June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

Tyler Durden's picture

Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!

 

Looking at the breakdown of full and part-time jobs so far in 2014, we find that 926K full-time jobs were added to the US economy. The offset: 646K part-time jobs.

 

Something tells us that the fact that the BLS just reported June part-time jobs rose by just shy of 800,000 the biggest monthly jump since 1993, will hardly get much airplay today. Because remember: when it comes to jobs, it is only the quantity that matters, never the quality.

 

... just in case there is any confusion why there is zero real wage growth (for two months in a row now), and why it will take a few more months before experts start tossing the word stagflation a little more casually.

Source: BLS

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Pairadimes's picture

United States - number one producer of leisure time for working age adults!

Headbanger's picture

Moar peasants for Emperor Obomba!!

lordylord's picture

This is all by design.  The government is your ENEMY. 

GetZeeGold's picture

 

 

 

I'll take Obamacare and 29.5 hr/wk jobs for a thousand Alex!

BLOTTO's picture

Whether your working or out of a job - you're fucked both ways.

 

 

Buckaroo Banzai's picture

If you like your job, you can keep 29/40th of your job.

Manthong's picture

Happy Days Are Here Again.

Prosperity has returned.

Shocker's picture

Recovery??? think again

Layoff / Closing List: http://www.dailyjobcuts.com

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remain calm's picture

Hey we all make things look better and bigger than the are. Who hasn't stuck a sock in their pants or tisssue paper in their bra. All is good, please move along and just BTTFATH please

Oldwood's picture

SO I guess working half as much explains why my car loan is twice as long?

One can't help but wonder, with our new death panels deciding who shall live and who shall die, will those with significant debt have their lives extended while those with assets will find their plug pulled? Now that my friends, is leverage.

Oh regional Indian's picture

Just wanted to step in and say it looks like it's going to be a heck of a newsday....

Crackle in the head lines, one after another....

Ham-bone's picture

WTF???

 

'07 ---> '14

US jobs growth = ZERO

population rose by 16 million citizens

and shock, not in labor force rose by 13 million..

...and the Fed's "full" employment mandate is nearly met!

2007 BLS release http://www.bls.gov/news.release/archives/empsit_01042008.pdf

civilian labor force = 153,667,000

employment = 146,211,000

not in labor force = 79,270,000

2014 BLS release http://www.bls.gov/news.release/pdf/empsit.pdf

civilian labor force = 155,421 million

employment = 146,221,000

not in labor force = 92,120,000

US population rose from 302 million to 318 million over this period...+16 million people!!!!  Apparently all the young retired to make way for the old to keep on working???

 

nailgunnin4you's picture

'07 ---> '14

US jobs growth = ZERO

population rose by 16 million citizens

and shock, not in labor force rose by 13 million..

 

 

Oh sure, it looks bad if you are viewing it in a factual context.

onewayticket2's picture

29/40ths.....that's good enough for me!

 

love,

Elizabeth Warren

1/64th Cherokee

FrankDieter's picture

The tip of my dick is 100 % Cherokee

SoilMyselfRotten's picture

Get circumcised and put Apache on it

zerozulu's picture

I'm jobless for 4 years and 4 months now. My last job interview was 3 months ago and I almost punched that bosstered on his nose when he offered me $10 per hour , no health, no paid vacation and no overtime for the same job at the same company, I did 20 years ago with health and paid vacation for $11/hr.

onewayticket2's picture

that;s rough.  i've gone years without income....finally started my own business and making less than minimum wage....but there's upside....actual hope.

 

max2205's picture

The 1970's called and they want their jobs back

zerozulu's picture

Correction:- I was not offered the job but but that was just an opening and I applied for it and was called for interview.

RazvanM's picture

Just be pacient, it takes time for the trickle down to trickle. In 20 more years you will be perfectly happy to work for 10$/hour. Except that it won't be you to be paid, but the Apparatcick that will hire you for much less on a contract with the State.

Yen Cross's picture

  You might have to change the name of your pecker after the "Tribal Union of Amerika"sanctions you and hires dinghy(sic) 'Harry Reid' as their lobbyist.

Save_America1st's picture

and if you hate your job you better try to keep your job...there may not be another anytime soon. 

Freddie's picture

Obama, Dems, RINO GOP-e with the NWO flooding Amerika with more peasants.  Evil f**ks.

JRobby's picture

This "occupation" really lets you exercise and enjoy the outdoors

 

What is caddying?

 

Correct for $1,000

JRobby's picture

And therefore, treated accordingly.

