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Obamacare Strikes: Part-Time Jobs Surge To All Time High; Full-Time Jobs Plunge By 240,000

Tyler Durden's picture


As a reminder: jobs have quantity and quality components. The quantity component was good enough to convince the 10 Year the taper is imminent (if not stocks, which continue to trade dislocated from any and all fundamentals). But how about the quality? In a word: not good. In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 - an all time record high. Full time jobs? Down 240,000.  And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs. And there is your jobs "quality" leading to today's market euphoria (if only for now).

June full-time vs part-time:

And the divergence historically:

Source: BLS


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Fri, 07/05/2013 - 09:14 | 3723261 I am more equal...
I am more equal than others's picture

But two part-time jobs equals a full time job, right?

Fri, 07/05/2013 - 09:20 | 3723282 ejmoosa
ejmoosa's picture

That's going to depend on their seasonal adjustment.

Fri, 07/05/2013 - 09:30 | 3723323 Shocker
Shocker's picture

This "recovery" is weak to say the least. A very few are n recovery but for most of America its at least a recession.

Layoff / Closing List


Fri, 07/05/2013 - 09:47 | 3723389 Boba Fiat
Boba Fiat's picture

College course catalogs are being re-edited as we speak.  New offerings include:

Analytical Hotel Housekeeping

Comparative Burger Flipping

Deconstructing Lattes 201

The Tao of the Walmart Greeter

"How Can I Help You?": Cashier Dialectics in the Postmodern Age

Fri, 07/05/2013 - 09:53 | 3723420 max2205
max2205's picture

Welcome to Wendy's. How can I take your order

Fri, 07/05/2013 - 10:09 | 3723469 asteroids
asteroids's picture

Thanks to Obozo and the FED you now have a lost decade and a lost generation. Just like the Japanese.

Fri, 07/05/2013 - 10:15 | 3723487 markmotive
markmotive's picture

"While the U.S has its host of problems, the U.S for the time being appears to remain the best house in a bad neighbourhood."

-- Christine Hughes


Fri, 07/05/2013 - 10:25 | 3723543 MagicHandPuppet
MagicHandPuppet's picture

Next step for a sociopathic, mass murdering do-gooder tyrant:

Imposition of Obamacare for part-time employees too.

Fri, 07/05/2013 - 10:42 | 3723615 TeamDepends
TeamDepends's picture

Then pets.

Fri, 07/05/2013 - 10:51 | 3723648 Race Car Driver
Race Car Driver's picture

Then, no pretense.

"We're from the government! Give us your money and the rest of your shit! Now! ... Fuck it, we're comin' in ...."

Fri, 07/05/2013 - 12:34 | 3723946 spine001
spine001's picture

The US Department of labor predicts that in the future nearly 40% of the workforce won't even need high school education. It is on their web site! If you are surprised about this you are missing the point of what is happening.

Fri, 07/05/2013 - 13:00 | 3724027 nmewn
nmewn's picture

Part time "saved or created" theres some pocket Change for ya!

Got Hope yet?

Fri, 07/05/2013 - 11:29 | 3723741 kchrisc
kchrisc's picture

Going to be more than a decade I do believe.

Fri, 07/05/2013 - 12:09 | 3723840 Conchy Joe
Conchy Joe's picture

Assuming we ever get back to a normal GDP - it will be several.

Epic waste and fraud.

Fri, 07/05/2013 - 13:02 | 3724033 Turin Turambar
Turin Turambar's picture

Consider us fortunate if all is lost is a decade and a generation.

Fri, 07/05/2013 - 10:07 | 3723459 Scro
Scro's picture

Welcome to Costco, I love you.

Fri, 07/05/2013 - 10:14 | 3723483 SISSYFUSS
SISSYFUSS's picture

Idiocracy...  one of the best documentaries ever made!

Fri, 07/05/2013 - 11:10 | 3723699 koaj
koaj's picture

speaking of...Costco was like a madhouse this morning

Fri, 07/05/2013 - 12:00 | 3723811 Scro
Scro's picture

I kinda knew that guy from idiocracy, we worked out at the same gym but he didn't stay very long.

Fri, 07/05/2013 - 10:18 | 3723505 Ignatius
Ignatius's picture

And this is really the point of how this job information comes in with stocks up, gold down with a stable dollar...


though he may or may not not like it...


Fri, 07/05/2013 - 10:51 | 3723649 karp4cy
karp4cy's picture

Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.  T.Jefferson, 1776.

Fri, 07/05/2013 - 11:03 | 3723680 Real Estate Geek
Real Estate Geek's picture

I've got good news, Iggy!  "Prostate Massage and Release" is part of Obamacare's minimum essential coverage.  It still hurts bad, but Uncle Sugar will pay someone for it, so I guess that's good . . .

Fri, 07/05/2013 - 12:02 | 3723818 Ignatius
Ignatius's picture

Good news... but it's not "Iggy"...

It's Ignatius J. Reilly, Mongoloid, Esquire

Slob, extraordinaire.

Fri, 07/05/2013 - 13:17 | 3724068 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

There's the ego, the superego, the id, and now, pulling them all together, the Ig...

Fri, 07/05/2013 - 12:03 | 3723821 dunce
dunce's picture

Expanding sales with cross selling 103, would you like fries with that?

Sat, 07/06/2013 - 09:40 | 3726191 PD Quig
PD Quig's picture

And, of course, the college grad exit question: "Did you find everything that you were looking for?"

Fri, 07/05/2013 - 11:05 | 3723647 Real Estate Geek
Real Estate Geek's picture

This article is just more ZH propaganda.  A job is a job is a job; they're ALL good. 

