Archive for the ‘Employment – Jobs’ Category

How many freelancers are there in the U.S. workforce?

July 20, 2015

Note that I said  “freelancers”, not “freeloaders” ….

So, how many?


Place to start is with a definition ….

According to a trade group called the Freelancers Union, there are 5  basic types of freelancers:

  1. Independent Contractors: These are the “traditional” freelancers who don’t have an employer and instead do freelance, temporary, or supplemental work on a project-to-project basis.
  2. Moonlighters: Professionals with a primary, traditional job who also moonlight doing freelance work. For example, a corporate employed web developer who also does projects for non-profits in the evening.
  3. Diversified workers People with multiple sources of income from a mix of traditional employers and freelance work. For example, someone who works the front desk at a dentist’s office 20 hours a week and fills out the rest of his income driving for Uber and doing freelance writing.
  4. emporary Workers:  Individuals with a single employer, client, job, or contract project where their employment status is temporary. For example, a business strategy consultant working for one startup client on a contract basis for a months-long project.
  5. Freelance Business Owners: Business owners with  between one and five employees who consider themselves both a freelancer and a business owner. For example, a social marketing guru who hires a team of other social marketers to build a small agency, but still  identifies as a freelancer.

OK, so what’s the answer?  How many?


Nums: More folks saying: “Why work?”

April 8, 2015

It’s not new news that the Labor Force Participation Rate has been falling .

What struck me in March’s  employment stats was that the LFPR is still dropping

LFPR - March 2015

Many economists  say it’s simply demographics — it’s old folks retiring.

Partially true, but certainly not the whole story.


Nums: 2 charts say a lot about the March employment numbers …

April 7, 2015

Last Friday, the President was spinning the 126,000 jobs gain as a continuation of the longest consecutive period of (meager) monthly jobs gains.

OK, I added the meager part …

And, he touted how he’d added 12 million jobs to the economy since he took office.

Not to nit-pick, but it’s 10 million since he took office … 12 million since the slide bottomed out.




OK, so 2 million more people are working since the worst recession since the depression.

That’s pretty good, right?


Nums: Do you see a pattern in the March employment report?

April 6, 2015

Last Friday, the BLS  reported that the U.S. economy added 126,000 jobs.

That’s about  half of the consensus forecast (which was about the prior 12 months average).



Look at the chart and tell me if your see a pattern …


Unemployment claims moving up … anybody notice?

March 6, 2015

A couple of weeks ago, the Administration and its friends were touting that  unemployment claims had dropped to historically low levels … proof positive that the pork-laden, 2009 Stimulus Spending Program worked … albeit 4 or 5 years after the program ended.




There has been a lot less chest-pounding the past couple of weeks.  Wonder why?


Behind the surge in jobs …

February 9, 2015

A lot of chatter over the weekend about how President Obama’s economic policies are – after 6 years — humming.

More than 250,000 more people were employed … but interestingly, the unemployment rate inched up as the labor force participation rate increased a bit.

What’s going on?



A couple of economists at the NBER – the think tank that officially declares when recessions begin and end – just issued a study with an evidenced-based hypothesis …


Gallup: 5.6% Unemployment is a Big Lie

February 5, 2015

I didn’t say it, Jim Clifton, Gallup’s CEO did.

Specifically, he says that he hears all the time that “unemployment is greatly reduced, but the people aren’t feeling it.”

The reason: “The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.” It doesn’t capture the true angst in the job market.

The crux of his argument centers on a “good jobs” metric: the ratio of full-time workers to the total adult population.

That ratio dropped about 5 percentage points during the recession and has recouped only about one of those 5 percentage points.

That’s not good.


Clifton brings those numbers to life in his opinion piece …


The state of the economy in one killer chart …

December 17, 2014

This isn’t it !

This one was in the WSJ last week.

The accompanying narrative was something like “adding jobs – full-time, not part-time —  looking good”.

Earlier this week, we showed that the WSJ data is accurate, but it’s analysis is misleading because it starts analyzing from the depth of the recession (versus before the start of the recession) … and looks at raw numbers of jobs added (without normalizing for population growth).

Again, this isn’t the killer chart, I’m talking about.




Rather, I’ve pulled together my earlier analysis into one simple chart that tells the story …


Folks are still discouraged about the economy … here’s why.

December 15, 2014

It has been a while since we looked into the employment numbers … long overdue.

