The View From 1776

Another Look At The Numbers

      http://www.thomasbrewton.com/index.php/weblog/another-look-at-the-numbers/

The Obama administration’s spin meisters call latest jobs reports proof that stimulus spending five years ago, coupled with the Fed’s loose money (currently $85 billion of phony money created out of thin air every month), have produced a solid jobs recovery.

Investors’ Business Daily editorialists disagree: America’s Job Recovery Is Only For Part-Timers


Quote:

In short, this jobs recovery isn’t solid. It’s pathetic.

It’s even worse when you consider all of the net addition to June jobs — repeat, all — were part time. Compared with the 360,000 part-time positions created, full-time employment shrank by 240,000.

Year to date, only 130,000 full-time jobs have been added to our economy. The rest of the jobs — 557,000 — have been part time.

And tucked deep into the jobs report was this little tidbit: The underemployment rate, which measures those working in a job for which they’re overqualified, or working part-time when they really want full-time work, shot up from 13.8% to 14.3%.

This isn’t a solid jobs report. It’s a crisis.