Now if you'll excuse me, duty calls and I must attend to another cleanup on Aisle 7.  I bet those boisterous Wall Street lads were horsing around again . . .

Fri, 07/05/2013 - 09:45 | 3723380 Never One Roach
Never One Roach's picture

My neighbor's kid brags he got 2 part time jobs: 1 bagging on aisle 3 and one other job bagging groceries on aisle 6.


Now that's 1 ambitious Yute!

Fri, 07/05/2013 - 11:06 | 3723689 Real Estate Geek
Real Estate Geek's picture

I read that as one ambitious YALIE.

If only it was true and not my dyslexia. 

Fri, 07/05/2013 - 09:27 | 3723314 Martial
Martial's picture

It equals the American Dream. Bernanke says so.

Fri, 07/05/2013 - 09:44 | 3723373 GeezerGeek
GeezerGeek's picture

Modern American Dream (MAD): get someone else to foot the bill.

Fri, 07/05/2013 - 10:50 | 3723645 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"It's called The American Dream because you have to be asleep to believe it."

George Carlin

Fri, 07/05/2013 - 09:38 | 3723350 mkucstars
mkucstars's picture

And not affording health insurance will only cost an extra $95 fine. Whew, happy days are here again!

Fri, 07/05/2013 - 10:20 | 3723517 autofixer
autofixer's picture

Your fine will be added to your "taxes owed" when you file your form 1040-EZ, so you financial idiots will never notice.  Signed, Kathleen Sebelius. 

Fri, 07/05/2013 - 11:09 | 3723694 Real Estate Geek
Real Estate Geek's picture

Plus 1 for the snarky use of boldface (notwithstanding the Chief Justice's opinion . . . )

Fri, 07/05/2013 - 12:53 | 3724011 machineh
machineh's picture

Please, it's Kathleen Syphilis ... show some respect, okay?

Sat, 07/06/2013 - 09:43 | 3726193 PD Quig
PD Quig's picture

Kathleen Sebelius walks into a bar. The bartender says, "Why the long face?"

Fri, 07/05/2013 - 11:40 | 3723761 kchrisc
kchrisc's picture

And here is the bigger surprise coming to the sheeple: ObamaCare is going to tax welfare.

You and your wife have two part-time jobs each but don't earn enough to support the family of 5. Uncle sugar, the people who destroyed the economy, "graciously" gives you food stamps and several tax "credits" (welfare) that help keep you and yours above water.

Now since you don't make enough to be stuck in Medicaid and none of your employers can afford your health insurance, you must buy your own. Of course you can't afford to buy your own, so you are assessed a "penalty" (a tax, as everything paid to those of government is always a tax). The "penalty" serves to reduce or even eliminate your welfare benefits.

Surprise, surprise, surprise!

Fri, 07/05/2013 - 12:13 | 3723856 dunce
dunce's picture

I can see another revision in how much of social security is taxable. It would not count as a a raise in the tax rate if every dollar of income reduced a social security check dollar for dollar because it has been determined that you have "enough" income. Govt. pensions of politicians and public employees would be exempt.

Fri, 07/05/2013 - 09:49 | 3723396 CrashisOptimistic
CrashisOptimistic's picture

No, two part time jobs doesn't equal one full time job -- because of the tax rate differential.

Two guys at 20K, after deductions, may pay $1K each in income taxes.

One guy at 40K, after deductions, will pay about $3K in income taxes.  The progressive tax rate smashes revenue sharply lower when faced by a nation of part time workers.

Fri, 07/05/2013 - 11:37 | 3723753 MachoMan
MachoMan's picture

Bingo.  I know I keep harping on it, but not only will this put downward pressure on tax revenues, but so will a myriad of other things, e.g. the transition from employees to independent contractors for professional jobs (licensed/certified).  This isn't chump change either...

Of course, less tax revenue would never mitigate government expansion...

Fri, 07/05/2013 - 12:21 | 3723891 Totentänzerlied
Totentänzerlied's picture

"smashes revenue sharply lower"

So there is a silver lining!

Fri, 07/05/2013 - 12:32 | 3723935 de3de8
de3de8's picture

Only for a little while

Fri, 07/05/2013 - 09:51 | 3723413 B2u
B2u's picture

A third part time job is needed to pay for Obamacare.

Fri, 07/05/2013 - 10:33 | 3723574 11b40
11b40's picture

Maybe, but it will take 3 part-time jobs to pay for your health care and that benefits package you once had.  Maybe even 4 part-time jobs to get you back to where you were.

Fri, 07/05/2013 - 15:33 | 3724469 KickIce
KickIce's picture

Great, we can all be like the Jamaican family in "In Living Color."

Fri, 07/05/2013 - 09:20 | 3723271 Rogue Trooper
Rogue Trooper's picture

Is the NSA hiring all these part timers?  I guess with PRISM and BONESAW they would be kinda busy.

Will SCAN for food.

Fri, 07/05/2013 - 09:39 | 3723352 Pegasus Muse
Pegasus Muse's picture

The NSA is having difficulty recruiting new snoops.

We get more honest questioning about NSA activities from students being recruited by the NSA than we get from all the tea-bagging sycophantic pseudo-journalists posturing and parading on Official Propaganda TV and in the print media. 


Students DESTROY NSA Recruiters Over Illegal Spying and Lies

Fri, 07/05/2013 - 09:48 | 3723391 Kaiser Sousa
Kaiser Sousa's picture

hope the 4th was all you thought it would be.....


"As the world focuses on the high-tech spying of the National Security Agency, the misplaced card offers a rare glimpse inside the seemingly low-tech but prevalent snooping of the United States Postal Service.

