We’ve been frequently posting about the way employment is “down-mixing” from full-time to part-time jobs.
I personally think that the mix change is one of the most important trends in the economy.
Finally, the trend has become so significant that even the mass media has started reporting on it..
Last Friday … the BLS headline was “Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent.”
High fives, right?
Not so fast.
Yep, total private employment went up 114.186 million … an increase of 162,000 jobs … that’s true.
And, though the job growth was below expectations and below the number usually cited as being required to keep the unemployment rate constant … the increasingly flakey unemployment rate dropped to 7.4%
That’s good news, too … right?
Not so fast.
Here’s the HomaFiles Employment Index … the way to cut to the chase on the employment numbers …
The Homa Files 