Click to enlarge.
I'd be last person to argue that 2nd order polynomials can accurately predict our long-term employment future. On the other hand, I'd be the last person to think Ben Bernanke can either.
July 19, 2013
The Market Ticker ®: The Problem With Ivory-Tower "Economists"
“One thing that we hear in the commentary that we get at the FOMC is that some employers are hiring part-time in order to avoid the mandate,” Bernanke said. He added that “the very high level of part-time employment has been around since the beginning of the recovery, and we don’t fully understand it.”
That's all right Ben. We may very well solve your conundrum in the decades ahead. Sigh.
See Also:
Trend Line Disclaimer
Source Data:
St. Louis Fed: Employed, Usually Work Part Time
This chart shows the part time employed as a percent of civilian employment.
ReplyDeleteWho would have guessed that companies are so reluctant to hire full time workers in this resilient and growing economy of ours?
For that matter, who would have thought we'd have 4+ years of ZIRP in this resilient and growing economy of ours?
It's a mystery wrapped within a conundrum. Real puzzler that one.
Too much sarcasm? It seems fairly excessive this time.