I was awakened by a WSJ article that put a positive spin on the November jobs report – jobs continue to be added …. and, they’re full-time jobs:

“The economy has seen a net gain of more than 6 million full-time jobs since the official end date of the 2007-09 recession, which was in June 2009. The economy has witnessed a net increase of just 311,000 part-time jobs over the same period,”



Let’s dig a little deeper.

What the Journal says is true, but not complete … and picking to start the chart at the trough of the recession obscures some of the context.


Let’s celebrate the economy … err, let’s wait.

October 6, 2014

Lots of end-zone dancing last week re: the economy.

The President says that all indicators are good, and that folks who aren’t feelin’ it just “don’t get it” because they’re watching FoxNews too much.

Say, what?

Let’s look at the ultimate measure: household income.

Adjusted for inflation, median household income dropped 8% during the recession … and has been flat after bottoming out a couple of years ago.

That means that the median real household income is still down 8% from the pre-recession peak.

Hard to get excited about that, right?




The drop in median household income has come despite a steady increase in average hourly wages … they’re up about 10% since the official end of the recession.

That’s before inflation, but the Feds keep telling us that inflation is negligible, that shouldn’t matter, right?




Let’s see, average wages are going up, but median household income is stalled at a depressed level.

What’s going on?


Part-time nation: Even on college faculties …

July 24, 2014

interesting factoid from “ What universities have in common with record labels” …

Used to be that the majority of college faculty were on the tenure track … with less than 1 in 3 being non-tenure track “part-timers”.



With the cost pressures that universities face these days, those numbers have completely reversed.

Now, the majority of university faculty s part-timers … and about 1 in 3 are on the tenure track.

And, Quartz points out that there’s increasing separation between content producing “marquee”  profs and “average” profs.

“The ranks of professors will quickly diverge into the 1% and everyone else.”

As the original Grandma Homa used to say; “It’s easy to be good, hard to be great.”


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More on “liberation from the burden of work” … say what?.

July 14, 2014

Last week, we pointed out that the 288,000 jobs gain in June wasn’t all that it was cracked up to be since full-time employment declined by over 500,000 and part-time employment increased by almost 800,000.

For details see: Last week’s employment report in 4 charts …

I thought the spike in part-time employment was a bad thing … a drift to a part-timer economy.

Silly me.

Liberal economist Dean Baker hset me straight in a HuffPost article:
“The Good News About Obamacare in the June Jobs Report”

Here’s Mr. Baker’s spin …


Who really benefits from increases in the minimum wage ?

July 9, 2014

An article in the WSJ this week is causing a bit of a stir.

Titled “Who Really Gets the Minimum Wage”, the report concluded that Minimum wages are ineffective at helping poor families because such a small share of the benefits flow to them.

Specifically, “Obama’s $10.10 target would steer only 18% of the benefits to poor families; 29% would go to families with incomes three times the poverty level.”


How does that happen?




The essence of the dynamic: counter-intuitively, low-wage workers and low-income (i.e. “poor”) families are not the same folks.

According to the article, data from the U.S. Census Bureau show that there is only a weak relationship between being a low-wage worker and being poor.

Three reasons for that:.

  1. Many low-wage workers are in higher-income families—workers who are not the primary breadwinners and often contribute a small share of their family’s income.
  2. Some workers in poor families earn higher wages but don’t work enough hours (and have hours cut when the minimum wage goes up)
  3. About half of poor families have no workers, in which case a higher minimum wage does no good. This is simple descriptive evidence and is not disputed by economists.

Bottom line: Not much help to the well-intended anti-poverty movement.

There’s another “non-poor” group that benefits when the minimum wage is raised..

Glance at the picture above and see if you can guess who that is.


Last week’s employment report in 4 charts …

July 7, 2014

Lots of hoopla last week that the unemployment employment rate dropped to 6.1% as employers added 288,000 jobs

Yep, 288k jobs added … which continues a year-over-year running rate growth in employment of slightly less than 2% …  a little less than real GDP year-over-year growth.

FRED Total Employment  June 2014

But, there’s more to the story.

Let’s dissect that 288,000 …


All the jobs are back … please, hold your applause.

June 9, 2014

According to the Feds, the economy added 217,000 jobs in May … that’s good.

Big deal made of the fact that the economy has regained all of the jobs lost in the finance-induced recession.


But, save the high fives …that’s only part of the story.

The rest of the story doesn’t look nearly as rosy.


