Mr. O’s insurance requirements make it more beneficial to hire 2 people working 20 hours a week rather than 1 working 40 hours a week. Bobs hours per week are cut from 40 to 20, and Ed is hired to work the other 20 hours per week. Bob gets another job from Mr. Burger for 20 hours a week to make up for the cut, while Mr. Burger slashes Ed’s hours down from 40 to 20 a week. How many jobs did Mr O create?
With Obama-math, 2 jobs created plus 2 jobs saved equals almost 4 kinda..sorta..
Increased production: 0
Many are celebrating the 195,000 jobs created as released in the June Labor Statistics, and overlook several other aspects of the report.
The total employable population grew by 189,000 thousand, while its good to finally see the jobs growth exceeding population growth, that is hardly a healthy recovery. Especially when persons on disabilities has gone up 394,000 for a total of 28,491,000.
With 322,000 more people working part time for economic reasons, while full time jobs have decreased by 240,000, job quality is definitely down, and the amount of hours worked has decreased.
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