Full-Time Jobs Soar By 457K To Record High; Part-Time Jobs Tumble By 490K

Tyler Durden's picture

While Trump will surely point to the record drop in people not in the labor force - in addition to the overall 227K jobs gained - as proof he is starting off on the right foot (not to mention the S&P which remains within a fraction of all time highs), one other aspect of today's jobs report the President will likely highlight is that in January, the recent trend of "part-timing" the US labor force abruptly reversed, and according to the Establishment Survey, the number of full-time jobs surged by 457K in January to a new all time high of 124,705K.

At the same time, part-time jobs tumbled by 490,000 to 27,405K, the biggest monthly drop since last June.

If Trump really wants to undo the "Obama recovery", this is one particular trend he will want to focus on in the months ahead.

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LawsofPhysics's picture

Soooo, "everything is awesome" still? Remind me, are interest rates for bankers and financiers still PEGGED AT ZERO?!?!?

LOL! meet the new boss, same as the old boss?

LawsofPhysics's picture

Get long sharcropping and guillotines...

Beat the rush!

Hal n back's picture

the household survey shows a loss of people employed and th eunemployed i househodl survey is up.

 

the data in these reports is corrupted

cloud_boost's picture
cloud_boost (not verified) Hal n back Feb 3, 2017 11:10 AM

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do,...http://bit.ly/2jdTzrM

LawsofPhysics's picture

Repeal my ass, I am still paying much higher premiums...

duo's picture

I guarantee you that the company relocations and expansions in the USA are CONTINGENT on Obamacare being repealed. Let's see the Dems try to stop a repeal and 100K potential jobs leave.

In my business I've had quite a few people sitting on the fence start design projects since the election.

King Tut's picture
King Tut (not verified) duo Feb 3, 2017 9:54 AM

Are they waiting for rates to go higher so it costs more to borrow? They sound like pretty smart businessmen 

ZoroAustrian's picture

That is pretty hard to believe ...

Seasmoke's picture

These numbers today are an absolute joke. They contradict themselves on every other chart.This whole system is a fraud. Wow. I just sleep better with gold and silver and ignore all the rest of this noise. The peace they bring is worth their weight in Gold !!

cossack55's picture

Trump sprang for new calculators from Economists-R-Us

Dr. Engali's picture

Making America great one BLS report at a time.

TheLastTrump's picture

President Trump hasn't had time to 'fix" the dept responsible for these figures. This is an Obama appointed person releasing these crap numbers. Look at the other number thread on ZH, same weird shit.

itstippy's picture

More likely the upper managers at BLS got calls from the new administration telling them, "If you like your job, you can keep your job - provided you release good numbers."

The BLS upper managers met hurriedly with the BLS wonks and relayed the message.  Presto - good numbers.  

BLS' mission is not to find and release the correct numbers, but to determine and release the "right" numbers.  It's all goal-seeked and meaningless.  In defense of BLS, everyone does it this way including large corporations and financial institutions.  Start with a number you're comfortable with, whether it's earnings or revenue or Y/Y growth or whatever, and work backward from there.  Adjust your reporting methodology until you arrive at the number you're comfortable with.  The number should be somewhat plausible, and the process should be as convoluted and opaque as necessary to prevent outside verification.

Da chief's picture

Forex Kong is killing it with his short USD and long Gold trades...

Suggeting USD is going to bounce and then fall hard!

https://forexkong.com/2017/02/02/usd-update-failed-daily-cycle/

 

King Tut's picture
King Tut (not verified) Feb 3, 2017 9:31 AM

Retailers added many new full-time  jobs in January after that awesome Christmas sales season- those jobs went to demolition companies hired to tear down the stores they are closing

adr's picture

The high dollar malls in my area are losing stores left and right. The lower end malls look like a Chinese street fair.

When I go to China I stay at one of Wang Jianlin's complexes. His shopping plazas are amazing, better than anything I have been to in the USA. The amazing part is that there are almost no Western properties at all. Sure there are plenty of Asian copycats of European fashion marks, but it mostly China for Chinese.

Sliced into ribbons's picture

Jobs numbers are all fake right? Or do we start beleiving them now?

Dr. Engali's picture

The reports are from goobermint, so no.

silverer's picture

Two weeks in, folks.

King Tut's picture
King Tut (not verified) silverer Feb 3, 2017 9:32 AM

a few more trillion in debt should help out

Sliced into ribbons's picture

Its not bad when your guy does it.

King Tut's picture

really not into guys, sorry

Sequoia's picture

Debt is bad regardless of who is in office Reagan and the 2 Bush idiots owned 94 percent of the debt till O blow me came along.  Debt is universally toxic I abstain except for 0 percent car loans and my mortgage.

 

itstippy's picture

Finally, a plausible explanation for this conundrum.  Thanks!  

jamesmmu's picture

The sales data proves that recent hiring is a big mistake

J bones's picture

I am Losing interest at high rate of speed. I thought there was corruption in our system and this doesn't show signs of making it public.

adr's picture

Um, really?

So Trump was elected and all of a sudden all those part time workers found full time jobs? Not really possible.

How about we just use SS# and tax filings to figure out how many jobs and workers there are. We throw out all 111111111 and 123456789 SS numbers and put any name attached to those on a deportation list.

No seasonal adjustments, no birth death model, just tax records.

Let's find out how many people really are legally working in this country.

itstippy's picture

A decent programmer could set that up for you in a jiffy.  Not the clowns who built the ACA website, but good programmers.

Then the whole BLS would be obsoleted and thrown out of work.  Unemployment would spike.  Trading houses and hedge funds and large corporate investors would plug the new, accurate numbers into their models and find out that they (and everyone else) are on the wrong side of the trade and are now unquestionably and irrefutably insolvent.  

Are you some kind of terrist?  Are you a Russian stooge?  Why do you want to wreck the system?  Do you not want to make America great again?

Conax's picture

Markets have been unfuxated and it's all on the level now.

Huzzah!

Whew, truth and clarity at last. It is good to have the faith again.

ThanksIwillHaveAnother's picture

"the number of full-time jobs surged by 457K in January to a new all time high of 124,705K."

This statement makes no sense to me.  Is the 457K the new ones and the 124K the net?  Meaning over 300K were lost in the churn???

King Tut's picture

Don't overthink it- just BTFD

KansasCrude's picture

Obummer's final tribute to how great he was.....a massive increase in employment his last month in office...TOTAL BS!

nostromo17's picture

numbers seem impossible...definition change? Or is Trump now in charge of number fixer?--what the hell?

Uranium Mountain's picture

Keep it propped.   I still need to sell my house to the biggest fool!

LarryC's picture

I would hope Zero hedge would examine the numbers instead of just repeating the BS line fed to them by the MSM. Here is someone who did:http://market-ticker.org/akcs-www?post=231803

"But the unadjusted number this time around was pretty nasty. Negative 1.271 million nasty, to be precise. Remember that this is the annual adjustment month -- and magically, about 660,000 assumed labor-force entrants over the last 12 months disappeared when the labor force entrant rate was normed back against the annual census adjustment".

Have you noticed the tone of Zero hedge has changed. Its now repeating MSN and quotes Washington Post like they know what they are talking about! Constant politics instead. This site has been taken over by the same Joos that run the MSM. Goodbye Zero hedge(fucking Jews).

P'Od_Accountant's picture

I don't believe the intial jobs report, ever!  It is always revised downward, generally very steeply.  

StreetObserver's picture

Wait until the February sales numbers come in. I went to Walmart the other day and the lines were huge. Asked a cashier if that were normal and he said he'd never seen it that busy in the middle of the week.

People finally spending after the OBOYCOTT.