Worse still, there was a net decline of 70,000 full-time jobs, meaning most of the newly created jobs are part-time. Factoring in the huge 236,000 drop in labor force participation, indicates that most of those new part-time jobs were taken by people already employed part-time, picking up a second part-time job to make ends meet. It appears that the rumors are true of companies cutting full-timers to part-timers in response to ObamaCare.
Quite frankly, despite today’s euphoria over the BLS report, these are the most troubling employment stats I’ve seen in the last four years. It is my non-professional opinion that this economy has entered its death throes. It will not survive another fours years of this. No way....
“Worse still, there was a net decline of 70,000 full-time jobs, meaning most of the newly created jobs are part-time.”
That is an important point; this is a DIRECT RESULT of ObamaCare, too. There is no recovery, and the average person knows it; Romney lost because Obama’s media convinced enough voters that he couldn’t deliver one, not because Americans believed Obama was engineering one.