OMG, CNBS Speaks Reality On Jobs?!


Hoh hoh hoh…… who is this guy on CNBS right now?

He’s talking about the hours worked in the last payroll report.  What did I say last month?

This is a problem.  If we look at the “employed” figure of 143,724,000 people a drop of 0.2 hours is a full-time-equivalent decrease of 1/2%.  Applied to the employed population this amounts to an imputed economic decrease of 718,620 jobs!

That is, the loss of work-week hours of just 0.2 is the same economic impact as firing 700,000 people!

I’ll be damned.

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