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:
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 ….