Troubling Jobs Report


By: Mark Hyman

Last week, the government announced employers added 236,000 new jobs.  The unemployment rate ticked down to 7.7%.  National news organizations trumpeted this headline.

Unfortunately, underlying numbers are disturbing.

The potential work-force population is 245 million.  155 million are in the labor force. Divided into two categories: “employed” and those officially classified as “unemployed.”

Anyone who is unemployed and has not looked for a job in the previous month is moved into a third category — “not in the labor force.”  A record-high 89 million are in this category.

Millions of discouraged workers are no longer counted as “unemployed.”  The feds designated 296,000 unemployed as no longer in the labor force.  Just in February.

This explains why the unemployment rate drops even when fewer people are working.  It’s government trickeration at work.

The labor force participation rate — which is the percentage of eligible workers who are actually working — is 63.5%. The lowest rate since Jimmy Carter.   Employment numbers are getting worse.

As for the February jobs report, government data shows there was a decrease of 276,000 full time jobs and an increase of 444,000 part time jobsWorkers are migrating from full time to part time work.  The high cost of ObamaCare is driving this.

[Even state governments are cutting workers' hours in order to avoid the high costs associated with ObamaCare.  This is also driving the high percentage of workers who are working two or more jobs.]

However, the government claims workers are voluntarily switching from full-time to part-time work.

About The Author Mark Hyman:
Mark Hyman hosts "Behind the Headlines," a commentary program for Sinclair Broadcast Group.
Website:http://www.behindtheheadlines.net/

No Comments

No comments yet.

RSS feed for comments on this post. TrackBack URI

Sorry, the comment form is closed at this time.