Boomerang Effect: Bending the cost curve … the wrong direction.

May 14, 2014

Two related articles caught my eye ….

First, Business Insider reported that “spending on healthcare grew an astounding 9.9% in Q1 … the biggest percent change in healthcare spending since 1980”


The article goes on to say: “Analysts said it’s primarily due to a consumption boost from the implementation of the Affordable Care Act.”

That makes sense.

Some folks rushed to their docs in the last quarter of 2013 to beat the jump in their deductibles and to jump the line ahead those becoming newly insured.

Nonetheless, the fact remains that, adjusted for inflation, America is spending more on healthcare than ever before..

Here’s the big takeaway … (more…)

Boomerang Effect: Bending the cost curve … the wrong direction.

May 8, 2014

Two related articles caught my eye ….

First, Business Insider reported that “spending on healthcare grew an astounding 9.9% in Q1 … the biggest percent change in healthcare spending since 1980”


The article goes on to say: “Analysts said it’s primarily due to a consumption boost from the implementation of the Affordable Care Act.”

That makes sense.

Some folks rushed to their docs in the last quarter of 2013 to beat the jump in their deductibles and to jump the line ahead those becoming newly insured.

Nonetheless, the fact remains that, adjusted for inflation, America is spending more on healthcare than ever before..

Here’s the big takeaway … (more…)

Liberated from work, 806K bolt from job market … UE rate drops.

May 5, 2014

The headline: unemployment rate drops to 6.3%



Boom times in America, right?


Here’s what has me scratching my head …


Employers add 288K jobs … oh, really?

May 5, 2014

The headline: 288K jobs added.

Boom times in America, right?


Here’s what has me scratching my head …

First, some technical background.

There are two  BLS surveys: the Establishment Survey which queries businesses and the Household Survey which queries individuals, i.e. people.

The Establishment Survey is a larger sample, but has a huge data whole – new and small businesses —  that gets plugged with a SWAG.

The Household Survey is smaller (about 10,000 respondents) … but big enough that it’s treated as the gold standard for calculating the unemployment rate.

It was the Establishment Survey that reported 288K jobs were added.

Guess what?

The Household Survey said the opposite … that 73K jobs were lost.



Let’s take this a step further …


Earlier last weeks, the Feds reported that GDP was essentially flat in the first quarter …  only increasing  by 1/10th of a percentage point.



Despite a flat economy, the BLS says that employers were adding jobs like drunken sailors.

Does that make sense to you?

My view: one of the two numbers has to be wrong … either the GDP or the employment numbers … and, given the job losses reported on the Household Survey … I’m betting the 288K job gain is more illusion than reality.


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WSJ: “Rot in the job numbers” … yeah, but a week late.

March 17, 2014

This morning, the WSJ published an editorial titled “The Hidden Rot in the Jobs Numbers ” by Prof. Edward  Lazear, who was chairman of the president’s Council of Economic Advisers from 2006-09, is a professor at Stanford University’s Graduate School of Business and a fellow at the Hoover Institution.

Strong credentials, right?

The punch line: “Hours worked are declining, resulting in the equivalent of a net loss of 100,000 jobs since September.”

No kidding, Prof. Lazear?

Loyal HomaFiles readers are already aware of that … assuming that they read last Monday’s post: Smokin’: Employment growth exceeds expectations … oh, really?

Gotta crow a bit on this one … beat the WSJ by a week.

Here’s what we said last Monday:


Smokin’: Employment growth exceeds expectations … oh, really?

The headlines are that 175,000 jobs were added in February.

Proof positive that the Obama economy is kicking in.



Hate to rain on the parade, but ….


Smokin’: Employment growth exceeds expectations … oh, really?

March 10, 2014

The headlines last Friday were that 175,000 jobs were added in February.

Proof positive that the Obama economy is kicking in.



Hate to rain on the parade, but ….


Nums: Are women still at a disadvantage in the workplace?

February 27, 2014

According to a  WSJ poll

“Women in large numbers believe they face more discrimination in the workplace than in other situations.”


= = = = =
The “disadvantages” include lower pay than men …


Salute: High praise for garbagemen … really!

February 20, 2014

Last week, Pelosi. et. al., were lauding how ObamaCare was “liberating millions of Americans from the burden of working at jobs they don’t like.”

Simple thesis: just hang on the couch and let taxpayers foot the bill for your food, phone and, now, health insurance.

Why work?


