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June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993
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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United States - number one producer of leisure time for working age adults!
Moar peasants for Emperor Obomba!!
This is all by design. The government is your ENEMY.
I'll take Obamacare and 29.5 hr/wk jobs for a thousand Alex!
Whether your working or out of a job - you're fucked both ways.
If you like your job, you can keep 29/40th of your job.
Happy Days Are Here Again.
Prosperity has returned.
OMFG...Everything is fixed!
Recovery??? think again
Layoff / Closing List: http://www.dailyjobcuts.com
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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
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.
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....
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???
Oh sure, it looks bad if you are viewing it in a factual context.
29/40ths.....that's good enough for me!
love,
Elizabeth Warren
1/64th Cherokee
The tip of my dick is 100 % Cherokee
Get circumcised and put Apache on it
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 $11/hr.
that;s rough. i've gone years without income....finally started my own business and making less than minimum wage....but there's upside....actual hope.
The 1970's called and they want their jobs back
Correction:- I was not offered the job but but that was just an opening and I applied for it and was called for interview.
Just be pacient, it takes time for the trickle down to trickle. In 20 more years you will be perfectly happy to work for 10$/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.
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.
and if you hate your job you better try to keep your job...there may not be another anytime soon.
Obama, Dems, RINO GOP-e with the NWO flooding Amerika with more peasants. Evil f**ks.
This "occupation" really lets you exercise and enjoy the outdoors
What is caddying?
Correct for $1,000
And therefore, treated accordingly.
"Is this the reason for the blowout, on the surface, payroll number?"
Yes.
You can thank Obamacare.
"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.
Let's not blame the ACA.
Well, let's start there.....get rid of it.....then move onto the other stuff.
BLAME CANADA! BLAME CANADA!
http://www.youtube.com/watch?v=bOR38552MJA
Cause they're just so un-American & stuff..
"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).
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.
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.
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?
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.
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.
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.)
"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.
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.
The term is "chimpout". http://www.youtube.com/watch?v=DR-5sacEnp4
Meat, do you know of the Chimpout website? It appears to have a lot of educational material on that subject.
Yes, lakecity, I have perused it. +1
It's not as dire as you make it out to be. There is some chewing gum in addition to the shoestring.
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.....
I end is Moar Near
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!!!
Is that a misprint or were May jobs really revised down 75K?
It's a mistype. May's number and April's were up 20K total.
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.
BULLISH!!!!!!!!!!!!!!!!!!!!!!!!!!!11
.gov lost 523,000 paying tax jobs to 799,000 paying no tax jobs
Wow..................that should cut the deficit!
ROTFLMAO
Can someone explain this to me like i'm a 6 year old?
Looking at the Household survey graph.
Using my basic math skills.....it seems just in this last year to this date, we've added 1.9 million full time jobs while adding just 300k part time jobs?
Is that correct?
I just got a new job....but they only offered me 29.5 hours a week....I wonder why?
Things really be hoppin' down at the gas-a-mart.
I dare you to spin this negatively.
/s
good one ;-)
ted, something strange is afoot at the circle k.
someone, please put us out of our misery!
The Bath House has a laser-like focus on that exact subject, PlusTic!
Either keep the slaves really busy or really distracted.
Even better.....do both.
Yes CD, it worked for decades. Now it doesn't.
"Now it doesn't."
I see no significant push back from the general population as of yet. Good slaves keep ther heads down and their minds clear.
Watch the baby population. We still have not reached third world status and reversion back to hunter gatherer stage
further importation
People look for acceptable alternatives. There really aren't any...by design. We are sheep that have been herded into a pen. At this point anything we would choose to do would come at great expense, even if it is known to have superior results in the long run. Instantaneous gratification rules and the future is dead.
As most addicts report during a moment of clarity: they were aware of life slipping away but felt powerless to stop it.
We better stand up. Tomorrow is Independence Day.
Capital in-flows are distorting the picture. This "faux" recovery was predicted years ago.
I knew there was going to be another shoe dropping. Curious, if someone works two PT jobs, does that person count as two employed people (erasing an unemployed person).
You imagine they haven't thought of this?
Let me tell ya about how NIST got "office fires" to bring down a steel-framed high rise....
Fahrenheit 451 bitches.
Shirley (sic) that's hot enough to melt steel....or at least the non critical mind.
I think it does for the ADP or NFP but can't remember which.
DavidC
that's the sick part. we need a new headline metric in the age of obama - U3 and "jobs added" are meaningless when its just shifting from full-time to multiple part-time. number of employed persons / number of jobs needs to be just as prominent in every BLS report.
Likely they wouldn't know how many jobs any particular person has. So, I'd bet they show up as more jobs. To see the truth you've got to compare it to the labor force participation rate.
