On Friday, April 2, Doug Henwood wrote:
> 308,000 jobs added in March, best in four years. Very broad gains - and
> not at temp firms.
What do you think of the argument of this fellow at Wells Fargo:
http://www.drsohn.com/04pres/sohn/2004/MarEmployment.pdf
He says almost all the increase is accounted for by an increase in part-time jobs. Although oddly that doesn't stop the rest of his report from being strong and upbeat:
<quote>
The report was also helped by the significant jump in part-time workers for economic reasons to 4.7 million from 4.4 million. In fact, the increase in part-timers accounted for the vast majority of the increase in employment. The average duration of unemployment has been lengthening, persuading unemployed workers to accept part-time jobs. This in part explains the reason for the decline in the average workweek and no increase in overtime.
<unquote>
Michael