The Labor Department reported the economy created 169,000 jobs in August after adding 104,000 in July. Unemployment fell to 7.3 percent, largely because 516,000 more adults are no longer employed or looking for work.
Businesses continued the shift toward contingent workers. In August, 123,000 more Americans reported working part-time. Since January, the economy has added 813,000 more part-time positions, but only 35,000 full time jobs.
Obamacare's mandates for employer-paid health insurance coverage encourage more part-time hiring. Also driving this trend are the growing importance of services like retailing and hospitality, and rigidity and visceral anti-business campaigns of unions — such as those targeting McDonalds and Wal-Mart.
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Am I thick or what? If 516,000 adults are no longer employed, how does that make the unemployment % go down???
ReplyDeleteI heard two employees in a big box building supply talking about their upcoming reduced hours schedules. Right here in Salisbury, folks.
ReplyDelete9:57
ReplyDeleteBecause those that tally the unemployment numbers stop counting people that have been out of work for a very long time.
The number of people out of work is like 20,000,000. so many of them are just not counted.
It all fits nicely in the plan to make people more dependent on the government...they will have to turn to the gov't for food stamps, assistance with rent/medical...the more people are depending on hand outs, the less likely they are to vote "Santa" out of office!
ReplyDelete