Recovery is great; I work 50% of the time at my day job, 50% of the time at my after noon job and 50% of the time at my weekend job. Very little time left for what some used to call 'merikan dream.'
And I thought I was the only one with that schedule!
The "American Dream" we have now was invented by Lenin in 1917!
Excellent!
What are you lazy? You can perhaps fit in 50% more on a night-shift job at those 24/7 Walmarts stocking shlves at night.
Night stockers at Wally are locked in for the night. Hard to leave and go to job 3 when you are locked in. Even if you are "done for the night"
How can people post 24 hours/day and still "work"? LOL I found ZH years ago and faithfully accepted the Word - we were broke, hyperinflation was moments away, stocks and employment would never recover, violence was a certainty, Europe was seconds from folding, folks would rise up against the Man (and support a Libertarian or like-minded candidate), "they" (bankers, Jews, Illuminati, politicians, CEOs) were part of a vast global conspiracy to enslave us, we were going to bomb Iran and Syria, etc.
NOthing has happened. We're still broke but the Fed manipulated a softer landing, violence never flared, unemployment fell, Europe survived, hyperinflation is still on hold, gold and silver sunk, Iran & Syria are still "free" of US bombs or troops, the GOP & Democrats are stronger than ever... What's a doubter to do?
"My advice to you is to start drinking heavily."
Well said. Interesting that no one has responded with a thought out reply. I would love to hear ZH readers thoughts on this exact point.
Things are still hanging together because there always has been a huge amount of slack in the American economy. Until this depression, many people earned a lot more than they really needed to live on, owned way more crap than any human could deal with, ate out more than can be imagined. All that is going away. Far more people are now earning just barely enough to live on, own way less crap, are not paying their mortgage (still millons of squatters), and aren't eating out like before. They are living with relatives and making do in a million ways, and are keeping themselves entertained.
So we're living on the slack of decades gone by: most people are still managing. They are very unhappy about things, but they are managing. Very few people want social disruption; most people have relatives with medical needs that require complex supply chains (or have some other similar need that they have no illusions about). People are very, very keen on keeping things going.
The question is whether prices rise enough and wages drop enough to make people frantic. We are getting there; I hope we don't get there but I don't see how we avoid it.
Another factor determining whether you get social disruption, is whether the potential troublemakers can continue to be co-opted. Because there is still lots of money sloshing about in certain regions and sectors, the more aggressive potential troublemakers can still grab stuff. America is still full of stuff to fleece from other people and from the government; it is hardly dog eat dog yet. Fed pumping can keep that going for a while.
U.S. Govt. Slave Participation Rate 100%
Not 100%.
100%-47%=??
McDonald's and the fast food sector must have put the wages up .25 cents for all the working poor.Now hiring until the weather turns.
so lots of time to explore your inner slacker. check.
the lies, distortions, etc?
its for the children.
Someone post the chart of U-6, which explains even more succinctly what TD tries to explain above. there's a reason its description includes "employed part-time for economic reasons"
recovery my ass.
By eliminating one full time job and replacing it with two min. wage jobs it gets that unemployment number back under control.. brilliant!- full employment can't be far off.
..the pea is under the left shell this time America- right?..
I dont think the market fully appreciates the bullishness of todays numbers.
Green shoots of Fuckery.
We all love working two part-time jobs to pay the bills.
food stamp recipients are also on the uptick
this is the new "growth economy"
so yellen, ready to cut more POMO?? of course not, the economy is in great shape so it needs more POMO
and the Dow passes 17,000 on the "good" news
fuckin A more part timers in a company less payments they have to doll out for their health care.
Companies can put that extra money into bonuses for the ceo and all his helpers.
Great start to the "Independence Day" weekend.
BUY!!!!!!
What happened in 1993? That graph looks like a nuclear bomb went off
I don't know Spungo. I was still a sheeple asleep in 1993. Didn't wake up until I got closer to retirement and realized it wasn't all sunny days ahead. Now I feel like I have been robbed. Worked and saved most of my life for something that I will never have. I am retired but it isn't like I had hoped or expected it to be.
The new American Reality
Happy 4th! We have come full circle in 238 years.
And they are!
I have to work 'some hours' so part time jobs are a win-win.
Because if I work full time I lose;
my welfare, free cell phone, food stamps,
fuel assistance, free health, dental and vision care,
daycare, section 8 housing, pet care assistance,
tuition assistance, substance abuse free help,
free legal assistance, free job training, ...
...i think you left out Free ACCESS pickup and return home, for your rehab appointments.
Your own private limo, since pubic transportation is inconvenient and it smells bad.
Most people are not aware of how corrupted our "welfare state" has become. But we still know in our gut, because we see handicap parking everywhere yet see few handicapped people using them. Most are simply overweight, too fucking fat to walk to the door.
the EEOC is out of control, pressing employers for just plain stupid things, like this case in Wisconsin where they are suing a company because they fired people who could not speak English as they deemed communication as a vital component of being able to do their job.
http://www.judicialwatch.org/blog/2014/07/u-s-sues-american-co-requiring...