Serfs Up's picture

"Is this the reason for the blowout, on the surface, payroll number?"

Yes.

You can thank Obamacare.  

lordylord's picture

"You can thank Obamacare."

No, let's be more precise.  You can thank the treasonous federal, state, and local governments.  You can thank all 100,000,000 brain-dead Americans who voted for Romney or Obummer in 2012.  You can thank all the government employees "just doing their jobs".  You can thank goose-stepping police who forgot their role to serve and keep the peace.  You can thank soldiers who are fighting for banker interests instead of protecting the Constitution.  

Let's not blame the ACA.  The rot runs much deeper.  

GetZeeGold's picture

 

 

Let's not blame the ACA.

 

Well, let's start there.....get rid of it.....then move onto the other stuff.

Headbanger's picture

BLAME CANADA! BLAME CANADA!

http://www.youtube.com/watch?v=bOR38552MJA

Cause they're just so un-American & stuff..

 

 

lordylord's picture

"Well, let's start there.....get rid of it.....then move onto the other stuff."

Sorry, but that is a pointless route to take.  At this rate, the ACA will be replaced with single payer. We need to pull this weed by the roots (i.e. an overbearing, too big, treasonous federal government).

TuPhat's picture

OK Lordy, let me know how that can work after you figure out how deep the roots go.  Caterpillar doesn't make a tractor big enough to pull it.

plane jain's picture

If they would have just gone straight to single payer it would probably have cost about the same and wouldn't be a drag on employment aka the 50 employee company/29 hour week.

Oldwood's picture

But they didn't have the political capital to pull it off. Crisis, especially that which is created for a specific task, is ideal for "progressing" towards the goal of a single payer world. Not just healthcare but everything. A single payer job and a single payer bank. After all, if we want protection and "justice" is there any other way?

PoliticalRefugeefromCalif.'s picture

  Look at it as kind of like priming a pump.. same strategy as flooding the zone with illegal kids from Venezuela and other more stable banana republics than ours- altho these kids may eventually be shocked at the level of corruption in their new adoptive nation..

..sometimes the people just doesn't get the larger picture- a progressive, healthy society requires proactive leadership-  /s.

Jstanley011's picture

No, let's do blame Obamacare, because it is directly and uniquely responsible for the shift toward part time employment in this economy. The effect of this act on employment ought to represent an object lesson showing exactly why socialism does not work. The fact that it is also part of a bigger socialisitic malaise is irrelevant.

pbmatthews's picture

I would note that the last 6-month period for which employers must aggregate their number of full-time employees to determine their (delayed) Obamacare mandates began on July 1st.  In other words, cut your full-time staff and hire part-timers in June so that you as an employer can come in under that magical "50" level established by our omniscient bureaucrats!!!

(The July-December 2014 period can be used to determine what benefits you must pay in 2015.)

Totentänzerlied's picture

"You can thank soldiers who are fighting for banker interests instead of protecting the Constitution. "

Indeed, you should thank the MIC, all this exceptionalism didn't just fall from a tree you know.

foodstampbarry's picture

FSA is a powder keg waiting to explode. Just wait till that shit show can't collect it's freebies anymore or it's freebies aren't worth the paper their printed on. This country is being held together by shoestring.

lakecity55's picture

Meat, do you know of the Chimpout website? It appears to have a lot of educational material on that subject.

Meat Hammer's picture

Yes, lakecity, I have perused it.  +1

tarsubil's picture

It's not as dire as you make it out to be. There is some chewing gum in addition to the shoestring.

drendebe10's picture

Standing round of applause for the corrupt, arrogant, narcissistic illegal indonesian kenyan alien muslim sociopathic liar in chief for making it happen for our country.....  hoo-rah.....

caShOnlY's picture

Bo don't have time for this!! Bo be out buying stawks!!!  BUY STAWKS NOW!! DOW 17,000!! 

PART TIME WORKERS STOP EATING AND BUY STAWKS!!!!!!!!  Be like Warren, Jamie and Lloyd and buy buy buy STAWKS!!!

CrashisOptimistic's picture

Is that a misprint or were May jobs really revised down 75K?

CrashisOptimistic's picture

It's a mistype.  May's number and April's were up 20K total.

caShOnlY's picture

Is that a misprint or were May jobs really revised down 75K?

500k jobs disappeared month over.  Deflation phase is here.  When the "UN-taper" begins we enter our next phase call "HYPERINFLATION".  Then this raging market will makes sense, as the Zimbabwians also found out. 

Stack up the last bits of shiny, kids.  Pretty soon there will be none left.