Monday, March 11, 2013

RealClearMarkets - February's Jobless Report Is Not Cause For Celebration

RealClearMarkets

America's working age population went up by 165,000 during February. Despite this, a net 130,000 people dropped out of the labor force, continuing the most worrisome trend of the Obama years. The number of people with full-time jobs fell by 212,000, while 382,000 Americans took part-time jobs, thus producing the reported 170,000 gain in total employment (which includes everyone who worked at all). "Full-time-equivalent" (FTE) jobs, which we can approximate as the number of full-time jobs plus the number of part-time jobs divided by two, fell by 21,000.


Comment:

The numbers make good headlines, but a deeper look shows it's not what it's hyped up to be.

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