Yeah, but that is normal for a Fascist/Commie type government like we now have.
Get with the Program, son! Inside every American is a serf trying to get out!
SS Disability for being overweight and ADD.
The Eloi
THE SHIT-SHOW.....CONTINUES BOYS AND GIRLS...
HAPPY FOURTH TO YOU FELLOW 'MERICAN ZH ALUMNI....
closing shop for the faux "Independence" holiday....
...done enough laughing and swearing this week............
fuckin A
...somebody asked me how I celebrate the 4th while living in Tokyo. LOL. I celebrate by living in Tokyo, thus relieving myself of the pain of faking it in the US.
Fukushima fireworks?
Yahhh! Everything is AWESOME! I feel more awesome than an awesome possum!
https://www.youtube.com/watch?v=StTqXEQ2l-Y
Nice time to apply for the bell system - TACO bell
ok, so why didn't the establishment survey report lower avg. weekly hours?
you would think such a record shift to part-time from full-time would have caused even a tenth decrease in average hours, no? instead they were flat, at 34.5...
If you wish to prepare yourself on how to refute the lie of "stagflation:"
"The tyranny of modern economics coined the term "stagflation" as the means to deceive its victims from not properly identifying its cause. By insinuating that the condition is a mysterious collision of two mutually exclusive events, the stealers are maintaining their smoke screen that a little counterfeiting is good for an economy and that there must be some other event not related to the counterfeiting that is exasperating the situation and causing a decrease in productive work...Thus, status quo sorcerers spellbind sophistry as students seeking sagaciousness are sung a superb soprano of spurious suppositions instead and not so surprisingly stupefied students silently submit to the Siren's song [of tyranny]." http://ocsure.blogspot.com/2014/06/stagflation-is-inflation-of-counterfe...
Alliteration for its own sake.
Knock it off.
Okay, I have removed it from the article and changed it to, "Thus, the status quo is sorcery."
Thanks for your advice.
While the sheep are frothing over the bright, shiny object the BLS just berthed, some additional realities:
http://www.usdebtclock.org/index.html
The real story is inflation.
The lack of inflation in wages.
The increase of inflation in food and energy.
The payroll numbers are irrelevant.
If people can no longer afford to eat.
If people can no longer afford to travel to get to work.
The truth will reveal itself very soon.
Devaluation is killing everyone.
I do (did) a lot of second-hand sales and I have to tell you, things are drying up, bad. People can't afford middle-class tchotchkes even at cut-rate prices anymore. Strictly the neccessities or things that they can expense to their biz if any.
In the next phase of the drama the fed will bring down the usa under the crippling weight of its own debt load, and blame the puppet politicians for the disaster.
+1.
Financial crisis = soveriegn crisis = political crisis = public (currency) crisis. Its coming for sure.
Bullish on "Brew your own" kits.
No, the real story is the destruction of American productivity by the socialist policies of the government. That's why wages can't keep pace. When you're poor, of course, everything becomes less affordable.
Wall Street investment bankers show rich CEO's how to use socialist policies to maximize profits overseas.
You, like many idiots on WS, don't care about America anymore.
It's their socialist policies that undermined American productivity.
Chuck - You nailed it. It is time for round two of the bust phase. Deflation. A lot more part-time $10 jobs just to survive are coming. Energy prices should ease soon but food prices are sticky. That will decline a bit as well but I don't expect much.
It is imperative now to spend a couple of those tens on a gym membership and multivitamin. Being heavy and having illness by being overweight will end your life early over the next decade as .gov cuts in draconian fashion. Cut out the sugar and complex carbs, go proteins. Poultry is still cheap. Adkins diet with some ruffage thrown in like romaine or spinach can be done for $60 a week. My supplements and light med makes it $80 a week.
In general though we are becoming to resemble Mexico awful quickly.
We can all go to Canada. Go North, young man, for a better life.
( yes, it's sarcasm)
Try some grass-fed butter and coconut oil in your coffee.
Great for the brain, and an appetite suppressant.
Vitamin D3 will keep your immune system healthy.
Vitamin K2 in the grass-fed butter will help your body manage Calcium.
Keep the Calcium in the bones and teeth where it belongs.
The increase in bone density will make you stronger.
All this equitiness just makes plutocrats all the more ripe for beheading. Yellin is now at the top of the list.
Did you hear how much security detail she takes with her? I read a story that her neighbors are all pissed because the Fed cops bought a house down the street just for her security detail to live in, with a camera on the roof to spy on all the neighbors. It's like a frat house. The neighbors said all the Fed police are fat and dress like schlubs. They are not even real cops, but have all the authority they ever need.
