Nonsequitur: When Is a Decrease in Unemployment Bad News?

May 6, 2013

The Bureau of Labor Statistics report last Friday was mixed. The good news is that unemployment slid down to 7.5% in April. The bad news is why. There was an increase in PART-TIME jobs (probably early summer hiring) with a corresponding decrease in average work week hours. 7.9 Million workers are classified as “involuntary part-time workers” who have experienced forced reductions in work hours.  The average workweek for production and nonsupervisory employees is 33.7 hours. Louis Woodhill discusses the implications of this here.

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