July 7, 2013
WE PROBABLY SHOULDN'T CALL IT gREAT...
June Jobs: An Employment Report Only a Central Banker Could Love (James Pethokoukis, 07/05/13, Ricochet)
1. The economy lost 240,000 full-time workers last month, according to the more volatile household survey, while gaining 360,000 part-time workers. In other words, the entire increase in the household measure of employment was accounted for by persons working part-time for economic reasons. The underemployment rate surged to 14.3% from 13.8%. [...]3. Part-time America: There are 28 million part-time workers in US vs. 25 million before the Great Recession. There are 116 million full-time workers in US vs. 122 million before the Great Recession. In other words, 19% of the (smaller) US workforce is part time vs. 17% before the Great Recession.
...if it only moved that number by 2%. Obviously a far greater proportion of jobs should be, and will be, part time. Especially if we want to keep the labor participation rate at its historically elevated level.
Posted by Orrin Judd at July 7, 2013 6:28 AM
Tweet