Couple of charts – and conflicting interpretations — caught my eye.
First, Wall Street Daily posted their version of an analysis revealing that over 3-in-4 jobs created in 2013 have been part-time jobs.
Their conclusion: “it’s the scariest chart ever”.
Maybe a bit of hyperbole, but certainly worth watching
Here’s another take on the trend …
Jared Bernstein – Biden’s former economist and co-creator of Obamanomics and ObamaCare – wrote in Politico that we shouldn’t worry.
The percentage of workers who would like to work full-time but can only find part-time work – doubled from about 3% to over 6% during the economic crisis — but is declining from its peak.
Bernstein is technically correct, but …
He doesn’t exactly highlight that the “decline” has been 1/2 percentage point over almost 4 years.
That’s a trend?
And. he conveniently tosses out the increases in the past few months – you know, the run-up to ObamaCare implementation – as statistical noise.
Most important, he chooses a convenient denominator – workers.
Folks who can’t find full-time and drop out of the labor market – you know, that labor force participation thing – aren’t counted as a problem
Suffice it to say that Bernstein’s analysis leaves me unconvinced.
I say we’re trending to a part-timer economy and that ObamaCare mandates and regs are accelerating the trend.