Keeping the New Normal normal.
Jobless claims for the preceding week were revised down to a gain of 358,000, from a previously reported 360,000.
Employers are just cutting their full time to 29 hours and hiring part time for 20 hours.
And I’m betting that when a small business that’s growing gets to 49 employees that the strategy will become to start an entirely new business in their same line with new management and a profit-sharing contract. And they will go to 49 employees, and they to 49, etc.
So, I guess this means to pay attention to super-small cap.
So 34,000 more Americans can’t find a job and have run out of benefits. Outstanding job mr. pretender!
The big statistic in this month’s report is the increase in part-time jobs - 320,000. So of the 180,000 “jobs created” 320,000 of them are part time.
This might seem a bit confusing. But what you’re seeing is the cannibalization of existing full-time jobs which are being turned into part time jobs.
Obama’s equation for “creating” jobs...?
If an employer needs someone to work 40 hours a week to meet his need, the government can show an increase in jobs if we turn that one 40-hour per week job into two 20-hour per week part time jobs.