3/10/2010

New Fox News piece: The Truth About Unemployment

My newest piece starts off this way:

According to Friday's announcement by the Labor Department, the nation’s unemployment rate remains unchanged from the previous month at 9.7 percent. The number was generally greeted as good news by the media. The Wall Street Journal's headline reported "Outlook Brightens for Jobless." The Los Angeles Times headline said: "Employment outlook brightens in U.S., state." But the cheeriness overlooks the fact that most of the new jobs are largely temporary, part-time jobs. And not the types of jobs workers held before the recession.

36,000 jobs were lost in February, according to the Labor Department's survey of businesses, up from the 26,000 lost in January. Nevertheless, the increase in job losses is viewed by some as good news because fewer jobs were lost than the 50,000 the 20 forecasters surveyed by Reuters had expected. Claims are made that jobs could very likely have been added if it wasn't for the snow storms on the East coast, but no empirical evidence is offered. Cutting down the number of work days may have delayed people being hired, but it might just as well delayed some employees from being laid off.

While the unemployment rate held steady at 9.7 percent in February, the percent of the workforce "employed part time for economic reasons" rose from 5.3 to 5.7 percent. They work between 1 and 34 hours per week, according to the Bureau of Labor Statistics, "because of an economic reason, such as their hours were cut back or they were unable to find full-time jobs." . . .

Labels: , , , ,

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home