Mr. Pickering was targeted by a longtime surveillance system called mail covers, a forerunner of a vastly more expansive effort, the Mail Isolation Control and Tracking program, in which Postal Service computers photograph the exterior of every piece of paper mail that is processed in the United States — about 160 billion pieces last year. It is not known how long the government saves the images.

Together, the two programs show that postal mail is subject to the same kind of scrutiny that the National Security Agency has given to telephone calls and e-mail."

Fri, 07/05/2013 - 10:30 | 3723553 Ignatius
Ignatius's picture

The NSA etc, etc, are all modern versions of the Pinkertons.

They keep changing the names as part of an overall marketing strategy

Like "we find people have a revulsion to torture... we'll call it enhanced interrogation"

"Has a kinda ring to it, doesn't it?"

Everything is advertising, everything is a LIE.

Lying is a winning strategy in our culture.

Fri, 07/05/2013 - 12:23 | 3723898 Totentänzerlied
Totentänzerlied's picture

It's not so much lying as getting away with it, and that's true in every culture.

Fri, 07/05/2013 - 09:48 | 3723395 GeezerGeek
GeezerGeek's picture

I think anyone creepy enough to want to join the NSA and spy on fellow Americans is not to be trusted with such a job. Sort of like hiring a pedophile to babysit your kids.

Fri, 07/05/2013 - 10:04 | 3723450 Rogue Trooper
Rogue Trooper's picture

Plenty of them Geezer.  The kind that diligently did the paper work at Belsen.  Just following 'orders' of course.

Makes you sick inside...

Fri, 07/05/2013 - 12:04 | 3723824 uno
uno's picture

good point, Anyone with the higher level clearances are being monitered every transaction/email etc even more closely than the rest of us.  Maybe it;s metadata on most people, but the clowns with those jobs are being scrutinized on another level even before Snowden's fairytale adventure.  Programming is making their jobs and them obsolete.

Fri, 07/05/2013 - 10:01 | 3723440 Rogue Trooper
Rogue Trooper's picture

Muse, thanks for the link.  Listened to the whole thing.

Well done those students. Gives me some faith that at least some are waking up.

Still the whole thing gives you a cold feeling inside... this shit is real.


Fri, 07/05/2013 - 10:35 | 3723586 Ignatius
Ignatius's picture

"...we're apolitical..."



Fri, 07/05/2013 - 10:42 | 3723607 Ignatius
Ignatius's picture

"how does one become a whistleblower, that seems to be a much more interesting job."

"Is this a job for liars?"


I love this girl

Fri, 07/05/2013 - 11:11 | 3723702 Clashfan
Clashfan's picture

Fascinating link, Pegasus. How do we know that these are not merely voice actors, though?

Still listening to it. Just terrific.

Fri, 07/05/2013 - 11:14 | 3723710 Real Estate Geek
Real Estate Geek's picture

Minus one solely for the "tea-bagging" crack that you shoe-horned in.  In fact, it was a complete non sequitur--when was a legacy media talking head EVER sycophantic towards members of the tea party?


GREAT link, though!


Fri, 07/05/2013 - 12:46 | 3723992 General Decline
General Decline's picture

"The NSA is having difficulty recruiting new snoops."

Just bump up the entry level pay a couple grand and that problem will go away.

Sat, 07/06/2013 - 09:47 | 3726196 PD Quig
PD Quig's picture

"tea-bagging sycophantic pseudo-journalists"?

Hey, dumb fuck: the journalizts all hate the Tea Party and the Tea Party hates the NSA.

Try to touch base with reality before committing pixels to the Cloud, you dim-witted putz.

Sat, 07/06/2013 - 09:47 | 3726197 PD Quig
PD Quig's picture

"tea-bagging sycophantic pseudo-journalists"?

Hey, dumb fuck: the journalizts all hate the Tea Party and the Tea Party hates the NSA.

Try to touch base with reality before committing pixels to the Cloud, you dim-witted putz.

Fri, 07/05/2013 - 10:22 | 3723528 autofixer
autofixer's picture

No need, Skynet is self aware.  Who is Ed Snowden?

Fri, 07/05/2013 - 09:18 | 3723272 involuntarilybirthed
involuntarilybirthed's picture

Added 195,000 jobs, okay.  Part time work increased by 322,000.

So if my math (and thinking) is right we lost 127,000 full time jobs?

Fri, 07/05/2013 - 09:21 | 3723286 SheepDog-One
SheepDog-One's picture

Moar....actually -240,000 full time jobs....unreal.


Fri, 07/05/2013 - 09:25 | 3723293 involuntarilybirthed
involuntarilybirthed's picture


Fri, 07/05/2013 - 09:19 | 3723277 NOTW777
NOTW777's picture

TBT up 5%

Fri, 07/05/2013 - 09:52 | 3723419 CrashisOptimistic
CrashisOptimistic's picture

Guys, wake up.  Bernanke made his taper announcement two weeks ago JUST 6 DAYS BEFORE THE 1.8% GDP REPORT.

He already knew what was in that report.  He knew there is no organic growth, but he's going to taper anyway.  Some reason outside "the data" is compelling him to taper.   This UE report doesn't so much support taper as makes clear that nothing can stop it.  Deflation will result, but for some reason we have not been told, Bernanke has to proceed anyway.

Fri, 07/05/2013 - 11:44 | 3723777 fattail
fattail's picture

I wonder if there is an event in the future that may cause a rotation into bonds that the Fed could dump errrrr....taper their surplus citizenry debt obligations on.  I hope I am on the early notification list.  All this deflationary risk requires an inflationary event.  

Hey, maybe an Egyptian civil war would work.


Maybe our cia spooks in the middle east could whip something up for us.

