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Part-Time Jobs Soar By 437,000; Full-Time Jobs Tumble, Stay Firmly Under Pre-Recession Highs
For all the talk about a jobs recovery and about a US economy that has put the great financial crisis and recession of 2007/8 in the rear view mirror, don't tell it to those workers who desire a full-time job and instead are forced to settle with measly part-time offerings (mostly courtesy of Obamacare). Because as the chart below shows, as of April 2015, the number of full-time jobs remained well below the pre-recession peak, which incidentally was hit on December 2007, the month the last recession officially started.
We bring this up because in April, while the establishment survey reported a number that was just below the consensus estimate (even if it revised the March number lower by 50%), the household survey painted a far less optimistic picture, with the number of part-time jobs surging by nearly half a million, the worst print since last June, while the number of full-time jobs tumbled by 252K, also the biggest drop in nearly a year.
Was this the peak for the full-time job move higher, and if so, will it be twice in a row that the recession has started the month full-time jobs rolled over?
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#WinninglikeCharlieSheen
When they finally have everyone on minimum wage, then perhaps the corpulent Fat cats will be happy.
There is a word, it's called "Evisceration".
The wild white west is being eviscerated, especially the US.
A pimp and hoe society.
....
Meanwhile, if you need a Sonic Mind Cleanse , do give this a listen.. Sequence 17...good bass recommended...
https://www.youtube.com/watch?v=5BrvoWEw2J8
Full-Time Jobs Tumble
YES WE CAN!!!
Politics isn't who does most for the people, it is who lies best to the people. These guys are great liars, give them that.
May Revision: YES WE'RE CANNED
0bam0nomics = Economics + Moronics
Jobs are jobs, no one cares if people get paid enough to survive.
Bingo. TPTB love the manipulated data.
It diverts the discussion of the bigger problem quite nicely.
If everyone except TPTB worked in minimum wage jobs, the bigger problem would be more easily understood by everyone.
Class warfare, aka divide and conquer.
Hey, look- there's something shiny, gotta go.
TPTB will not be satisfied until USSA average wages equal World average wages. Welcome to the New Feudal World Order.
I know the number of full time jobs looks ROUGHLY back to where it was at the '07 peak (still shy, but in the ballpark), but the population of the country has gone up by millions since then. So it's worse than it looks on that chart.
even if you have a full time (isn't that about 35 hrs per week now?) job, it's at minimum wage and no benefits. I love the smell of recovery in the morning.
The fourth-stoopidling says this is geat for Merika! A part time job for you, and you, and you.... part time jobs for everybody along with SNAP to keep the proles at bay.
Jobs are work are over-rated Doc.
THAT is where the trouble begins...
ANy job in the system is shitty. Selling this, driving that, fixing this, people weren't meant to be so one dimensional. We are fourth diminsional beings afterall.
Well said SG...
Only the lazy can't hold four part time jobs simultaneously!
Are there not 24 hours in a day?
"mostly courtesy of Obamacare" Total fucking BULLSHIT. You completely destroy any credibility when you say shit like that.
PART TIME JOBS RULE because employers do not want TO PAY ANY FUCKEN BENEFITS!
NO FUCKEN:
>Health Care
>Dental Care
>401K
>Pension
>Vacation
>Unemploymnet benefits
NOTHING, NOT A FUCKEN THING...just the lowest wage possible with the government stepping in with the welfare system to make up for whatever the "job" doesn't cover.
You had me at hello.
Send that to MSNBC. Let's see what they can do with it.
and what is wrong with that????
Whats right with it?
firebrander, kinda tunnel vision there..our pols have put in place the wide open borders,off shoring and free trade massive regulation and taxation that has impacted those remaining employers and what they need to do to keep the doors open..
see baltimore as example of 50 yrs of one party rule.
True and Bullshit.
"those remaining employers" are paying the executives hefty salaries...they are not trying to "keep the doors open"...they are trying to concentrate the wealth into the pockets of the fewest possible.
Kendall Jackson winery...owners are BILLIONAIRS...workforce is illegals, with everyone else getting low pay, part-time, no benefits, while the state of CA picks up all the social costs...and the owners get even richer....
firebrander, your example proves my point..but your eyes are still wide shut. to bad, keep reading ZH you might get a clue.
Well, that's what you get when the yobs require no skills and you are down to mowing yards.
No. It is mostly because of Obamacare. Employers need to keep worker hours below 30 a week to avoid health insurance costs. And now they have the added benefit of simply reducing part time hours of their part time employees to avoid layoffs and unemployment benefits. At a minimum, Obamacare should redefine part time as less than 35 hours so that low wage workers can gain an extra 5 hours of pay each week.
The liberal news loves part time work. Long live the wellfare state.
Jeesh.
2 part time jobs is better than 1 full time job, for chartists and statists.
This month I was hired on by the State I reside in, at 29 hours/week.
Why? So the State didn't have to pay for Obamacare or any other benefits.
"29hrs" existed before ObamaCare. "29hrs" has ALWAYS been called part time and IT's ALWAYS BEEN A GREAT WAY TO DENY BENEFITS...LONG BEFORE OBAMACARE.
The reason for the "29hr" surge is because BUSINESS has successfully lobbied government to expand the welfare state to a level sufficient enough to entice people to work "29hrs" AND subsidise that wage with welfare.
WELFARE, OBAMACARE, MEDICARE, ALL THAT FUCKING SHIT IS CORPORATE WELFARE!
Foodstamps Are Corporate Welfarehttp://www.zerohedge.com/news/2013-07-17/foodstamps-are-corporate-welfare
Right, and corporations have been deemed "individuals" by the Supine court.
Merger of the State and the Corporatocracy = Kleptoligarchy.
Get back to work Serfs!