Valerie Jarrett has more SS than Bath House.
A frat house with Room Service. Yum, yum...
Obama - set up for the fail
Yellen - set up for the fail
etc.
Obaba & the Dems lie and lie and lie.
But maybe this is the one time, like a lightning bolt out of a cloudless sky, that this bandit regime of creeps, crooks and corrupt told the truth?
Smart money says, "Shovel this sh*t."
I think we need to move to an hours worked model instead of a jobs model. The ability to fudge the definition of a job is too high.
exactly!!!! we could also use a taxes paid per benefits received chart of hours worked, as well. I can't find long run charts for the sum of full time and part time hours worked anywhere.
Happy "Independence Day" to the home of the sheep and the land of the slave.
what a downer...think I'm going to have to grab me a nice shiny new stack of phyzz Ag today to lift my spirits. Then it's off to the gun range to launch some lead fireworks down range. :-)
"...o're the Land of the Freebie, and Home of the Deranged..."
The absolute worst place to live on earth, except for everyplace else...
*salute*
Mark it a zero dude
How come Santelli didn't mention this on Boring Joe.
Does .Gov publish a chart of Yearly Income Tax Revenue?
Or did that disappear on a crashed computer?
What age group is working?
25-54?
http://research.stlouisfed.org/fred2/graph/?g=ELm
Looks like 20-24yr olds got the nod this month... Summer jobs.
http://research.stlouisfed.org/fred2/graph/?g=ELq
Let us be thankful they are giving workers lots of free time to do fun things!
(though not the money) That is reserved for "job creators" and Traders who get money at 1/2%. The partimers can borrow at 9% to go to school, or at 15% to borrow and attent their favorite sporting events, shop, etc. .. and have fun, you know!
And 4th of July Freedom Fireworks!
Welcome to Wal-Bama.
JOBS by YELLEN = poverty row!!
Let me get this straight.....111,000 DECREASE in LABOR PARTICIPATION, 523,000 FEWER FULL TIME JOBS (20,920,000 HOURS WORKED) versus 799,000 PARTIME JOBS added if the average work week for those PARTIME jobs is 26 hours or less then its a wash with the 523KFULL TIME jobs lost.
The 111,000 fewer in the Labor force is a big loss given the above factor....BTW....don't forget the 75,000 jobs wiped out of May.
THIS SHIT IS EXPECTED TO PASS OFF LIKE A BIG WIN! DON'T KNOW WHETHER TO LAUGH OR CRY BOUT THAT SO I'LL DO BOTH...Anectdotally our daughter nabbed a nursing intern job this summer and is happy as can be about it (we are too) She was delayed abit at the start due to budget constraints. The job is targetted at 26 hours a week found out last year it was targetted at 32. Can you say thanks Obummer.....
Added to the stack at slightly better than yesterdays close in Ag, Not nearly what I expected as there was no way the BULLSHIT Machine was not going to spin this as a save the day report.... Either way the expected selloff looks pretty marginalized so far.
Did someone mention we are so screwed......
do you know where to get a long term chart of total hours worked (broken down by full and part time if possible)? I can't fiind one on the BLS site.
Yeah-but healthcare is now free!
This is how they get the people to agree to illegal immigration by lying to them that there are so many jobs that only 6.1% are unemployed while 1/3 of the entire population is not working. Typical Communist Propaganda and no challenge in this country because of a lapdog media who will do anything to bosost this clown!
Solid point, but I think the biggest way they get people to agree, apart from the latest obvious scheme to make it around 60k kids -making it extra hard to deny the right of anyone who makes it to stay, is they frame it as "you aren't a racist, are you?"
I mean - I don't want to be racist... and I also genuinely don't blame some guy for wanting to escape El Salvador. It is a shithole, made worse by years of US/CIA involvement, but a lot of it is just home grown crime... and the fucking heat, man...
I even admire someone willing to leave home because washing dishes for rich assholes in the Upper West Side is a 'better life.'
Still - doesn't seem to be good for the country. As it is, I take a train in the morning and when the bus pulls up, maybe 80% of the people getting off are Indian... as in from India... mostly IT people, I think, shipped in to work for cheap.
Clearly, this isn't good for the real economy - it's good for corporate profits, of course, which is primarily why its done, but the fact immigration is so high to the US, Europe and Canada when the economies are so bad is strange.
I do think there is some philosophy, if not a plan, by TPTB to change the demographics... whether its globalists looking to break down national identity I don't know, but, take Ireland - tiny country, only 100 years into finally getting independence, and now 20% of the population is foreign-born...
Granted, the Irish have happily emigrated for jobs for years... but their economy has been shit for a decade... so why are Poles and Sudanese being allowed into the country in the thousands even as the natives fuck off to Britain to try to find work?
"EL Salvadore" is coming here.