Monday, December 08, 2014
'Hold on: Jobs report wasn't so great after all'
Keeping in mind the population is always increasing, how can anything be classified as "good" if the number of Americans working is at a 36 year low...
Jeff Cox expresses a more realistic view:
"A few figures to consider: That big headline number translated into just 4,000 more working Americans. There were, at the same time, another 115,000 on the unemployment line. That disparity can be explained through an expanding labor force, which grew 119,000, though the participation rate among that group remained at 62.8 percent, which is just off the year's worst level and around a 36-year low.
But wait, there's more: The jobs that were created skewed heavily toward lower quality. Full-time jobs declined by 150,000, while part-time positions increased by 77,000. Analysts, though, mostly gushed over the report."