Earlier today, I wrote about the disconnect between the pieces of the November employment report. I pointed out that there is no way that America created jobs and unemployment fell by more while wages sank. Now that there's been more time to look at the numbers, we may have an explanation.
Here are the two statistics that matter: in the last three months full-time jobs lost are -99,000 while part-time jobs added are +638,000. That means that we are having an explosion of part time work and a significant loss of full time work. That mix would explain why average wages are falling.
Maybe a better way to put it all is that things are not doing well. Thank God, Obama is going soon.
Here are the two statistics that matter: in the last three months full-time jobs lost are -99,000 while part-time jobs added are +638,000. That means that we are having an explosion of part time work and a significant loss of full time work. That mix would explain why average wages are falling.
Maybe a better way to put it all is that things are not doing well. Thank God, Obama is going soon.
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