Record 1 Million Full And Part Time Jobs Added

While the headline payroll print of 313K was impressive, a look under the cover reveals even stronger data: first, the Household Survey showed that a whopping 785K jobs were added in February, while the number of unemployed Americans rose by only 22K, and with the labor force rising by 806K, this explains why the unemployment rate remained unchanged at 4.1%.

But what is even more notable is that when looking at the breakdown of job additions, one finds that in February, a near record 729K full-time jobs were added, the biggest monthly increase since last September's 794K...

... while at the same time, an additional 277K part-time jobs were added to the economy.

What is curious is that while historically strong full-time months had been offset by weak part-time, and vice versa, February was an outlier, with both categories showing major gains. In fact, the combined gain of 1,006,000 full and part time jobs, was the biggest monthly gain this century.

As a result of this blockbuster monthly jobs number, expect a tweetstorm from Donald Trump any moment now.

Comments

whatswhat1@yahoo.com Fri, 03/09/2018 - 09:15 Permalink

That's pretty good news.

Until you dig deeper.

More slaves working for less pay.

Do you think your job/life sucks?

Guess what? You live like a King/Queen compared to a China-man working the coal mine or in the steel industry.

When you have some time, watch "Behemoth".

It relates directly to the steel tariffs targeting China.

 

https://openload.co/f/LSGK5HfEjKU/Behemoth.avi.mp4

 

Two-thirds in is mesmerizing.

 

instructions for the uninspired: click the arrow to get the movie started.  Make sure it's running.  Pause.  Wait 5-10 minutes based on your internet speed.  Play. 

Pool Shark Bes Fri, 03/09/2018 - 09:36 Permalink

As Denninger points out: How is it possible to add 3.6 million new jobs at an annualized rate, while the labor force grows at a 2.5 million annualized rate, yet the unemployment rate stays the same?

 

These numbers are just as fake as ever...

[Also, remember that someone is counted as “Employed” by BLS even if they only work 1 hour a week...]

In reply to by Bes

LongWalkHome Pool Shark Fri, 03/09/2018 - 12:48 Permalink

There are about 95 million people sidelined and out of the labor force who are not counted.  It's the lowest labor participation rate since the late 1960's early 1970's.  10 million new jobs could be created this year and still won't solve the problem for these generational American citizens who want to work that have been pushed out of the work force and good jobs. 

In reply to by Pool Shark

InnVestuhrr whatswhat1@yahoo.com Fri, 03/09/2018 - 11:10 Permalink

"You live like a King/Queen compared to a China-man working the coal mine or in the steel industry."

I toured China shipyards with plans for an expedition-style yacht that I designed to get bids. Unless you have actually been to China, seen how HUGELY ABUNDANT and cheap their labor is, so much so that they routinely use manual tools instead of power tools because the power tools cost a lot more than the labor, then you are only just scratching the surface of understanding how much their abundant + cheap labor depresses wages worldwide.

In reply to by whatswhat1@yahoo.com