Tags: moore | jobs | report | growth

Economist Moore: Jobs Report Inaccurate Reflection of Growth

Monday, 08 Jul 2013 06:33 PM

By Bill Hoffmann

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Labor Department statistics that show while job numbers are up, the number of Americans employed part time has increased by 322,000 to 8.2 million, which is devastating for the nation's economy, according to Steven Moore, an economic and policy analyst who writes for the Wall Street Journal.

"What we found was that in the last jobs report a lot of people in Washington were celebrating. Every one of those new jobs . . . was a 20-, 25-, 28-hour a week job," Moore told "The Steve Malzberg Show" on Newsmax TV.

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"It's a hard time to raise your family and pay your bills and your medical expenses and your gasoline bills and your grocery bills when you don't have a full time job . . . This is a big, big problem with the current American economy."

Moore said millions of Americans want and need full time jobs, but simply can't find them.

"The point that is critical here … is federal policies, including Obamacare, are encouraging federal employers around the country to cap their workers at 30 hours a week," he said.

Moore said workers at franchises like Burger King, Wendy's, Red Lobster, and Applebee's and the restaurant industry in general — which hire about 20 million Americans — are particularly hit hard.

"I can't tell you how many of these [employers told me] … 'I am not going to hire more than 50 workers,''' he said.

"In fact, some of them who have 60 or 70 say, 'I'm cutting back to 50, and others said 'I'm not hiring people more than 30 hours a week.'"

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