Fri, 07/05/2013 - 12:06 | 3723830 MachoMan
MachoMan's picture

The FED is just being set up as a bad bank...  it isn't going to survive its balance sheet...

There are too many questions to be able to explain crash's observation...  For those of us that claimed it's simply the FED shaking off the non-club members and non-club front runners, we're starting to get a bit long in the tooth and yields have increased beyond what many of us consider to be "safe".  If this is purely a routine maintenance play, then they're starting to scare the shit out of people.  Nonetheless, we simply don't have enough information to be able to pinpoint the reason for the taper announcement (and, it should be pointed out, that no taper has happened yet).  Could be jawboning, might be foretelling...  time will tell.

Fri, 07/05/2013 - 12:17 | 3723872 franzpick
franzpick's picture

5s, 10s and 30s are cratering, FVX-TNX-TYX yields up 12%, 8% and 4.7%, a prelude to an impending major fed debt crisis, and gold down $90 last week and $37 more today discounting the day you can actually earn interest on your money.

TD: Where is the bond-blood-bath story?

Fri, 07/05/2013 - 12:21 | 3723890 Snoopy the Economist
Snoopy the Economist's picture

I bet ben will start tapering just as he walks out the door when the SHTF he can say "I started tapering before I left". Yellen will walk into a stock 'correction' (probably not crash yet) and will double up on printing becasue as she said "If I could drop rates negative I would" and the market will rally to new highs with a new printing fed.

Sounds right to me.

Fri, 07/05/2013 - 09:19 | 3723278 trillion_dollar...
trillion_dollar_deficit's picture

This year:

+130k full time

+557 part time

Fri, 07/05/2013 - 09:43 | 3723367 Rainman
Rainman's picture

From here you can see all the way to JAPAN !

Fri, 07/05/2013 - 09:21 | 3723283 Stuart
Stuart's picture

you would think the average payrate would've fallen substantially then, it didn't.  Not adding up if this was the case.

Fri, 07/05/2013 - 09:31 | 3723330 grid-b-gone
grid-b-gone's picture

Heuristically, they probably attached a monetary value to having a 34.5 hr workweek and, voila, part-timers are better off.

Fri, 07/05/2013 - 09:34 | 3723336 TuPhat
TuPhat's picture

Some part time jobs make the same pay rate as the fulltimers.  Rate is not the same as take-home.

Fri, 07/05/2013 - 10:11 | 3723475 Rogue Trooper
Rogue Trooper's picture

We are not talking about the token chick in HR who can 'Job-share' in the Diversity role because we are such a progressive family friendly corporation and take seriously work life balance.  The majority of part-time work is of the non-skilled kind and this gets the 'market' rate of compensation, i.e., fuck all.

These figures are an EPIC fail.


Fri, 07/05/2013 - 09:23 | 3723284 grid-b-gone
grid-b-gone's picture

This helps explain backing away from the Obamacare implementation timeline.

Part-timers, expecially in these numbers, can be a dangerous voting block.

The link between the part-timer trend and Obamacare is pretty obvious.


Fri, 07/05/2013 - 09:56 | 3723431 GeezerGeek
GeezerGeek's picture

Except the adjustment to Obamacare implementation only applies to large employers. The individual mandate apparently is unchanged, so part-timers will still be held to account by the IRS (Infernal Repression Service?)

Speaking of the delay, if the (delayed) employer mandate is considered a tax, as the individual mandate was so proclaimed by SCOTUS, then Obama has just decided he can apply or ignore taxes based on his own predilections. (Does anyone know if the legislation actually grants POTUS that ability?) If that's true, I hope the next true conservative elected president (assuming we will have future elections) decides to suspend income taxes for a while, and for good measure all inheritance taxes except on big name Liberals. Wow, wouldn't that be neat!

Fri, 07/05/2013 - 14:34 | 3724303 SDShack
SDShack's picture

Yep, part timers are screwed. They don't qualify for employer insurance (on purpose by the employer to skirt 0zer0care), but they are still mandated to have insurance due to 0zer0care. That means they either pay the fine, or go to a state exchange to buy it. The cost will be so high on the state exchange, that they will most likely opt to go without and pay the fine. All 3 legs of the 0zer0care stool have collapsed. You can't keep your insurance if you like it, your cost is not lower, and uninsured people will still choose to be uninsured. Now add the fact that full time jobs are being forced into part time jobs and the total hit to the government is epic with lost tax revenue. The Dems finally found out "what's in the bill", and they are panicing because their major voting block (poor and/or minimum wage earners) are going to get royally screwed and will probably stay home in 2014 rather than vote. 0zer0 is clueless. Delaying the EMPLOYER mandate will do nothing to eliminate the backlash that the INDIVIDUAL mandate is going to cause the poor and/or minimum wage earner.

Fri, 07/05/2013 - 09:22 | 3723287 involuntarilybirthed
involuntarilybirthed's picture

The government does not have ObamaCare ready to implement, the economy is the cover.  Congress is now afraid of the monster they created, hence why Nancy Pelosi is quiet.

Fri, 07/05/2013 - 12:05 | 3723826 Harbanger
Harbanger's picture

Implementation is being postponed  past the Midterm elections for obvious reasons.  This baby belongs to Obama and Democrats.  The public hates this law.  If you think Obama and the Democrats have no opposition now, just wait until we legalize all the illegals. 

Fri, 07/05/2013 - 09:23 | 3723290 Zombie Investor
Zombie Investor's picture

Safe to assume Obama got those numbers earlier in the week and delayed Obamacare for employers by one year.  That guy is a coward, pure and simple.

Fri, 07/05/2013 - 10:46 | 3723631 StarTedStackin'
StarTedStackin''s picture

No shit, and a serial lying racist Muslim also.....

