Lethargic Labor
04/07/2014 | | Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Graphsandlaughs, MLS, Multiple listing service, Public speaking economist, econ70, economist on TV, economist on radio, eisenberg and economics, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, politics and economics
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.