Wall Street Journal (July 14)
2014/ 07/ 14 by jd in Global News
Upbeat U.S. employment figures belie the fact that full-time jobs actually fell by 523,000 in June. “Way too many adults now depend on the low-wage, part-time jobs that teenagers would normally fill. Federal Reserve Chair Janet Yellen had it right in March when she said: ‘The existence of such a large pool of partly unemployed workers is a sign that labor conditions are worse than indicated by the unemployment rate.’” Stripping the nearly 800,000 new part-time jobs out from the employment figures removes the feel-good factor and reveals “why the June numbers are so distressing.”
