Charting America's Transformation To A Part-Time Worker Society (Part 2) And Parting Thoughts On The Household Survey

Tyler Durden's picture

Before we finally leave the topic of today's NFP data, we wanted to point out one last thing. While the total payroll number increased by 244K, the household survey indicated a drop of 190K. While this may be simply due to a calendar shift in which the Household survey catches up with the Establishment Survey, we wanted to bring readers' attention to one other fact. Observing the Household data breakdown into full time and part time workers, we see that the drop was actually more pronounced: while the March full time (112.755 MM) and part time (27.087MM) total summed nicely to the total headline number of 139,864, off by just 2K, the April data indicated that the component breakdown highlighted a much more pronounced drop in the headline number than the 190K indicated. Summing up the components adds to 139.572 MM, 102K less than the total 139.674 MM disclosed. In other words, the true drop when summed across components was not 190K, but 290K. And next, for the focus of this post, we look at whether this drop occurred in full time or part time jobs. To our complete lack of surprise, of the 290K drop, 291K was from full time jobs. As for part time jobs, you guessed it, increased by 1,000 in April. As the attached chart shows, since the start of the depression, America has lost 9.1 million full time jobs, offsetting this by a gain of 2.3 million part time jobs. No need to outsource to Asia any more: America now outsources jobs to temp agencies. And so the transition of America into a part-time worker society, first discussed in December of 2010 continues.

Oh, don't expect to get this data anywhere else.

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Altan311's picture

Don't expect to get this data as in MSM blackout, or not available besides here?

FOC 1183's picture

Available everywhere, reported nowhere (but here).  Also unreported, abso-fucking-lutely pathetic growth in average hourly earnings.

Now if only Erin could take Pisani with her.....

Altan311's picture

ummmm, PSLV now up 8%, boooyah. Should of really backed up the truck yesterday, only took a small position...

Pegasus Muse's picture

Missed it.  Did they fire Burnett? 

Pisani, brain-dead Haines, pffk-head Kernan, Cabrera, .... get rid of 'em all.

LRC Fan's picture

Did you say something, Tyler?  I can't focus with CNBS giving Erin Burnett a standing O(bama) at the NYSE.  They are giving her....wait for it...a PIECE OF THE NYSE FLOOR!!! OMG!  Also she has been to 69 countries.  69, lul.  Beat that, bitchez! 

Anybody else want to choke Sharon Epperson (or is it Berther Coombs) when she goes into her "ahhhhhh" moment every fucking time she's on.  "Oil is ahhhhhhhh umm ehhh eek down $1" go fuck yourself. 

Clorox Cowboy's picture

Tyler, I'm starting to think your not entirely onboard with this economic RECOVERY we have going on.  Where did I put that DHS suspicious activity hotline number...?

kaiserhoff's picture

Please allow me to assist with a short cut.

Dial 1-800-HerndonTroll

treemagnet's picture

Until the debt requires more reward the fed can say and print what they want, unchalleged.  Fundamentals matter - only fundamentals since everything else is complete bullshit fantasy.  Wonder if pretty ladies in the MSM can get part time MSM work?

depression's picture

And the $ USD rally lasted exactly one day... nothing to see here move along ppl.

LRC Fan's picture

Also I just BTFD on Apmex. 

topcallingtroll's picture

I just cant buy something with high premiums unless it is for long term storage.

LRC Fan's picture

Uh these premiums are higher than normal but nothing compared to what's coming.  I'm in it for the mid to long term with physical, won't be selling until I can turn around and buy some real estate or maybe a business in exchange for some oz.  Or until silver finally goes mainstream and everyone is fully on board.  Certainly won't be trading it for fiat anytime soon, if ever.  Physical silver>fiat, higher premiums are just a part of the game now.  Like tmosely says, better grab a seat before the music stops and you're truly fucked. 

Silverhog's picture

Part time work is not a bad deal if you live with your Mom.

Problem Is's picture

Does that mean they are not part of the pent up home buyer demand as seen on TeeVee???

Kyron95131's picture

funny you mention that since the trend in the last 20+ years has been living with peoples parents till they are damn near into thier 30's

RKDS's picture

Can't really blame people for doing it though.

