This morning's news from BLS on the December employment data was not what many have hoped for. The economy still lost jobs (85,000) and the unemployment rate stayed at 10% -- not a month of real job creation. But, here is the kicker: November was the month when the data turned positive. The November numbers were revised upward to slow a net job gain of 4,000!
Once again the number of involuntary underemployed (part time for economic reasons) and those part time because of slack work both declined. As I said last month, I would not put too much emphasis on a single month's numbers -- positive or negative. But the trend (as the chart below shows) is in the right direction. Involuntary underemployment essentially peaked in March. This confirms that the fall is over. It also points to a slow recovery.
Once again the number of involuntary underemployed (part time for economic reasons) and those part time because of slack work both declined. As I said last month, I would not put too much emphasis on a single month's numbers -- positive or negative. But the trend (as the chart below shows) is in the right direction. Involuntary underemployment essentially peaked in March. This confirms that the fall is over. It also points to a slow recovery.
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