Apr
07

Lethargic Labor

Two caveats from last Friday’s decent labor report. First, rising temp employment, formerly a leading indicator of full-time employment, is no longer. Since 4/10, the number of temp workers is up 58%, while overall employment growth is up 7.8%. Second, at 3.7 million, the long-term unemployed are 36% of all unemployed and at the current rate of decline, it’ll take four more years for their ranks to return to normal.

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