First you send all the blue collar jobs overseas, forcing everyone to go to college for everything.  Then you cry how expensive educated labor is, oblivious to the mountains of debt behind that education.  A living wage is preposterous, how would you be able to buy that 12th yacht or 4th vacation home if you paid one?   Housing supply is down and prices are up as a result, so the kids you won't hire/pay have to work longer to afford a down payment large enough to make the usurious loan for a damned shack remotely affordable.  And now here we are, with educated people struggling to find work and living with their parents into their 30s.  As Gomer Pyle would say, surprise surprise surprise.

Congradulations, you boomer assholes.

lynnybee's picture

hey ..... i'm in household consolidation right now !  moving back with the ex-husband i loathe so much cause neither one of us can now make it on our own !   & the adult children who are 28, 32 ..... hell, they're back in the pit we call home now, too !    

I remember a time when the norm was to take out a 15-year mortgage & have it paid off in 10 years.   

Carnegie_IB's picture

that was back when a mortgage was legit and attached to the real property. The unique opp is that the mortgage of today, similar to the disconnect between ie. silver spot and physical....disconnected.

In the sense of the mortgage, it is not attached and the sheeple do not realize the debt is not valid.

if you file an action to remove the cloud of title BEFORE foreclosure, key participants will not show up, because they have nothing and no $$$ in it. Once in foreclosure, now players have some incentive.

Also look into changing the "testament trust" language, for it states ie. "That if you cannot make the payments, it is your WILL that the note holder take your house". Change it so that it is NOT YOUR WILL.

in the last depression, mortgages where eventually removed to insure payment of the property taxes at the very least.

I expect operators to increase the amount of part time hiring for a number of reasons.

keep pressing forward.

john milton's picture

OT Portugal, the third eurozone country to ask for a financial bailout, should first sell its gold reserves, a German member of parliament suggested on Thursday.

HedgeFundLIVE's picture

with very high birth death adjustment this time around, this payrolls number was in line, and not that great:

Silveroz's picture

The birth/death wasn't high this time around.  The average April adjustment is +275k, so this was actually 100k short.  And just because you don't understand the methodology behind the birth/death or the reasons it is done, doesn't make it less valid.

lizzy36's picture

Here is the methodology for B/D model.

It adds 500k-800k to headline number, over the course of a year. BLS then removes that amount quietly during spring revisions.

Rinse, Lather, Repeat.

Silveroz's picture

100% false.  While the last two years subtracted some of the birth/death adjustments for the year (some, not all) in many other years, the revisions add even more jobs on top of them (ie the birth/death adjustments were too small).  Keep in mind that the BLS has essentially been making birth/death adjustments forever, but they only recently (around 2001) began breaking them out for us to see.

FOC 1183's picture

Lucy is correct re: last 2-3 years.  You are correct re: longer-term, but take a look at the benchmark revisions (vs. originally reported, first revision, and second revision).  A disturbing trend.

FOC 1183's picture

over the last 2-3 yrs, that's pretty accurate

Justaman's picture

Police State 101: never allow the serfs to think they can make it on their own.  Self-reliance is not acceptable.   

DaveyJones's picture

If we've become our own immigrant workers will our culinary tastes expand? 

Alex Kintner's picture

Immigrants eat a lot of octopus. Hey I'm jus sayin.

DaveyJones's picture

and our leader are already cannibals

Alex Kintner's picture

+1 Cannibals Indeed. What's for dinner? Golden Goose (aka the working class).

Bam_Man's picture

will our culinary tastes expand? 

That would seem to depend on whether the number of items on the McDonald's Dollar Menu goes up or not.

Creepy Lurker's picture

Well, that spicy McChicken sandwich is already pretty exotic.

DaveyJones's picture

as long as you promise to put the emphasis on the last syllable of the establishment

Cultural Capital's picture

The only way to deal with the ever immiserated lumpenproletariat is to recolonize Africa. People arn't going to like it and it sure as hell ain't PC, but it would do the trick. Excess liquidity?  How about trying to nation-build and bring some people up out of poverty.