Fri, 07/05/2013 - 09:24 | 3723295 shankster
shankster's picture

I was expecting 400,000K

Fri, 07/05/2013 - 09:25 | 3723296 Cheeseus Sonofdog
Cheeseus Sonofdog's picture

The spike in "professional services" is also mostly due to Obamacare. Temp agencies are considered as a professional service. As are consultants, tax advisors, etc. All needed to deal with the redtape noose of Obamacare...

I'm thinking they postponed the employer mandate hoping this will increase the job numbers for another year. It worked so far the last year.

Fri, 07/05/2013 - 09:36 | 3723343 NotApplicable
NotApplicable's picture

We're having to fire part-timers and rehire them through temp agencies, as it's the only way to keep them at their present number of hours.

Fri, 07/05/2013 - 09:43 | 3723369 grid-b-gone
grid-b-gone's picture

I wonder if the hourly rate is reported as what the company pays the temp agency and not the hourly rate the worker gets.

Fri, 07/05/2013 - 10:45 | 3723625 StarTedStackin'
StarTedStackin''s picture

but but but 'both parties are exactly the same'......I read that here repeatedly, so it must be true.........




Of course I always ask the assholes who say that stupid shit (usually Ron Paul voters) what percentage of the national economy did the republicans socialize......



Of course the sniveling, limp dicked pussies never answer.....

Fri, 07/05/2013 - 13:00 | 3724026 ceilidh_trail
ceilidh_trail's picture

Yup. They tried to rake me over the coals yesterday when I pointed out that not voting equaled not having any voice. Easier to just cry and whine on a blog than get off their ass and actually do something!

Sat, 07/06/2013 - 14:16 | 3726589 oddball
oddball's picture

You deserved your raking.  Voting for the lesser of evils is in fact voting for evil.  In my estimation most posters on this site do more than just sit on their ass and whine. 

What voice does voting for the status quo offer?  Consent?  Were you paying attention to the last presidential election?  The parties gave us 'The One' and a gun grabbing architect of ObamaCare.  What is left, vote third party and be part of the maginalized 5%, or don't vote, don't give your consent to a corrupted government.  The less people vote the more the sham is exposed.

Like the poster above it seems you two belive this all can be fixed by voting, and there may be some hero-leader to save this shit stained mess. 




Fri, 07/05/2013 - 13:27 | 3724103 Dull Care
Dull Care's picture

I think there is some truth in what you state. The GOP probably never would have done anything like Obamacare.


 Where the complaints about the two party system ring valid is that the GOP claims to stand for free markets yet they have never attempted to repeal anything from the Federal Reserve, the New Deal or Great Society.  The Republicans are too chickenshit to ever wage a serious campaign against these monstrosities.


Basically unless something drastic happens we're headed to the same place either at a slower pace or at the warp speed the Democrats would like.

Fri, 07/05/2013 - 14:49 | 3724347 SDShack
SDShack's picture

The GOP is certainly not blameless. Their biggest mistake was elminating Glass-Steagal under Clinton which was probably the only good thing from FDR. But to say that the GOP has never tried to roll back anything from the New Deal, or Great Society is not true. The GOP did pass a line item veto that Clinton signed, but it was declared unconstitutional. Welfare reform was also passed by the GOP, and signed by Clinton after the 4th time. Also, GWB after his re-election tried to alter Social Security to give people the choice to invest some of the money in other market instruments (like an IRA) but he was crucified by the Dumbcrats for trying to "privatise" SS which wasn't true at all. That said, the GOP definitely didn't control spending under GWB like it did under Clinton. But the 0zer0 spending is exponentially worse. Now, if the GOP caves on illegal immigration, then there really is no difference between the 2 parties.

Fri, 07/05/2013 - 16:14 | 3724630 KickIce
KickIce's picture

I sometimes think TPTB accomplish  different agendas through each party.  As a general rule the GOP is used to expand government power via the petro dollar w/wars and cold wars while the dems expand it with social programs.

To me, the most dangerous presidents in the modern era are as follows:

Wilson  (Federal Reserve)

FDR  (New Deal / Gold Confiscation)

Johnson  (Broke Society / Vietnam War / SS in General Fund)

Nixon (Gold Standard)

Reagan (Deficits Don’t Matter)

Clinton  (CRA / Repeal of Glass-Steagal / NAFTA)

Bush (Patriot Act / Bailouts / Deficit Spending)

Obama  (Health Care / NDAA / And God only knows what else is coming)

Sat, 07/06/2013 - 13:57 | 3726550 oddball
oddball's picture

Who never answers?  The sniveling, limp dicked pussy republicans and their supporters?  Doing nothing to stop the statist is the red teams MO, and in my estimation is 'the same' big government loving douches.  Keep on with the 'hope', support the tools.  Seems your masters have nationalized the whole fucking world.  The sprinkler of the house is different than we need to pass it to see what is inside it? 

Please keep your blinders on.

Fri, 07/05/2013 - 09:25 | 3723301 ebworthen
ebworthen's picture

We all know it, but who in leadership is saying it?

Parasitic economy, governments, and corporations; societal cannibalism.

Fri, 07/05/2013 - 12:33 | 3723944 Totentänzerlied
Totentänzerlied's picture

You forgot to mention the "Do-nothing want-everything populace happily voting itself more goodies with money it doesn't have cause fuck the future, still absorbed in party-politics bullshit and, red or blue, a control-freak big government statist through and through".

Can't have one without the other.

Fri, 07/05/2013 - 09:25 | 3723302 Mr. Hudson
Mr. Hudson's picture

This is killing gold.

