from today's NYT http://www.nytimes.com/2010/09/01/us/01jobs.html
The article appears to overemphasize the fact that some of the jobs being created are in lower wage sectors. Not surprisingly, finance and construction saw some of the biggest declines. In fact, it is healthy for the US to undergo a structural change that shifts the economy away from an excessive reliance on finance and construction. It is worth noting that the manufacturing sector is doing alright.
An interesting aside:
The increase in new regulations is creating lots of new jobs in regulatory agencies:
http://www.businessweek.com/print/magazine/content/10_36/b4193023855383.htm
