Friday, April 2, 2010

Don't Pop Open the Champagne

Calculate Risk:

The number of workers only able to find part time jobs (or have had their hours cut for economic reasons) increased sharply to 9.1 million.

The all time record of 9.2 million was set in October. This suggests the increase last month was not weather related - and is not a good sign.

This has been one of the elements that keeps me a "cynic" in the jobs discussion. I do not find comfort in millions of people being underemployed. The positive numbers on jobs are not as positive when considering those who want more work, but settle for part time in the interim. And 9.7% is not a good number.

The political reality of actually accomplishing job creation is, however highly unlikely. We are not going to get a FDR sweeping jobs program. Our best chance and efforts were watered down in the stimulus. I would like to see a temporary government hiring program of some sort, but of course that is the socialist takeover of the freedom market. I am not sure what the administration can do, but I would at least like a little "Dave" effort. If not only for the theatrics.

I am Frank Chow and I approved this message

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