Fri, 07/05/2013 - 09:27 | 3723310 involuntarilybirthed
involuntarilybirthed's picture

How is part time work killing gold?   (w/tongue in cheek)

Fri, 07/05/2013 - 09:37 | 3723345 ebworthen
ebworthen's picture

The lower it goes the cheaper it will be for real people to buy the physical.

I missed buying more at $1,180.

Fri, 07/05/2013 - 10:04 | 3723448 therover
therover's picture

The way the price is dropping, we may get our chance at $1,180 soon enough ! 

Fri, 07/05/2013 - 09:51 | 3723415 Cacete de Ouro
Cacete de Ouro's picture


Thats the burger I mean....flip the fuckin' the part-time job


Fri, 07/05/2013 - 09:27 | 3723311 krispkritter
krispkritter's picture

I'm doing my best Gomer Pyle right now in my I'm slamming it on my desk.

Fri, 07/05/2013 - 12:25 | 3723908 Snoopy the Economist
Snoopy the Economist's picture

"Well Gaaawwwwlllllyyyy"

Fri, 07/05/2013 - 15:50 | 3724547 krispkritter
krispkritter's picture

More like: Surprise, surprise, surprise...


And just for Friday Afternoon Humor: Full Metal Jacket - Disney Remix


Fri, 07/05/2013 - 09:27 | 3723313 Quinvarius
Quinvarius's picture

Now we know why Obamacare was delayed.  It was chasing everyone into the unemployment line where they were replaced with part timers.  What a horrible report.

Fri, 07/05/2013 - 10:37 | 3723599 Meat Hammer
Meat Hammer's picture

Meh, TPTB have Boardwalk and Park Place, but they still want Baltic Ave.....not quite there yet.  When they've bought everything they want they'll flip the board over and Obamacare will come.

Fri, 07/05/2013 - 10:47 | 3723600 Spigot
Spigot's picture

ZeroCare was delayed in order to give employers MORE time to convert FT to PT positions. Additionally the US.GOV gets to collect ANOTHER full year of fees from employers in order to "start up" the system ... at my place of eMployment they are in process of tossing 7% of the workforce by end of fiscal year as a first wave. That's the FIRST wave of cuts. I'm pretty sure wave two will include manditory "furloughs", IE - non-paid days off. The word is "after they get rid of the older workers, then things are going to get very rough for all the rest (remaining).

Additionally the Agreement these workers sign essentially destroys their ability to re-enter the work force as it bans them from ever working for the company or any of its affilitaes FOR.EVER, and this is a very big employer and network for this area. Guaranteed never to return to work.

Fri, 07/05/2013 - 12:21 | 3723892 Conchy Joe
Conchy Joe's picture

Seeing a lot of that too - the older (more expensive) professionals are retiring early - both because they are being encouraged to and because some would like to see some of the social security ponzi they paid into.

The number of contract employees and part time (25-35 hour) people has gone up as well. Very few full time "real" positions and even in those you are cut within the same week that any project ends unless there is follow up work, making your professional career feel more like a temp/contract job.

Fri, 07/05/2013 - 09:28 | 3723317 SheepDog-One
SheepDog-One's picture

Everyone is working far less, but somehow getting paid far more?

Sorry, I don't believe it....govt you can shove this bullshit.

Fri, 07/05/2013 - 09:38 | 3723351 TuPhat
TuPhat's picture

Some union contracts still have 3% a year raises baked in the cake.  Govt workers are also making more.  The rest of us suffer.

Fri, 07/05/2013 - 10:44 | 3723621 dark pools of soros
dark pools of soros's picture

because you dont have the balls to organize and grab better compensation..  a wage is anything they can get away with paying someone

but hey, they tell ya they can't compete in the new global market so you gotta work like a cockroach and you do right?

always keep some fuckyou money around so you force them to treat you like a human.. without that, you are their bitch and they know it

Fri, 07/05/2013 - 11:47 | 3723788 hootowl
hootowl's picture

You suffer because you let Uncle Scam illegally confiscate your wages.

Join the underground economy.  Keep what you earn.


Fri, 07/05/2013 - 11:45 | 3723780 hootowl
hootowl's picture

You suffer because you let them illegally confiscate your wages.

Join the underground economy.  Keep what you earn.


Fri, 07/05/2013 - 12:35 | 3723954 Totentänzerlied
Totentänzerlied's picture

"Everyone is working far less, but somehow getting paid far more?"

Maybe they're government workers?

Fri, 07/05/2013 - 09:31 | 3723327 spooz
spooz's picture

Its not just having to pay benefits that is causing empoyers to adopt a part time workforce.  The New York Times reports that employers like the flexibility that that a part time workforce offers:

"In the past, part-timers might work the same schedule of four- or five-hour shifts every week. But workers’ schedules have become far less predictable and stable. Many retailers now use sophisticated software that tracks the flow of customers, allowing managers to assign just enough employees to handle the anticipated demand"

It gives the example of Jamba Juice, who plugs the predicted temperature into their scheduling software to determine how busy they will be when planning how many workers they will need, breaking down workers hours into 15 minute increments. Bottom line, baby.

Fri, 07/05/2013 - 10:04 | 3723449 grid-b-gone
grid-b-gone's picture

I accept the continuous improvement efficiency trend. Each morning, I don't turn on all my lights. I only want to use them as needed. Running a business similarly holds product cost down and keeps earnings up.

The thing is, this needs to happen in government and pass the efficiency back to the people through lower taxes. Embrace deflation.

A 34.5 hr workweek is not a bad thing if it covers the bills and you don't need a second job to make ends meet.


