LOTS of part time hires. An effect of ObamaCare? CNBC pretends not to know.
The economy added 175,000 jobs in February while the unemployment rate rose to 6.7 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 149,000 jobs to be added. Upward revisions for December and January added an extra 25,000 jobs.
Food services and drinking places continued to add jobs, with 21,000 more in February and an average of 27,000 added each month over the last year. Professional and business services also added 79,000 jobs.
Babysit for 1 hour and that's a new job. Those are the sorts of things are included in the monthly job estimating model.
Which means the figures are largely made up BS. There's really not that much actual job reporting and compiling that goes on. It's all from the birth/death model and the estimating, etc.
Is part-time hires the reason the number of hires goes up and the rate goes up, too?
They’re probably including people that are off the books.