Right when I  was about to get terminally discouraged, I decided to go fetch our mail … on one of those windy, below-zero days.

At the mailbox, my faith in the American spirit was refreshed.


What happens when the minimum wage is raised?

February 19, 2014

President Obama is pushing to raise the minimum wage to $10.10 per hour.

Interesting play

$10.10 … not $10.


To make folks think that he thought about it … that $10.10 is some kind of magical optimum.

Putting that silliness aside, the rationale is well-intended: get low-earners closer to a “living wage”

The major argument against the move is econ 101 … and empirical evidence.

The below chart – from AEI’s Mark Perry —  cuts to the chase.


The chart plots the level of the Federal minimum wage against the number of percentage points that the teenage unemployment rate is over the all-inclusive unemployment rate.

Implicitly, the analysis assumes that the bulk of minimum wage jobs go to teens … and, measuring the differential (instead of the gross rate) normalizes to the overall state of the economy.

The conclusion is stark: when you raise the minimum wage you lose jobs.


But, some folks argue that economic life is better for the minimum wagers who retain their jobs.

Not so fast …


More re: Labor Force Participation Rates

January 17, 2014

Earlier this week, I posted a chart showing that the LFPR among Blacks (the Fed’s data series description)

My observation was:

Black’s LFPR increased by about 7 percentage points since the mid-1970s (earliest that the data is reported) to 2000 – when it peaked at about 66% …. the rate has dropped to just over 60% …. the declining trend has steepened.

A loyal reader suggested that I put those numbers in context … and linked me to a chart that displays all of the Fed’s demographic categories.

His observation: the recent trend has been fairly consistent across all racial categories,

  • Key: Hispanic = purple; White = green; Black = orange



Note that in the late 1990s,  LFPR’s were roughly equal for all groups

Since then, Hispanics have run above average LFPRs …

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Nums: Labor Force Participation Rate hits 30 year low …

January 13, 2014

One of the big headlines last Friday was that the Labor Force Participation rate continued to fall December (which is why the unemployment rate ticked down despite paltry job growth).

More specifically, the LFPR is down more that 4 percentage points since the financial crisis hit.



Let’s put the current LFPR is perspective: Now, about 62.5% of the able-bodied adult population either has a job or is actively looking for one.

Said differently, over 37% don’t have jobs and aren’t actively looking.

Let’s drill down to a couple of demographic groups ….


Nums: Unemployment rate drops again … oh, really?

November 1, 2013

Feds say that “economy continues to recover … as indicated in the drop in the unemployment rate to 7.2%”.


Great chart from Wall Street Daily:



Conclusion: Apparent improvements in the unemployment rate continue to be mostly a reflection of a declining labor force participation rate … more and more folks dropping out of the labor force and staying home.

Frustrated by dim jobs’ prospects or satisfied with the government safety net programs .. or both?

Draw you own conclusion.

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Nums: The jobs report in 4 charts

October 25, 2013

The bruhaha re: the ObamaCare systems implosion overshadowed the belated September jobs report.

To get you up to date …


Nonfarm employment increased by 148,000 in September … analysts were expecting 180,000 … which is about the average for the past 12 months.




Importantly, jobs are being added disproportionately in services (think hotels & fast-food places) … not in manufacturing.




And, there’s more to the story …


Jobs: The story in 3 charts …

September 9, 2013

The Feds reported that the unemployment rate dropped to 7.3% … despite tepid job growth – fewer jobs added than expected, and those that were added were in retail & hospitality.

Most analysts quickly pointed out that the unemployment rate dropped because the number of people dropping out of the labor force was about twice the number of jobs added.

In technical jargon, the labor force participation rate dropped to a 35 year low.




A complementary metric that combines the effect of the Unemployment Rate and the Labor Force Participation Rate is the Civilian Employment to Population Ratio – the percentage of the working age population that has a job.

That rate dropped about 4 percentage points during the recession … then has flatlined during the “recovery”.

That is, job growth has barely kept up with population growth.




What about my favorite?  The downmixing to more part time positions?



Nums: Before today’s employment report …

September 6, 2013

Here are some data points in advance of this morning’s BLS Employment Report.

Gallup’s daily tracking report indicated a surge in the unemployment rate … averaging 8.5% … getting as high as 8.8% during the month.



Source: Gallup

More data …


Nums: Gallup says unemployment surging …

August 22, 2013

You may remember that the BLS reported tha, for July,  the unemployment rate continued its decline … all the way down to 7.4%.


