Search This Blog

Friday, November 8, 2013

Rosy employment picture ... don't hold your breath


The real story in the WSJ article,In October Jobs Report, U.S. Hiring Picks Up Strongly – Three-Month Average Tops 200,000 Jobs Added” (WSJ November 8, 2013), is in the last paragraph:
 
"Still, the latest data show 11.3 million Americans who wanted a job and were looking couldn't find employment in October. In addition, many workers could only obtain part-time jobs. A broader measure of unemployment that includes discouraged workers and those working part-time, but who want full-time employment, rose to 13.8% from 13.6% in September."
 
Maybe it's time for Waylon Jennings to come out with a re-make, "looking for jobs in all the wrong places."

When the economy went in the toilet in 2008 - 2009, I did some research and came up with  my own back of the envelope calculation about hiring and the projected recovery (http://uva72.blogspot.com/2010/01/unemployment-you-do-math.html).  Written in January 2010, it stated that recovery would take between 58 and 91 months, depending upon one's assumptions and how one chose to place the blame: on Bush or BO.
 
Looks like I may be an idiot savant, which probably qualifies me for a government job.

Remember ...

"You're entitled to your own opinion, but you're not entitled to your own facts," Sen. Daniel Patrick Moynihan.

"Against public stupidity, the gods themselves are powerless." Schiller.

“Who controls the past controls the future. Who controls the present controls the past.” – George Orwell, 1984

"Statistics are no substitute for judgement," Henry Clay

"The problem with socialism is that you eventually run out of other peoples' money," Margaret Thatcher