Posted on 06/07/2013 5:35:47 AM PDT by John W
Define “full-time”. I know what that means, but what does the BLS consider full-time? I think you’ll be surprised.
From BLS: “Full time is 35 hours or more per week; part time is 1 to 34 hours per week.”
That’s the text on their web site. Even you quoted them as saying “usually”. Define “usually”.
We know from previous reports they considered full time jobs anyone that worked a single hour in a month. They even had an issue recently where they considered full-time anyone working any job or combination of jobs 26+ hours.
Source for that?
Analysis from Wells Fargo:
Moderate Job Gains: Indicate Second Quarter Slowdown
May’s gain of 175,000 jobs and a three-month average of 155,000 indicates slower Q2 GDP growth and another year of 2 percent growth without the likelihood of any case for dramatic weakness or recession. The slower job gains are consistent with slower growth. The private sector continues to be the driver of job growth, averaging 163,000 job gains over the past three months. Gains were evident across most service sectors including education & health, leisure & hospitality and business services. However, manufacturing employment has now dropped three straight months and this corroborates the weakness we have seen in regional manufacturing surveys. Construction employment did exhibit a small rebound and this supports the outlook for continued gains in housing. The bottom line is that from an employment perspective, growth continues and is consistent with our expectations of moderate growth for the economy this year.
Wages and the Unemployment Rate: Fed Policy
May’s rise in the unemployment rate suggests that the Fed will maintain its QE program through the summer, at least until September, and likely even longer. In May the unemployment rate rose to 7.6 percent, while the labor force participation rate actually rose to 63.4, off the lowest level since May 1979. This low level is a reminder of the difficulty of getting the marginally unemployed person back into the flow of the labor market. Meanwhile, the growth in average hourly earnings remained at 1.9 percent. This helps the case for moderate consumer spending gains and offsets the argument for significant consumer weakness. One theme that does continue in this cycle is that the response of earnings to lower unemployment rates has not been as strong as in prior cycles. Therefore, real income gains remain subpar.
Our view continues to be that there is more structural unemployment than many analysts and policymakers have suggested. The unemployment rate for workers without a high school diploma remains over 11 percent, while the U-6 measure of unemployment is at 13.8 percent.
Once again, you need to sharpen your google-foo and learn on our own. You always ask everyone else to do your homework for you. Sorry, kid, you need to do you own research. Just spouting the Obama administration’s talking points don’t work around here.
Obamacare defines full-time as 30 or more hours per week.
The federal fair labor practices standards do not define fulltime at all with employers being able to define it as they please.
“Refers to those who worked 1 to 34 hours “
Who worked, 10 jobs, 1 job, any number of jobs. Full-time employees are traditionally known as those that work for one company 40 hours a week, not this new fangled propaganda as 34 hours and for any number of jobs combined. Hell, just a few years ago full-time was defined as 36 hours or more with one company. I guess Obama’s numbers didn’t look so good that way.
LMFAO! I;m the one providing facts. You provide words and opinion backed up by nothing. To say that I spout Obama's talking points shows me just how stupid you truly are. Thanks for proving it so I won't waste my time talking to someone who is completely unable to understand.
From Waiter and waitress nation: May payrolls report shows the US creating jobs, just not many good ones,
And what kind of jobs are being created? As economist Dean Baker of the Center for Economic and Policy Research points out, job growth was again narrowly concentrated, with the restaurant sector (38,100 jobs), retail trade (27,700) and temporary employment (25,600) accounting for more than half of the job growth in May.
There's your recovery.
You used to have 3 people working 40 hours/week each; now you have 4 people working 30 hours/week each.
There is your job growth.
I think everyone was employed in the USSR. So we can expect this to dwindle pretty soon.
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