Part-time nation

  • by:
  • 08/21/2022

According to the U.S. Bureau of Labor Statistics, the unemployment rate ticked down to 7.4 percent. In reality there is almost nothing to like about the July jobs report - a report that comes days after we learned that the GDP grew an anemic 1.7 percent last quarter.

Here are some of the lowlights:

  • There were 162,000 new jobs in July. Expected: 180,000. Here's how stagnation looks in context, courtesy Marketwatch.) 

cbs

  • With the full implementation of Obamacare looming, it is no longer deniable that it is hurting growth. Of the 953,000 jobs created in 2013 only 23 percent were full-time. That means that 731,000 part-time jobs have been created. Here's what it looks like in context (via Forbes):

forbes

calculated risk

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Follow David Harsanyi on Twitter @davidharsanyi.

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