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By now, you’ve no doubt heard or read about the September jobs report. To be sure, the numbers look odd and don’t easily add up, but there could be a couple explanations for those hundreds of thousands of new folks who apparently hit the job market.
Second is my shadow economy theory, which suggests we’re seeing not only a big increase in low-wage part-time jobs but also a sizable number of people who have found other ways to make ends meet.
Regardless of which is true (and I suspect both are), our economy is not recovering very well at all, which ought to be the real headline this morning.