Fri, 07/05/2013 - 10:43 | 3723618 Spigot
Spigot's picture

None of these folks are going to be working 3.5 hours less than full time. They are going to be working less than 28 hours per week average. Its the math. In this environment no company is a cash cow. Margins are razor thin. Cost inflation is running down the bottom line. ZeroCare costs simply will bancrupt many employers if they do not find a way to avoid its greater costs. The conversion of FT to PT less than 28 hrs really started to advance more rapidly last Fall (2012). G forces are increasing.

Fri, 07/05/2013 - 10:49 | 3723641 dark pools of soros
dark pools of soros's picture

then have 10 kids and put them to work for peanuts - the losers you hire will probably just rob you anyway

Fri, 07/05/2013 - 15:00 | 3724362 SDShack
SDShack's picture

It's not a 34.5 hour week. That's the average. Even in good times, the average work week is usually below 40 hours because of part time scewing (now screwing). With 0zer0care, employers MUST have workers <30 hrs per week to avoid having to provide insurance. I wouldn't be surprised that OT for FT workers goes up, since the OT cost is less and productiviy higher than the hire/training cost for a PT employee. The net effect is a stable national average work week, but an overall reduction in national throughput and revenue.

Fri, 07/05/2013 - 12:26 | 3723912 Conchy Joe
Conchy Joe's picture

Flex scheduling is great for retail businesses and certain industries - but not nessisarily good for the employees to plan a future around.

Our grandkids will say - "they killed the most perfect middle class of any civilization, they created the largest and most bloated government possible - but damn was the Jamba Juice delicious right up till the end"


Fri, 07/05/2013 - 12:43 | 3723980 Totentänzerlied
Totentänzerlied's picture

How dare they try to run their businesses as they see fit!

How dare they force customers to put up with th- oh... That's right, they don't...

Sorry left, the good times when you could get many times the compensation you were actually worth because oil and debt were making up the difference ARE OVER for the bottom 90%. Welcome back to the real world, where worker productivity (ex exogenous energy inputs and loans collateralized by future productivty) hasn't budged in 130 or so years, and neither, obviously, have the corresponding APPROPRIATE wages. Mean reversion. Deal with it.

Fri, 07/05/2013 - 09:32 | 3723331 ebworthen
ebworthen's picture

Hey CNBC! 

You are a financial network! 

What for you not mention part-time versus full time!?!?

Fri, 07/05/2013 - 09:33 | 3723334 Gavrikon
Gavrikon's picture

Taper, schnaper.  I'm still stacking.

Fri, 07/05/2013 - 09:36 | 3723342 tao400
tao400's picture

i was up in blackhawk colorado gambling and the dealers told me that everyone is losing one or two days of work from full time and going to another casino to make it up. in other words, they are still getting the same pay but are working two part time jobs with no health insurance. that's what's going on.

Fri, 07/05/2013 - 09:42 | 3723366 Rogue Trooper
Rogue Trooper's picture

Exactly, central plannertards attemp to socially engineer an outcome and of course those trying to create wealth work out the most viable solution to minimise the impact. Unintended consequences.

People actually vote for these retards (red or blue) and will continue to do so. 

What a fuckin' surprise..... duh!


Fri, 07/05/2013 - 11:29 | 3723747 Clashfan
Clashfan's picture

What's unintended about these consequences?

Fri, 07/05/2013 - 12:20 | 3723837 grid-b-gone
grid-b-gone's picture

The unintended consequence is that this could very well be the issue that turns mid-term elections, only 16 months away.

I believe Obama really believed he was giving 35 million citizens health coverage - doing a good thing. With Bernanke printing like crazy, he was able to get reelected where "It's the economy, stupid" used to be a given.

What he didn't completely grasp is that health insurers had systematically weeded out the most expensive people to cover. His plan, in order for health insurers to go along with it, did not put that expense back on insurers, but employers. 

Employers responded by moving to temp services and increasing the ratio of part-timers to avoid the coverage mandate.

If Obama understood this, he may have delayed action hoping the Keynesian liquidity lotto dream - a real, systemic recovery, would really come true. It did not. 

Now, he has to separate himself from Bernanke's policies after supporting them for his entire administration and, as begun last week, delay his own legacy health care scheme.

If Republicans, who can alter the mainstream media message, are smart, they will highlight the connection between Obamacare and the loss of full-time jobs and repeat the message until they gain seats in November and kill the un-Affordable Care Act.

This is potentially big. 2016 was looking like an easy Hillary, Biden, or Kerry win. If played well, the Republicans can change momentum, but Obama's early move last week indicates he may have seen the chess move before the Republicans did. Otherwise, you'd see high profile Repubs playing this up in the media today.

It's game-on for the mid-term elections.

Fri, 07/05/2013 - 13:08 | 3724048 machineh
machineh's picture

Meanwhile, the Repug party can be counted on to nominate another Israel-worshipping water boy like Mitt Romney, Jeb Bush, Rick Perry, or some similar empty-suited, faux-conservative fascist dickwad.

The raison d'etre of the Depublicrat duopoly is to defend the corrupt status quo at all costs.

Fri, 07/05/2013 - 15:11 | 3724389 SDShack
SDShack's picture

Your post makes a lot of sense, but you give to much credit to 0zer0. He isn't that smart, and certianly not a strategic chess player. There is no way he thought this through like that. He is just an order taker. Unfortunately, the GOP is just as stupid. This will be a disaster for Dumbcrats in 2014 (just like 2010), but if the Senate hangs in the balance on the GOP improving their message, I predict Harry Reid will still be Majority Leader in 2015. It will take a wave election bigger than 2010 to sweep the GOP in both houses. I don't think the GOP is that smart, and the Dumbcrats that dumb to allow that to happen.

