Posted on 03/12/2024 5:55:08 AM PDT by george76
The number of full-time jobs has plummeted since June 2023, with Americans turning to part-time jobs and working multiple jobs to make up the difference as economic factors like high inflation continue to put stress on consumers, according to data from the Bureau of Labor Statistics (BLS).
Since June, the number of full-time jobs has declined more than 1.8 million, from 134,787,000 to 132,946,000 as of February, according to the Federal Reserve of St. Louis. In that same time, the number of part-time employees working less than 35 hours per week has risen from 26,248,000 to 27,941,000, an increase of nearly 1.7 million, continuing the trend of a growing number of part-time positions but a receding number of full-time positions.
...
Around 133,230,000 were employed with full-time jobs in February 2023, 284,000 more than a year later, while the number of part-time workers has grown by 922,000 in that same time, according to the BLS. The number of people holding multiple jobs has surged in tandem, increasing from 7,883,000 to 8,259,000, a difference of 376,000.
The U.S. economy added 275,000 nonfarm payroll jobs in February, outdoing expectations of just 200,000. Despite the huge gains announced in the month, the previous two months were revised down by a combined 167,000 jobs.
The number of people employed part-time for economic reasons, whether that be because their jobs reduced their hours due to lack of work or they could only find part-time positions but wanted a full-time job, increased from 4,070,000 in February 2023 to 4,376,000, a difference of 306,000, according to the BLS. Americans working part-time jobs for noneconomic reasons increased in that same time as well, from 21,780,000 to 22,309,000.
Inflation under Biden has continued to plague Americans, rising 3.1% year-over-year in January, with prices rising a total of 18% overall since January 2021. In response to high inflation, which peaked at 9.1% in June 2022, the Federal Reserve has set its federal funds rate in a range of 5.25% and 5.50%, increasing credit costs for Americans in an attempt to cool the economy.
That’s what I’ll have to do when I can get my cars fixed, Lord willing (I never brag about tomorrow - ouch)
Especially since I started SS early
I for one will be glad to see the end of the propped up employee’s market where the under 35 set would just show up for work long enough to get a first paycheck, quit and go on welfare.
Trump2024.
The return of “McJobs”.
Remember, inflation is “cumulative”. So it’s tough to keep up with 20-30% price increases in many categories..
US Jobs In The Underworld! Mass Layoffs Plague Bidenomics For 2024 02/08/2024; Companies slashing jobs - percentage of workforce:
- Twitch 35%
- Roomba 31%
- Hasbro 20%
- L.A. Times 20%
- Spotify 17%
- Levi's 15%
- Xerox 15%
- Qualtrics 14%
- Wayfair 13%
- Duolingo 10%
- Washington Post 10%
- Snap 10%
- eBay 9%
- Business Insider 8%
- PayPal 7%
- Charles Schwab 6%
- Docusign 6%
- UPS 2%
- Blackrock 3%
- Citigroup 20,000 employees
- Pixar 1,300 employees
Biden’s Phantom Jobs Market! Over One Million Jobs Reported In 2023 Didn’t Actually Exist 02/07/2024
Media Lies: Those January Jobs Gains Never Happened 02/05/2024
When are 335,000 new jobs not 335,000 new jobs? When Washington makes them up and the media dutifully report them with all due breathlessness. ... The workweek, itself, contracted to 34.1 hours from 34.3 in December and 34.4 in November. This is the lowest number since March 2020 (the pandemic) and, before that, November 2008 (Great Recession)."
UPS IS CUTTING 12K JOBS AMID DISAPPOINTING SALES OUTLOOK, COMPANY SAYS 01/30/2024
Teenagers looking for pocket money and some real world job experience.
Seniors looking to either supplement their retirement income or get out of the house a few hours a day because they are bored sitting around at home.
These are low skill jobs which were never intended for people to make a career out of.
I remember my first real job in high school (other than my paper route) working at the supermarket. I shagged carriages or bagged groceries after school and on weekends. During the school day, you had all the oldsters doing those jobs but as soon as the 3-6pm shift started, they were all replaced by pimply high school kids like me. We all made minimum wage and we were happy to get it! If I was lucky, I was asked to stay on for the 6-9 "closing" shift and would get six hours pay all at once.
How does that enable them to go on welfare?
But we’ve flooded those jobs with low-skill immigrants, creating more demand for such positions than we have.
Just think of how a few high school grads in most suburban towns could happily start and build a landscaping business in town. Now Americans paying for taxes, insurance, etc., can’t compete with the immigrant hustle.
most of these aren’t immigrants.
They’re invaders who are or once were illegally present in this country.
Hopefully Trump will make that point crystal clear in his rallies- many of the “job creations” that biden bragged about were covid related jobs that were created during that time.
Biden also,brags about “lowering the deficit by $1 trillion dollars” you know what he is,referring to? Yup, canceling covid payments which would have added $1 trillion more to the debt. He Increased spending by making massive covid related payments for 3 years, then brags that he has “lowered the debt” by a trillion by finally stopping those payments.
But insurance companies and large medical groups kept their revenues high and key Obama supporters got their free HIV drugs - so I guess it all worked out. /s
We live in New York State where about 70% of the population is able to get some sort of hand out. Free stoves, free furnaces, free window air conditioners, free water heaters, housing subsidies. The list goes on and on.
You wouldn’t BELIEVE how many ne’er do wells that couldn’t’ make it on their own down South or the Midwest come hauling back up here for the free giveaways and “social safety nets.”
That’s certainly true, such as Medicaid for people with low incomes. But there is nothing about going in for a new job and quitting after a week that leads to more benefits.
I know quite a few folks who retired and are getting called back part-time because their company can't find their replacements.
The individuals don't want to leave their previous clients in the lurch and can set their hours as they see fit.
It's getting increasingly worse.
How could this be??? Best economy every. MSNBC says so all the time.
(My bills are up $1900 per month in raised rents and utility rates for my small business. YAY BIDEN!!!)
And inflation is measured differently than it used to be. Not that what was in place before 1980 was right, but it is clear that now it is grossly understated.
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