Skip to comments.Final Nail In Today's NFP (Economic report) Tragicomedy: Record Surge In Part-Time Workers
Posted on 02/03/2012 10:06:29 AM PST by Qbert
It appears the record surge in people not in the labor force is not the only outlier in today's data. For the other one we go to the Household Data Survey (Table 9), and specifically the breakdown between Full Time and Part Time Workers (defined as those "who usually work less than 35 hours per week"). We won't spend too much time on it, as it is self-explanatory. In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time jobs? They went from 113,765 to 113,845. An 80K increase. So the epic January number of 141.6 million employed, which rose by 847K at the headline level: only about 10 % of that was full time jobs: surely an indicator of the resurgent US economy... in which employers can't even afford to give their workers full time employee benefits. We can't wait for Mr. Liesman to explain how this number, too, is unadulterated hogwash, and how it too is explained away to confirm economic strength. Incidentally this is not the first time we have discussed the issue of part vs full time workers: for more see here: "Charting America's Transformation To A Part-Time Worker Society, Following 6 Straight Months Of Full Time Job Declines"
Early on folks were reminding us of retiring baby boomers which would start to push the unemployment numbers down as well. Trusting the government to publish accurate numbers is like trusting the Federal Reserve to keep accurate books.
I haven’t had a full time job in three years. I now work three part-time jobs.
From 2001 until 2007 I worked only part-time. I know how you feel.......
That won’t stop the MSM shows tonight from wearing party hats and throwing confetti.
There are 11 houses on my street, in 3 of those houses they have been forced to retire early or just leave the work force and wait for their pensions to live on .
One house has a woman working part time and another house has both of them working jobs which is well underpaid and over experienced .
Funny how the MSM was cheering all of this but forgot to add the real figures which I bet they would if it were a republican in power.
Good point. What happens when you’re 59 and lose your job? You “retire” early.
If the numbers fail, Obama can blame the Republicans in Congress for ‘mucking’ up the recovery. What a catbird seat he has!!
Man the lifeboats!
the woman right across the road, is 58 , she got laid off, did the unemployment and now dropped off the work force, she is now waiting for her pension, living off hubby.
Not sure where jobs are supposed to be created but food lion closed all stores here in FL,and SE GA.
AA laying off thousands
Sears and Kmart closing stores here.
businesses boarded up everywhere and there is a woman my wife knows who is working for half pay and hours cut in her small printing business firm.
Her employers are bit time Dems too, go figure.
"That wont stop the MSM shows tonight from wearing party hats and throwing confetti."
This would largely be stopped if one of the GOP candidates started addressing these shenanigans- and stopped allowing the MSM to distract people with their cooked-up gotcha questions...
A family member just took a clerical job for 37 1/2 hours per week.
Because you have to average 40 per week to qualify for unemployment in this state...duh!