On 10/07/2012 10:38 PM, Pete Theisen wrote:
Hi Everybody,
I remember the unions beating the drums for a 30 hour work week. I
don't think this is what they meant:
http://www.zerohedge.com/news/2012-10-05/reason-todays-unemployment-rate-plunge-part-time-jobs-economic-reasons-surge-most-qe
"The reason is that the number of part-time people employed for
economic reasons soared by 582,000 to 8,613,000, the most since
October 2011, and the largest one month jump since February 2009, when
"restoring" confidence in the economy was all the rage."
8.6 million part timers, who can't get full time. Thank you Jimmy Carter.
I am fairly sure the union wanted 30 hours with a "family wage",
retirememt and full benefits.
It's normal for the unemployment rate to vary sharply on a monthly
basis, often due to seasonal reasons. For example, in September there
are many new openings for part time work in establishments like grocery
store, and fast food and retail chains, as students leave there summer
jobs to return to high schools and the universities. Also, many part
time jobs are created around Thanksgiving and Christmas, but closed at
the end of those seasons.
At the height of the great recession, unemployment hit around 10%. A
realistic normal employment rate today is around 6%. There is only a 4%
difference to bring the unemployment rate down from its high of 10 % to
a normal 6% rate. The unemployment rate has already come down from 10%
to 7.8%; a reduction in the unemployment rate of 2.2% or [ 2.2 / 4 ] =
55% reduction in unemployment. This just leave another 45% reduction to
go. It looks to me like President Obama is delivering on his goal to
bring the unemployment rate down.
http://economix.blogs.nytimes.com/2012/10/05/explaining-the-big-gain-in-job-getters/?nl=todaysheadlines&emc=edit_th_20121006
or
http://tinyurl.com/97s6umf
Regards,
LelandJ
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