Good news. right.

Not so fast …


Jobs: More on the part-timer trend …

August 12, 2013

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 …


Nums: Cutting to the chase on the jobs numbers …

August 5, 2013

We’ve been frequently posting about the way employment is “down-mixing” from full-time to part-time jobs.

I personally think that the mix change is one of the most important trends in the economy.

Finally, the trend has become so significant that even the mass media has started reporting on it..

Last Friday … the BLS headline was “Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent.”

High fives, right?

Not so fast.

Yep, total private employment went up 114.186 million … an increase of 162,000 jobs  … that’s true.




And, though the job growth was below expectations and below the number usually cited as being required to keep the unemployment rate constant … the increasingly flakey unemployment rate dropped to 7.4%

That’s good news, too … right?

Not so fast.

Here’s the HomaFiles Employment Index … the way to cut to the chase on the employment numbers …


Not to worry about part-time jobs … say, what?

July 25, 2013

MarketWatch had a piece scolding folks who are saying that we’re becoming a part-time economy.

The essence of their argument:

1) Employment data is noisy and June was a blip

2) Since the bottom of the recession, FT jobs have been increasing fater than part-time jobs





Let’s dig a little deeper …


Why the Fed’s QE isn’t booming the economy …

July 24, 2013

Two related articles caught my eye …

First, the Washington Post editorialized that:

The only part of the Obama economy that has flourished  is Wall Street.

Only the trickle-down from the wealthy financial players, who have thrived off the conveyor belt of money as it travels from Washington to Wall Street, has had much of a positive effect on the economy as a whole.

Let’s break down the economic fundamentals.

First, a chart showing the “conveyor belt of money” …



Note that the M1 money supply increased from about $1..4 trillion in 2009 to today’s $2.6 trillion.

Shouldn’t a cool $1.2 trillion more in supply of money get the economy cranking into overdrive?

Here’s the rest of the story …


Why are 74% of small businesses planning to cut hours and fire workers?

July 19, 2013

According to a survey by the U.S. Chamber of Commerce ,,,

The answer has little to do with the Fed’s threat to tighten monetary policy.

Though 77% continue to think the U.S. economy is on the wrong track, most small businesses are optimistic about their local economy and individual business.


So, what’s up?


Work: “And, give me some fries on the side …”

July 17, 2013

The Feds keep reporting steady job growth.

What gets obscured by the headline is that t there’s a fundamental shift happening in the workforce.


Source: ZeroHedge

Here’s what’s going on …


Nums: The labor market in 3 charts …

July 8, 2013

There were high fives last Friday when the BLS reported a level unemployment rate and – based on the employer survey– 195,000 new jobs.

The numbers from the household survey were less rosy … a gain of 120k jobs.

Still, positive job growth.

Here’s the rub …

The new jobs (and more) were part-time jobs … up 360k on the population survey.

In fact, full-time jobs declined in June by 240k jobs.



Let’s put those numbers in a historical context …


Nums: How high is your state’s unemployment rate …

June 24, 2013

Interesting chart from Calculated Risk … plotting the unemployment rat – by state – from high to low.

Here’s the chart … below are some highlights.







Feds: “Hire ex-cons … we do” … say, what?

June 17, 2013

Let’s connect a couple of dots from recent articles that caught my eye…

The first is a NY Post exclusive that the “State Department has hired agents with criminal records”.


Here are the details … and a couple of odd twists.


Nums: Gallup says unemployment rate to go up …

June 7, 2013

The BLS numbers get reported at 8:30 this morning.

I always reference Gallup as an indicator.

For May, Gallup’s seasonally adjusted U.S. unemployment rate was 8.2%up .4% from 7.8% in April.




My bet: weak jobs growth ( probably 125,000) … but BLS will find a way to keep the official unemployment rate constant at 7.5%



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Nums: The most worrisome employment number …

June 6, 2013

Interesting chart in today’s WSJ … I’ve added a few highlights.

Basic point raised in the article: The reported drop in the unemployment rate is masking a more fundamental weakness in the job market.

As we’ve harped before, the employment to population ratio is down about 5 pp from the pre-crisis long-term average … and despite a decline in the unemployment rate, the employment to population ratio has stayed flat over the past couple of years.

