President Donald Trump's first jobs report crushed expectations, with the economy adding 235,000 non-farm payroll jobs in February beating expectations.
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.