America's Current Jobs Picture: Part-Time Jobs Surge By 161,000; Full-Time Jobs Tumble By 349,000

Zero Hedge ^ | 07/02/2015 | Tyler Durden

[SeekAndFind]

While the kneejerk reaction algos were focusing on the +223K jobs number reported by the Establishment Survey, few if anyone notched that the Household survey reported a decline of 56,000 workers in June.

But what's worse, is that according to this survey which according to some is far more reliable than its peer, the composition of the US labor force once again deteriorated rapidly with part-time jobs added in June surging by 161,000 while the number of full time jobs tumbled by 349,000.

 

Putting this number in context, while the total number of US workers has long since surpassed its previous crisis high, the number of full time US workers has yet to overtake its November 2007 lever of 121.9 million, and in June dropped to 121.1 million.

 

Why is this a problem: because while the US still has 800k full-time jobs to go to at least regain the prior peak, during the same time period the US civilian, non-institutional population has risen from 232.9 million to 250.7 million: an increase of 17.724 million!

[Cedar]

Interesting. Thanks for posting.

[11th Commandment]

Interesting. Mark Twain popularized the saying, "there are lies, damned lies, and statistics". Sometimes statistic don't lie, they just don't reveal the truth.

It can be surmised from Zero Hedge and the labor participation rate (BLS), that the number of individuals that have one than one part time job has increased. In short, the unemployment rate tells us very little about the condition of the labor force.

[VTenigma]

Another tough day for my liver, UNEXPECTED!

[Marko413]

My wife just got offered a 2nd part time job which will finally put her back at a full time work week. We are very happy and thankful for the work because it’s been paycheck to paycheck for years now. That being said, I’d guess these numbers are more accurate than the other stuff coming out of the white house.

[shotgun]

What did the country expect from a part-time president!

[LMAO]

This is actually good news.

Unless you want a full time job, make a good wage, need to be able to pay your bills...

[SoFloFreeper]

Obamanomics. Disaster.

[Nero Germanicus]

Unemployment Rates for States
Monthly Rankings
Conservative Red States dominate the top ten in low unemployment rates
May 2015
Rank State Rate
1 NEBRASKA: 2.6
2 NORTH DAKOTA: 3.1
3 UTAH: 3.5
4 VERMONT: 3.6
5 IOWA: 3.8
5 MINNESOTA: 3.8
5 NEW HAMPSHIRE: 3.8
5 SOUTH DAKOTA: 3.8
9 IDAHO: 3.9
9 MONTANA: 3.9