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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Lambert Strether</author_name><author_url>https://www.nakedcapitalism.com/author/lambert-strether</author_url><title>The BLS Jobs Report Covering July 2013: Slow Build But In Poor Quality Jobs | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="yWM1n8BhhP"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/08/the-bls-jobs-report-covering-june-2013-slow-build-but-in-poor-quality-jobs.html"&gt;The BLS Jobs Report Covering July 2013:  Slow Build But In Poor Quality Jobs&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/08/the-bls-jobs-report-covering-june-2013-slow-build-but-in-poor-quality-jobs.html/embed#?secret=yWM1n8BhhP" width="600" height="338" title="&#x201C;The BLS Jobs Report Covering July 2013:  Slow Build But In Poor Quality Jobs&#x201D; &#x2014; naked capitalism" data-secret="yWM1n8BhhP" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>By Hugh, who is a long-time commenter at Naked Capitalism. Originally published at Corrente. A complete archive of Hugh's reports can be found here.  The short version:  In July, unemployment fell to 7.4%. This was because the labor force seasonally adjusted (trendline) was largely unchanged and so most of the 227,000 increase in employment came from net hiring among the unemployed and not those entering the labor force. Employment remains 2 million below the last peak in January 2008.   Unadjusted actual, full time employment rose by 288,000 and part time employment fell by 17,000. The trendline showed the opposite of this: a 92,000 increase in full time and a 172,000 increase in part time workers. The trendline is the future maybe. The actual unadjusted numbers are where we live month to month. There is no evidence for a bump in part time work due to the Obamacare corporate mandate. Besides, this mandate has been put on hold for a year.  My various real measures for unemployment (~12%) and disemployment (~17%), that is un- and under employment have been gradually improving, but 2013 is shaping up as not quite as good as 2012. Employment growth this year could be at or a few hundred thousand below what is needed to keep up with population growth, unless there is a larger than usual spurt at the end of the year.</description></oembed>

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