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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: redfish who wrote (3421)	4/2/2004 11:38:09 AM
From: mishedlo	Respond to of 116555

"With hours worked falling and average workweek falling" I thought that part of the report was curious. Seems to me the most probable explanation is increase in part time jobs vs. full time (otherwise how could a larger number of people working result in fewer hours worked?). I came to that exact conclusion. People are taking part time jobs. Perhaps MULTIPLE part time jobs and are counted more than once. Mish

To: redfish who wrote (3421)	4/2/2004 12:38:38 PM
From: GraceZ	Read Replies (1) \| Respond to of 116555

Seems to me the most probable explanation is increase in part time jobs vs. full time (otherwise how could a larger number of people working result in fewer hours worked?). It's typical actually for hours worked to drop as companies hire more employees. Before companies hire new workers they rely on their existing workers, giving them more hours and overtime basically because they are uncertain about how long the increased need will exist (it's expensive to hire and then fire). Once they start hiring new workers the overtime gets reduced. My husband has been working weekends for the last three years because his company is reluctant to hire more permanent employees, relying on overtime and temporary workers. It's far more expensive to hire new employees than it is to simply solve whatever staffing problems you have with existing workers or temps especially when you think the up turn is temporary or the economic environment uncertain.