Mish says it here:
Digging under the surface, much of the drop in the unemployment rate over the past two years is nothing but a statistical mirage coupled with a massive increase in part-time jobs starting in October 2012 as a result of Obamacare legislation.
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But there has been no massive increase in part-time, whether due to ObamaCare or something else, which, by the way, passed in March 2010, not October 2012. The raw numbers are actually down from the beginning of 2010 before ObamaCare was passed. Is part-time down due to ObamaCare?
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| Part time not-seasonally-adjusted is lower than it was before ObamaCare |
Measured with the government "model", part time is up since 2010, but you can't say massively so, as Mish does. The 300,000 to 400,000 increase in part time since the beginning of 2010 using this measure is a relatively modest variation given the wild swings in this category of a million or more.
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| What made this measure of part time decline for most of 2012? ObamaCare? |
Frankly, I think Mish has a meme in his head which is not supported by the data and is just phoning it in. Well, he did just get re-married.
