In a recent Wall Street Journal piece, economist Edward P. Lazear suggested that a better understanding of the current employment landscape comes not from counting the number of people employed, but rather by determining the average number of hours worked per week by those currently employed. If 100 full-time workers are replaced by 120 half-time workers, there is a net loss of employment.
Based on numbers since last September, the job market has gained about 900,000 workers. The average workweek has declined, however, equivalent to losing 1 million jobs over the same period, resulting in a net loss of 100,000 seasonally adjusted jobs.
This is just one more sign that meaningful indicators are often buried under less helpful but better-looking numbers.
- Richard Davis: Can a Mormon not be a liberal?
- Jay Evensen: We're becoming a nation that...
- In our opinion: Utah gun law that canceled...
- Anne Loeser: Reverse trends about breast cancer
- In our opinion: Dropouts face high risk of...
- My view: New treatment can cure Hepatitis C
- Letter: The Romneys' new center
- Letter: Lessons for Greg Bell
- In our opinion: Utah gun law that... 150
- Richard Davis: Can a Mormon not be a... 71
- In our opinion: Where has the family... 53
- Jay Evensen: We're becoming a nation... 39
- Letter: What is ‘common good?’ 31
- Robert Bennett: Former Defense... 29
- Letter: Lessons for Greg Bell 28
- Letter: Uninformed candidate 27