The culprits keeping the employment to population ratio low:

  • bona fide unemployment – too few jobs
  • demographics -old folks retiring
  • social programs – extended unemployment
  • faux disability enrollments

Our prior analyses allocate about 1/3 of the drop to demographics, about 1/2 to lack of jobs and the rest to social programs and disability bumps.




Note from the employment to population chart …

1) The 20 year pre-crisis trend …. hovered around 63%.

2) The steady increase during the 1980’s … you know, the Reagan years … more growth, fewer handouts.

3) The similarity in the levels during the Carter and Obama years … coincidence?

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Nums: The impact of demographics on the LFPR …

June 6, 2013

Business Insider reports that …

Bank of America economist Michelle Mayer has put out a note on one of the more controversial subjects in economics these days: the Labor Force Participation Rate.

The Unemployment Rate has been grinding down, but everyone has noticed that Labor Force Participation has dropped as well, and it’s been argued that the exodus of people from the workforce (who no longer count as unemployed when they’re not working) undermine the idea of workforce improvement.

BI – repping for Team O — takes delight observing that: “Mayer’s note comes down firmly on the side of saying that the decline in Labor Force Participation is largely secular, and not primarily about the economic malaise.




Hold your pants on, BI.

Here’s how & why Mayer’s analysis overstates the secular impact and understates the economic impact.


Nums: More on the rise of part-time work …

May 10, 2013

Yesterday we posted “Connecting the dots: ObamaCare may be creating jobs!”

The punch line: many companies are reported to be down mixing their work forces by reducing full-timers to part-time status … and hiring additional part-timers to fill their needs.

Today, let’s look at some macro numbers.

Total employment dropped 8.2 million during the recession.

5.3 million of those 8.2 million jobs have been recovered … but total employment is still down 2.9 million from its pre-recession peak.

Note that total employment is up 1.4 million since President Obama’s Inauguration in January 2009.

Keep that number in mind … 1.4 million.


Things get more interesting with a little drilling down …


Nums: THE way to look at the employment numbers …

May 10, 2013

In a  couple of the past week’s posts we’ve been exploring the employment down mixing from full-time to part-time jobs.

I personally think that it is one of the most important – and least reported trends in the economy.

Flashback to last Friday … the BLS headline was that 165,000 jobs were added in April and the unemployment rate dropped to 7.5%

That news flash elicited giddy re-reporting … e.g. Business Insider’s “STOCKS GO WILD AFTER AWESOME JOBS REPORT” … “awesome” and all caps,

Yep, total employment went up 165,000 jobs … that’s true


But, here’s the rest of the story …


Jobs: A generation lost ?

May 9, 2013

Editorial in the WSJ today titled Meet Generation Jobbed

Punch line: With youth unemployment and underemployment at persistently high levels, “our kids are starting to look and sound like Europe’s smart kids—despondent and resigned.”


Here are the facts underlying the conclusion …


Part-timing it: Retailers adding employees … and cutting hours.

May 8, 2013

According to IBD

Retailers – prepping for the ObamaCare mandates — are cutting workers’ hours and reclassifying them as part-timers.


Here’s the data


Connecting the dots: ObamaCare may be creating jobs!

May 6, 2013

You read that right.

The obvious has become evident to me …

The BLS reported that employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent,


Memory jogged back to last week’s post re: the increasing number of part-timers:

Obvious question: how many of the 165,000 were part-timers?

According to the Fed’s data base, part-time employment increased by 229,000.

If true, that means that full-time employment dropped.

Hmmm again.


What’s going on?


Nums: The April jobs report … Sequester creates jobs?

May 3, 2013

Here’s the headline: “Non-Farm Payrolls Rise More Than Expected, Up by 165,000 in April; Unemployment Rate Drops to 7.5%”.

I guess that the Sequester – rather than inhibiting job growth – actually spurred job growth.

Not really.

But, it means team Obama will have to re-write its press release for today.

= = = = =

Reminder: April ADP’s number was  159k … 30k below the consensus forecast … and, ADP revised March down by about 20k jobs..


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Nums: The shift to part-timers …

May 2, 2013

In a prior post, we reported that middle income jobs were disappearing … apparently down mixing to lower income jobs.

Here’s more …

The NY Times reports that about 7.6 million Americans working part-time jobs are doing so reluctantly, and would rather have a full-time job … that’s about 3 million more than there were when the recession began at the end of 2007.

Most of the part-time jobs are in retail and food service … where companies are throttling full-time employment in advance of ObamaCare penalties.


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