They had Obamas spokesman on CNBC...of course this was a great number....all is good in Obamaland...its so much show now instead of knowing what is going on in reality and tring to fix it...do people leading the country really just care about a soundbite.....or do they give a shit about this country...have a meeting and dig into these numbers..and then find out why its happening...to me if I was the leader I would want to know what I am doing and how well i am doing...you know the truth
part time jobs are good for stocks. Shows the plan of big corporations saving money by getting rid of full time jobs and having to pay for healthcare. It's the company store model. If workers can't buy necessities loan them money and force them to pay it back by getting another part time job- or cashing in their retirement or borrowing against their home (or their parents home)Or the banks can loan the government more money to give workers supplemental food stamp benefits. Our children can pay back the debt someday -with inheritanc e from their parents -unless their parents sign away all their assets to live comfortably in an old folks home for about 70 grand a year.
Cannibalism by any other name.
table a8 of report shows "only" 198k part time jobs added.
Birth death up 213k
the numbers are as the house report stated, "ficticious".
Must've missed Tyler's post on the 777k full time jobs added in January, cuz he takes this as such a key number.
Obama never promised he'd bring us full time jobs. He just promised jobs. Obamacare set the stage for 1 full time split into approximately 1.5 part time jobs. With that kind of conversion, how could our economy not meet the goal of more jobs?
Dontcha remember what they said when passing NAFTA, and CAFTA?
The internet was going to create millions of high paying yobs, all you had to do was become a compooter programmer, learn how to operate those high tech idiot-Thingy's. Gone are the days of manufacturing things, gone are the days of getting ooooo so dirty,,,, everybody will be rich, rich, rich!!!
Then, just like today we believe every little piece of lying bullshit they throw at us,,, there is no recession, the economy is grrrreeeaat, there are yobs aplenty, savings are oh so 19th century, cash is bad, printing money is good, zirp will save us, nirp will save us and so on, and so on, and s.......
Now boys and girls,,, wait for TTP. You know, just like the Patriot Act, We the Morons aren't allowed to see what's inside. BUT hey, not to worry!!!! It will boost the economy, create more yobs and on and on......Really!
TTP will make the others look like a walk in the park. Into the chute we go. Ten years from now we scream, They lied, They lied! Well, no shit Limo.
We make Idiocracy look like a viable social system!
They_took_our_jobs!
Yea, I note the sarcasm,,, but
What it boils down to is we traded our jobs for part time yobs for promises we knew were lies.
We still are...
The government believes the lost tax revenue from 29 hour income will be made up via the leisure industry, since part timers will have more time for R&R.
If you define leisure as getting high, hanging out in the streets, committing crimes...
One way or another there were bound to be job losses from the collapse of the fracking boom. Job losses are actually good, if painful in the short term, in a capitalist economy. It means that an inefficient means of employing labor was removed from the economy. The problem is, in our socialist dystopia, we all know these people aren't going to find jobs with equivilent benefit any time soon and probably not ever. The kind of active capital destruction that results from building millions of homes that no one can afford to live in and then letting them rot into vacancy instead of lowering the price; that's the kind of fallacious socialist reasoning being employed in the labor market heh.
I dislike Obama as much as anyone.....and yes the ACA has some serious flaws....but the move to "part time" jobs started LONG before the ACA. "Just in time work staff" and "flexible people resources" have been consultant buzzwords since the 1980's. The rush to reduce ALL "people costs", predate Obama care by decades. The goal has always been to revert to a plantation style economy, with a few folks living "in the big house" and everyone else working for slave wages. Big corporations NEVER saw anything wrong with the old coal mine paradigm of a "company town" with the "company store" where most folks would live, work, and die just barely making ends meet....while the corporation thrived. Outsourcing and "off shoring" were all about it being easier to exploit poor working people.....taxes, regulation, et. al. were mostly smoke & mirrors to hide the real agenda. Shareholder Value was the mantra....but it ignored the basic fact that without useful employment, soon there are only a very few people who 'own' the shares.
Last....but most certainly not least....our move to automation (which has been helpful in many ways)....has a darker side. Advanced automation makes it possible for the first time in history, to make goods using so few people as to leave width swaths of population semi or unemployed. Initially this means low prices, high profits, and happy consumers....but as the trend continues, more and more people find themselves unable to afford the basics of life...much less all the "stuff" that automation lets us build. A Catch-22 sets in where we don't employ enough people to buy the stuff that we can make.
It feels good to blame everything on the guy we don't like...and home in on one-or-two pieces of politics....but the problem of not having enough useful work at a living wage, that matches the population....has lots of facets.
A good example of what you're talking about, is the Bar Code... That was a huge game changer.
So when does Russia get the party started - Monday...?
Next winter.. when the US is feeling it's biggest hangover, January 4th.. remember that the Othodox Chistmass is after that.
All these numbers are made up. You dont revise numbers a month later by 50% if they weren't made up. You dont revise numbers years later if they weren't made up. Good or Bad they're all make believe, just like Enron's numbers were all make believe.
For all the talk back in 08-09 about looking at the bigger picture, (not month to month) we are squarely back to fake numbers moving the market on any given fictional report. We already know QE forever will take place. There really is no other way out. Either you have debt jubilee, or devalue fiat to catch up with deficits. We will never "grow" our way out of it. Its really that simple. Can't cover 80 million boomers living to 80-85. Can't fight endless wars on drugs, terror , poverty, ect. Can't fund rising medical cost. Can't fund millions of overnment pentions.
The delusion, that part time, no benefit jobs will somehow pay for this is comical. Good luck to all those 20 something not connected, who's families aren't in the top 1%, because your future without any really improvement in the way fiat is distruted is not looking good.
Oconomy #1!
awesome, I got censured on ZH for calling b.s. on them.
Where does the 437K new part time jobs come from?