Fri, 07/05/2013 - 11:40 | 3723759 hootowl
hootowl's picture

It is the fiat-addicted indolent breeders, both domestic and illegal aliens that are filling the voting booths and draining your wallet with half-witted feral spawn.

Thank the progressive jihadists for that development.



Fri, 07/05/2013 - 12:33 | 3723938 Stuart
Stuart's picture

The TBTF PTB don't care about what the fundamentals are such as this.   They game the markets, bully the markets to their content, with regulator forebearance and event passive condonement.   1 full time job could get replaced with 3 part time jobs and nothing would change in terms of a change in market behaviour.  WE ARE NOT THE MARKET ANYMORE.  Centrally controlled HFT agos ARE THE MARKET.  HE WHO CONTROLS THE ALGOS CONTROLS ROME.  That and keep the mob decentralizaed, unorganized and ignorant.  Concentrated power corrupts.  This is what's going on.

Fri, 07/05/2013 - 09:39 | 3723355 Zgangsta
Zgangsta's picture

Of course part time jobs surge in June. Kids get part time jobs in the summer.

Fri, 07/05/2013 - 12:45 | 3723989 Totentänzerlied
Totentänzerlied's picture

Kids are applying, the pseudo-retired are getting accepted.

Fri, 07/05/2013 - 14:33 | 3724302 kennard
kennard's picture

Kids getting summer jobs is not the reason. These figures are seasonally adjusted and account for that. This month is just what it appears to be: less full-time jobs, more part-time jobs.

Fri, 07/05/2013 - 09:40 | 3723357 madcuban
madcuban's picture

but the cover of Time magazine would tell me that everything will be fantastic if we can just get veterans to paint houses...obviously all we need are more service type jobs. (sarcasm)

Fri, 07/05/2013 - 09:41 | 3723359 Yen Cross
Yen Cross's picture

     I can't wait to see the BS that gets spun up when q-2 earnings start next week. I need to go out and buy a couple of books on Harry Houdini, this weekend.

Fri, 07/05/2013 - 09:47 | 3723388 ebworthen
ebworthen's picture

Hat< Rabbit


"Earnings dissapoint on heat wave and wildfires, and global warming."

Notice how Obama jumped back on the Carbon Tax/Climate Change train and vacationed in Africa?

"Look at what I'm holding in my left hand!"

Fri, 07/05/2013 - 09:44 | 3723362 ebworthen
ebworthen's picture

Samsung sales of Galaxy 4 disappoint, as has the iPhone 5.

People without full-time jobs don't buy the newest phone!

Fri, 07/05/2013 - 09:44 | 3723377 spooz
spooz's picture

The trend towards part time employment was happening before Obamacare came along.  Reducing payrolls to increase profitability has been the trend since the 1980s, and eliminating benefits by shifting to a part time workforce, particularly for those earning minimum wage, is the way to do it:

So what if they can't afford health care and save for their retirements? Poor people should just die and decrease the surplus population.

Fri, 07/05/2013 - 09:49 | 3723404 tao400
tao400's picture

i have a business and a full time just quite. i am hiring a part time and if more work needs to be done, i am hiring another part time. It is not because of obamacare but health care in general. if i hire two part times, i don't have to pay them health insurance. i save around 5500 on that one employee alone if i had hired a full time. Health care is so expensive. it's brutal.

Fri, 07/05/2013 - 09:54 | 3723426 sudzee
sudzee's picture

So if your save 5500 is your employee getting a piece of that money?

Fri, 07/05/2013 - 10:03 | 3723445 tao400
tao400's picture

No. I am also paying the part timers less than a full time by another 20 percent. you might think that is wrong but the amount of money that I am earning from the business is also going down. So I pretty much stay in the same position. Overall, I am not making any more money. And I think that is what is happening throughout the whole economy with employers. They are just trying to continue making the same amount of money and they are fine with that. I don't know if you own a business, but it is a heart stopping moment when revenue goes down because of the fear that it could cascade. Thus, you cut costs to keep at the same profit margin.

Fri, 07/05/2013 - 10:51 | 3723652 Spigot
Spigot's picture

Do what you need to do. You are the owner. If you fold the tent, then NO ONE will be employed. You need to start saving some money off to the side, too, in case you  eventually need to fold the tent and reopen it later, or change it, etc. Go Galt for a time if need be. Most of the whiners who complain about this are entitlement morons.

Fri, 07/05/2013 - 13:01 | 3724015 de3de8
de3de8's picture

Sudzee sounds like some libtard blaming the employer for having to deal with the consequences of a economy run by other libtards. Besides the employer is not holding a gun to anyone's head unlike our government.

Fri, 07/05/2013 - 13:18 | 3724062 Meat Hammer
Meat Hammer's picture

What Spigot said +1.  You don't owe anybody anything tao.  I have the ultimate respect for small business owners and no respect for people like Sudzee who are armchair do-gooders.  

I think what Sudzee meant to say was "tao, thanks for taking the leap of faith and owning your own business. I'm sure your employees appreciate the risks you take everyday, the sleepless nights, and the stress you endure, all of which helps keep them putting food on the table."

Fri, 07/05/2013 - 11:33 | 3723752 hootowl
hootowl's picture

Hell no!

It is not "saved", if you give it away.  You also give away your competitiveness.....unless you are running a non-profit enterprise......Which you may end-up with anyway, if you give everything away.

Fri, 07/05/2013 - 10:33 | 3723576 sschu
sschu's picture

if i hire two part times, i don't have to pay them health insurance

Once O-care is implemented this is the path that many will take.  Replace two 40 hour employees with three 27 hour employees.

Employees will migrate to two 20-25 hour per week jobs to pay their bills.

Surprise, surprise, surprise.



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