Quote

'In the end it's not the years in your life that count. It's the life in your years.'
- Abraham Lincoln -

Monday, October 08, 2012

Paul Krugman: 'Truth About Jobs'

If only this Nobel winner knew what "truth" was.

See his latest dance around the truth here.

The latest jobs report released by the federal Bureau of Labor Statistics has him declaring that "the U.S. employment picture [is] getting better."

Why?

"The eye-popping number from Friday’s report was a sudden drop in the unemployment rate to 7.8 percent from 8.1 percent ..."

That's a good thing, right?

Well, to a man who won the Nobel Prize in Economics it is.

But the truth?

The truth that Paul Krugman - oddly - left out?

From the Bureau of Labor Statistics report:

"The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job."

That's right.  Of the 114,000 (net) jobs that were created last month, 572,000 (to be precise) were part-time.

That's not a typo.

Which means America lost a boatload of full-time jobs in September.

That, Paul, is the truth about jobs.

Another terrible month.  Of many now.

Odd that you left that out ... while you were being so ... truthful.