Thursday, November 08, 2012

Datapoint: "Covered" Employment

Interesting statistic here.

According to the BLS, the economy added 4,951,000 since January 2009. In the same timeframe, uncovered employment rose by 6,573,468! The difference is 1,622,468.

Got that?

133% of the jobs created since January 2009 are not covered. Employment rose by less than 5 million while uncovered employment rose by over 6.5 million.

VERY loosely, "covered" employment allows for unemployment compensation in case of losing the job.  "Uncovered" employment is--again, loosely--self-employment.

Another sign of what is a very, very, weak recovery.

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