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.