Remember the June unemployment numbers? 800,000 new part time jobs offsetting a loss of 525,000 full time jobs for a net gain of 275,000 jobs.
And BLS.gov seems to be getting very good at obscuring full time vs part time. I did a cursory look after the August numbers came out and couldn’t find where the two were broken out.
Do they just do a raw number comparison and treat part time jobs as the equivalent of full time?
Assuming a full time job is the typical 40 hour week, and the business needs to cover the same amount of hours, if each new part time job is 29 hours the 800,000 part time jobs would be the equivalent of (800,000 * (29 / 40)) 580,000 full time jobs, a net gain of 55,000 jobs.
If the average new part time job is 20 hours a week, you have the equivalent of 400,000 full time jobs, a net loss of 125,000.