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Discussion: (10 comments)

  1. Seattle Sam

    Want to bet that if the numbers had been much higher, they would have been released on schedule?

  2. I calculated from the just released Household Survey there are 212,000 MORE Multiple Job Holders (in the 3 major categories they break them down in) in Sept than there were in August (NOT seasonably adjusted). Did people WITH jobs “crowd out” new entrants or re-entrants into the labor force? That does not seem to be a “blip”.

  3. I think the last chart is in error. It looks as though the two lines meet on the right. I think it is more accurate to say that, while unemployment was reduced in the short term there is likely to be at least some price paid in the long term. So I expect the unemployment in 2014 and beyond to be a little higher WITH the recovery plan.

    1. mesa econoguy

      And you are correct.

      Here is the corrected chart, with actual unemployment rate overlay –

      http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/10/With%20Without%20Recovery%20Plan.jpg

    2. The last chart is what the administration said would happen. It bears little resemblance to reality.

  4. Perhaps the growth of part time employment and the decline in full time employment is waiting for the re-imposition of the employer mandate. The previous anomalous blip in part time employment coincidentally ended when the employer mandate was delayed. Funny coincidence that.

  5. The full time employee count starts 1 year prior to imposition of the employer mandate. The first six months of the year saw an increase of just 72K full time jobs – the balance were all part time. As John H states correctly, the part time increase ceased with delay of the mandate. Now that we know what the reaction will be in the field, we can predict another round of full-time to part-time conversion starting in January of 2014.

    Unintended consequences are a hallmark of liberal legislation. That’s called economics to most of us.

  6. Benjamin Cole

    Job growth dead, inflation dead. The Fed? No, not dead, just asleep…

  7. John Mcaluney

    Yes, James. We waited 3 weeks for a government employee to hit send for Timmy G’s “Welcome to the Recovery” Dance Party.

  8. Jason Prather

    Well now that the shutdown is over my grandmother who’s been dead a while can finally go back to the nursing home and not have to eat dog food, and is in no danger of having her corpse thrown over a cliff in a wheel chair!

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