The problem is of course trying to 'sell' such a program to the world. Not to mention it would require a developmentalist logic which appears to have been usurped ideologically by neoliberalism…

takinthehighway's picture

Abraham Lincoln supported this idea.

trav7777's picture

people can't be "brought" out of poverty...look at is this way, chimps have pretty low standards of living.  How much do you think you'd have to spend on them before they could behave in a manner you deem "civilized" and maintain the society you built for them?

Cultural Capital's picture

Here is quote from 1850 about the UK:

"The tide of emigration is rolling on year after year, and we have no power had we the wish, to stop it. Men will fly from starvation to the uttermost ends of the earth; and from our villages and towns thousands after thousands find their way to the seaports, knowing and caring little where or how they go, provided only they are taken away from a country which refuses to support them in honest industry."

I think the same thing applies today. If China is going to keep building Ghostcities, the technology exists why not do it in a way to help build up failed states in the process, and off load some people at the same time. Of course the 'system is a ponzi' but at least it would make things more interesting.. It's just an idea. 

downwiththebanks's picture

You can 'deal with' the working poor by preventing the banker-gangsters who don't perform any meaningful labor from stealing so much from those who do.  

Lots of ways to go about doing so - it requires only a modicum of courage.

And Africa has never freed itself from the banker-gangsters, anyway.  Just look at the Congo, or Cote d'Ivoire, Libya, Zimbabwe, Sudan, etc.  From Big Pharma to coltan miners to cocoa, Africa is still controlled by the banker-gangster hooligans.

sun tzu's picture

We tried that in Haiti several times and it failed. People just become more dependent when things are handed to them

kaiserhoff's picture

Great insight, and great reason to read ZH.  The devil is in the details and that's the way the policy wonks want it. 

Anecdotal but important:  People in my crowd are starting to laugh at jobs.  No, not the multiple piercing spoiled teenager, the mom of the teenager, who was working mostly to instill some work ethic in the kid, but he's treated better bagging groceries at food lion than she is as a retail manager.

Most beach bums have a check or two, not enough to feel rich, but enough to keep the ride legal, so actual work is a seasonal, sometimes thing.  Still, it's been an eye opener to listen to "managers" complain about the rash of shit they put up with on a daily basis, and the lousy net they make after taxes and the price of gasoline.  The sheeple are starting to make other arrangements, not including regular, reported to Uncle Sam wages.  This is getting interesting.

DaveyJones's picture

that's my sense of things too. Think it's innevitable. Things go creative and underground for both survival and payback. People are waking up to the injustice and theft and feel justified in remaining outside of the scheme.

LawsofPhysics's picture

Ditto, lots of economic activity heading underground and off the radar. Has been that why for some time.

SoNH80's picture

In my home state, there is no state income tax.  It allows many to fly below the radar and be very "creative" in their income reporting.  I'm not one of them, but they are out there, the kids working construction (i.e., home repair) 3 yrs out of high school, driving around in $45 K lifted trucks paid for with cash, custom M/C's, the whole business.  The middle-aged working stiffs like me look and scratch our chins, wheels start to turn.

SoNH80's picture

Taxes are too damn high on the middle class.

downwiththebanks's picture

Taxes are too low on the derivatives merchants who pay no tax on their trillions in turnover.  Tax them and lower taxes for working people.

TThat's a tidy little program, isn't it?

ToddGak's picture

Trouble is, if you even hint at raising taxes on the richest, they start screaming that they'll just move their businesses offshore, if they haven't already.  The screaming is enough to make it so the taxes are never raised.

sun tzu's picture

I'll agree with raising taxes on the rich once we make everyone on welfare perform community service such as picking up trash, planting trees, removing grafitti, etc. It's too easy for them to demand more services while contributing nothing in return. Then cut spending back to 2000 budget levels adjusted for inflation (Clinton's last budget), then we repeal the Bush tax cuts. End the three imperialistic wars and put the troops on the border. 

sun tzu's picture

I'll agree with raising taxes on the rich once we make everyone on welfare perform community service such as picking up trash, planting trees, removing grafitti, etc. It's too easy for them to demand more services while contributing nothing in return. Then cut spending back to 2000 budget levels adjusted for inflation (Clinton's last budget), then we repeal the Bush tax cuts. End the three imperialistic wars and put the troops on the border. 

LawsofPhysics's picture

Translation;  charting America's conversion to a third world country.