312K Full-Time Jobs Were Lost In Last Two Months, Offset By 118K Part-Time Hires

Tyler Durden's picture

While we already assessed the quantitative aspect of today's jobs report, which we characterized as abysmal because even when factoring in the 35,000 Verizon job losses, there was some 130,000 unexplained layoffs (sorry, it wasn't the weather), it is time for a look at the qualitative aspects of the report. And, we are sad to report, that things here go from bad to worse: while in the recent past disappointing headline payrolls were at least offset by an improvement in full-time jobs, this did not happen in May. Instead, in what may have been a BLS "kitchen sink" month, the US government reported that in May 59,000 full-time jobs were lost. This, however, was "offset" by 118,000 part-time jobs as America's transformation to a part-time worker society is bag with a vengeance.

Worse, over the past two months, the US labor force has seen a whopping 312K full-time jobs lost, offset by 118K part-time job gains.

 

The longer-term trend also shows a clear reversal pattern as increasingly more part-time jobs are created to replace axed full-timers.

And keep in mind you ain't seen nothing yet: once the full impact of soaring Obamacare costs hits in a few months, business will scramble to reclassify workers as part-time to circumvent the law's profit-extracting limitations.

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GunnerySgtHartman's picture

Jobs? BAH!  Who needs jobs when you've got the Obummer nanny state to take care of you?

santafe's picture

America is not gonna get better no matter who's President.

http://wp.me/p4OZ4v-3z

froze25's picture

Looks like the June Rate hike isn't going to happen. Bullish. lol

VinceFostersGhost's picture

 

 

Paul Ryan caved.......this is the end!

 

Only Bill Kristol can save us now.

silverer's picture

I think you may be right. The seeds of failure have been planted for 8 years straight, and the population by a majority chose that path. Where else can it go?

NoDebt's picture

I'm glad Obama's going to be increasing Social Security benefits.  Now all I need to do is get old much faster than I currently am and I'm all set.

JRobby's picture

Hello, they knew this was coming for a long time. No mass rioting under Obama's watch.

CRASH!!!!!

nibiru's picture

What rioting? They will take the guns away AND THEN they will allow people on the streets - let's be honest those military vehicles given to police have to be utilized one way or another. Brace to be the FOREFRONT of an experiment. Experience it first hand.

 

Any analogy drawn from Venezuela, EU is, of course, coincidental!

http://independenttrader.org/the-law-of-the-unintended-consequences-and-...

replaceme's picture

So, buy small cap stocks or large?

matermaker's picture

U.S. population 322 million people.

citizens under the age 21 %27.1 -US Census

number of people over 65 in 2014 was 45 million  -administration on aging

number of people over the age of 16 not in the work force 102 million.  -as of this morning

assuming that every single person over 65 is retired, over 50 million people not working which is over 20% of the working age population.

froze25's picture

Change you can believe in.

matermaker's picture

I decided to just not go any further and add up the total number of people between 16 and 65 because I am not sure that I even want to know what percentage over 50 million actually is.

silverer's picture

Then you remember the Cowardly Lion's lines in the Wizard of Oz when he enters the Haunted Forest?
https://www.youtube.com/watch?v=ZSmh0wvYJEY
Start at 1:00

matermaker's picture

I went ahead and looked.  The demographics from the Census are only up to date to 2014.   There are approximately 200 million people in the United States from the ages of 18 to 65.   Using a broad brush, this means one in four Americans of working age are not paying Social Security.

Bill of Rights's picture

Million Dollar Bullshit artist say this is all good.

tarsubil's picture

Whatever Negative Nancy. Any good serf would look at this data and see that Americans are experiencing a new high in free time.

Secret Weapon's picture

Helicopter money delivery by end of July. 

peddling-fiction's picture

The first chopper drops would probably be in Switzerland and Finland.

silverer's picture

Obama's economic miracle.

heisenberg991's picture

My employer offers unlimited overtime, you just have to sign up early to get the hours.

VinceFostersGhost's picture

 

 

Unlimited.....but you have to sign up early?

replaceme's picture

That's hilarious, something looked wrong about the statement, like "open 24 hours, just not in a row" kinda wrong....

heisenberg991's picture

You have to sign up early to get the days you want overtime before everyone else beats you to it. I work 4 days on and 4 days off so I work seven 12 hour shifts and then take a day off.

Shizzmoney's picture

I've only gotten temp jobs that offer no insurance or benefits over the last two years #ama 

Aubiekong's picture

But but but obamacare has nothing to do with any of this even though it is much more costly to hire full time now than it is to hire part time help... Right I mean Obama said it would save money...

conraddobler's picture

All part of the plan to snap the back of the current healthcare system to move to single payer.

Eventually they want to break the employer tie in to health care and when they do they will replace it with a state tie in.

The proper solutions in my opinion is to remove all state funding of healthcare that would break the back of the monopoly like healthcare system itself and force it back into the competitive arena.

No one shops doctosr for cost why?

Because we are stupid that's why.

FringeImaginigs's picture

Those single payer systems that the commie-pinko-socialists of Finland, Norway, Sweden, Denmark, Germany, France, Belgium, Luxemburg, UK, Spain, Canada and Japan, all have must be bad bad badder. Especially given that they cost about a third to half of what it costs in the good old capiltalist USA and the health care measures are uniformly better.  Capitalism good. Socialism BAD.

Jlasoon's picture

You fucking idiot! 

I work in the helthcare field - I've worked in Canada and the United States - this country wouldnt last 10 seconds with 'Canada Care'

Be thankful for what you have moron!

 

 

Bastiat's picture

Can't argue with the fact that the US gov/corporate, insurance company, big pharma, sick-care industry is a catastrophe.

south40_dreams's picture

So which bathroom do I use?

no ita lever's picture

At this point in time, does it matter?

no ita lever's picture

Nice jobs report there Ubunto...I guess you will not be saticfied until the unemployment rate is 0.0%, and the labor participation rate is 0.0%, in other words equal!!!

 

Ain't equality great?

 

Obunto's policies have wrecked America some more, now there is just a burning cinder awaiting us.

Gothic Optimism's picture

What recovery? It's the new Non-GAAP Math!