Daniel Alpert, founder and managing partner of Westwood Capital, however, believes the headline numbers don't reveal the true state of the labor market.
"The US has become increasingly dependent on a subset of Low-wage and Low-hours jobs in the private service sectors for job creation since the Great Recession," he said in a presentation exclusively available to Business Insider. "Low-wage, Low hours jobs have accounted for 60% of all net job creation since the end of 2007, the pre-Great Recession peak employment year."
This slack in the labor market has also correlated with falling productivity and economic growth, Alpert said, calling for "the commencement of a large, government sponsored infrastructure investment program" to reverse the trend.
Here's the entire presentation from Westwood Capital making the case for greater public investment in infrastructure projects.