[nhwingut]

Also not-good was the increase in involuntary part-time employment ("economic reasons"); the total net-add was ridiculous, accounting for nearly the entire addition to employment at +275,000 this month alone. OUCH.

Does this mean that of the 288k jobs, 275k were part time? Excuse my ignorance of job statistical BS.

[kiryandil]

From the BLS:

"The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) increased by 275,000 in June to 7.5 million. The number of involuntary part-time workers is down over the year but has shown no clear trend in recent months. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)"

No, I don't think so. I think Denninger is using that number to show what a joke the "288,000" number is.

http://www.bls.gov/news.release/pdf/empsit.pdf