Skip to comments.The Hidden Rot in the Jobs Numbers Hours worked are declining, resulting in
Posted on 03/16/2014 11:19:46 PM PDT by Nachum
Most commentators viewed the February jobs report released on March 7 as good news, indicating that the labor market is on a favorable growth path. A more careful reading shows that employment actually fellas it has in four out of the past six months and in more than one-third of the months during the past two years.
Although it is often overlooked, a key statistic for understanding the labor market is the length of the average workweek. Small changes in the average workweek imply large changes in total hours worked. The average workweek in the U.S. has fallen to 34.2 hours in February from 34.5 hours in September 2013, according to the Bureau of Labor Statistics. That decline, coupled with mediocre job creation, implies that the total hours of employment have decreased over the period.
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Obamacare at work.
A 40 hr work week will soon be deemed unreasonable if not already.
but Obama worries about overtime.
A 1% drop in 6 months... 2% a year taken from the (already tapped out) consumer ... and they want us to believe the GDP numbers...
The unemployment rate, on top of that, is designed to confuse, not convey accurate information. Otherwise the information would damn the government, so they need to obfuscate it. Why else would they have not one, not three, but SIX UNEMPLOYMENT RATES.
That's right. They are:
The Labor Force Participation Rate
That's why you can only rely upon the "Labor Force Participation Rate". This simple number adds up all the working age people and then tells you how many of them participate in the work force; that is, how many have jobs.
Under Obama, it has crashed.
It is now below 63%
I am so tired of all the lies MY government tells me and my fellow citizens!
It is long past time to run these self-aggrandizing LIEberal sonsofbitches out of town on a rail, tarred and feathered!