Friday, July 5, 2013

Is That All There Is?

CNBC is reporting a good jobs report:
  • unemployment does not budge: remains at 7.6%
  • job growth below the magic number of 200,000
  • the entire "increase" in jobs was due to part-time hiring
  • full-time hiring actually decreased
  • area of greatest growth: bartenders and fast-food restaurants
  • "we're adding just enough jobs to keep with population growth; in other words we're trading water"
  • the number of people employed part-time for economic reasons (in other words, not because they want to) increased by 322,000 to 8.2 million in June; this is a material increase and one that is concerning
I assume Joe Biden wrote the CNBC headline.


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