Don't Be Fooled. Unemployment At 11.5%

February 3, 2012 by Don Surber

The new employment numbers are out and they show that unemployment fell to 8.3% in January. Woo-hoo. We added “243,000″ jobs, right?
Not exactly.
From Zero Hedge:

“In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time jobs? They went from 113,765 to 113,845. An 80K increase. So the epic January number of 141.6 million employed, which rose by 847K at the headline level: only about 10 % of that was full time jobs: surely an indicator of the resurgent US economy… in which employers can’t even afford to give their workers full time employee benefits.”