{"id":28264,"date":"2019-12-10T20:58:18","date_gmt":"2019-12-11T01:58:18","guid":{"rendered":"https:\/\/ssgreenberg.name\/PoliticsBlog\/?p=28264"},"modified":"2019-12-10T21:03:06","modified_gmt":"2019-12-11T02:03:06","slug":"unemployment-is-low-only-because-involuntary-part-time-work-is-high","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2019\/12\/10\/unemployment-is-low-only-because-involuntary-part-time-work-is-high\/","title":{"rendered":"Unemployment is low only because &#8216;involuntary&#8217; part-time work is high"},"content":{"rendered":"<p><em>Business Insider <\/em>has the article <a href=\"https:\/\/www.businessinsider.com\/unemployment-vs-involuntary-part-time-work-underemployment-2019-1\" rel=\"noopener noreferrer\" target=\"_blank\">Unemployment is low only because &#8216;involuntary&#8217; part-time work is high<\/a>.<\/p>\n<blockquote><p>\nMisleading unemployment numbers may be prompting the Fed and the Bank of England to make a huge error.\n<\/p><\/blockquote>\n<p>It is not that misleading unemployment numbers are prompting the Fed to make a huge error. The point is that the Fed and Trump are purposely using misleading numbers to justify transferring more wealth to the wealthy.<\/p>\n<p>The value of this article is that it explains how Trump is lying with statistics better than I could just be using qualitative explanations.<\/p>\n<blockquote><p>\n&#8220;Headline&#8221; unemployment is only at a record low because of a 42% increase in the number of people who are in &#8220;involuntary&#8221; part-time work.\n<\/p><\/blockquote>\n<p>To back up my statement about the use of misleading numbers, I  give you yhis quote.<\/p>\n<blockquote><p>\n&#8220;During early 2018, involuntary part-time work was running nearly a percentage point higher than its level the last time the unemployment rate was 4.1%, in August 2000,&#8221; according to Rob Valletta, a vice president in the Economic Research Department of the Federal Reserve Bank of San Francisco. &#8220;This represents about 1.4 million additional individuals who are stuck in part-time jobs. These numbers imply that the level of IPT work is about 40% higher than would normally be expected at this point in the economic expansion.&#8221;\n<\/p><\/blockquote>\n<p>The Fed is fully aware of what the problem is.  They just aren&#8217;t bothering to make it clear to the public.  The oligarchs&#8217; news media has no incentive to inform its readers with this information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business Insider has the article Unemployment is low only because &#8216;involuntary&#8217; part-time work is high. Misleading unemployment numbers may be prompting the Fed and the Bank of England to make a huge error. It is not that misleading unemployment numbers are prompting the Fed to make a huge error. The point is that the Fed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-28264","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/28264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=28264"}],"version-history":[{"count":3,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/28264\/revisions"}],"predecessor-version":[{"id":28267,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/28264\/revisions\/28267"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=28264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=28264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=28264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}