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Economist: Employment report proves economy is not improving

MUNCIE, Ind. (Oct. 22, 2013) — Ball State University economist Michael Hicks says the September employment numbers are not a good sign for America’s economy.

“Once again, job creation numbers are disappointing, proving that the economy is weak and not improving,” said Hicks, director of Ball State’s Center for Business and Economic Research (CBER). “New job creation is running perhaps a third of the level it should be to improve overall employment numbers.”

The U.S. economy added 148,000 jobs in September, dropping the unemployment rate to 7.2 percent from 7.3, the Department of Labor announced this morning. The survey was scheduled to be released Oct. 4 but was delayed by the federal government shutdown.

RELATED: September unemployment rate little changed, 7.2 percent

“Perhaps the only good news, other than the fact the data were delayed, is that growth of involuntary part-time employment seems to have stabilized over the last month or two as employers have adjust to the new health care laws,” Hicks said.