Skip to comments.Dark Side to Jobs report: Big Drop in Hours Worked (Equivalent to 500,000 jobs lost!)
Posted on 05/03/2013 8:19:05 AM PDT by montag813
WASHINGTON (MarketWatch) The April employment report exceeded expectations, with 165,000 jobs created and a welcome drop in the unemployment rate to 7.5%.
But there was a dark side to the report: Total hours worked fell sharply, and the total amount of money earned by U.S. workers actually declined from the month before.
Aggregate weekly hours....As the name implies, it measures the total number of hours worked, which is what matters for sizing up overall growth in the economy.
Usually, we focus just on the number of new jobs created and the unemployment rate, but the number of hours we work matters just as much, if not more, to our economic well-being.
Hours worked in April fell 0.4%, equivalent to the loss of more than 500,000 jobs.
(Excerpt) Read more at marketwatch.com ...
You expect Low Info voters to understand this?
Employers are getting ready for Obamacare.
The low info voters that actually work will. They will be reduced to 29.5 hours so their company doesn’t have to pay for Obamacare.
The rest don’t work so they will just continue to mooch.
no sheet sherlock a lot of 30 hour a week jobs out there
Taking government numbers at face value is like telling yourself it looks and sounds like a rattlesnake, but it couldn’t really be one because it’s too friendly.
See, Obamacare is a jobs program. By having so many people drop down to part time, there are a bunch of part time jobs to be filled. Isn’t it wonderful? /s
Look at all the jobs that Obamacare is creating!
As employers cut all of their employees from full time to part time to avoid the massive Obamacare tax, they have to hire more employees to cover the same number of hours. One 40 hour per week job becomes two 20 hour per week jobs.
It’s like magic!
Next week I'll be working 29.5 hours, then 29.75 hours, then 29.875 hours, then ...
Hold on to your hats... October is coming!
Here's your "Hope and Change" America.
Zeno! Good one!
Work two jobs to get the pay of what one did, now that’s democrat logic.
I believe 20 hrs a week is all the young people can work in a typical week. And about 20 hrs more than they would like to work.
As long as it makes the statistics look good the Democrats/Media are happy. Of course, for those who have NOT given up looking for a job the statistics don't much matter.
Those part-time hours will be decreased in order to make room for the new part-timers as Obama care draws closer...this year we’ll see full time jobs dropping like flies.
The begining of ExtortionCare.
Employment for the new “Social Workers” at the door, making sure everyone is forced and signed into asset seized ExortionCare.
Sounds like it might be the Obamacare part time regs at work. Fewer hourss, more workers
The list, Ping
Let me know if you would like to be on or off the ping list
We've already seen the reports of restaurants and retail stores cutting back hours because of Obamacare. I agree that the trend will accelerate.
Don't look for the BLS or the media to talk about the conversion of full time jobs to part time jobs. Mum's the word...
The magic of ObamaCare....converting full-time jobs into part-time jobs. This is a disaster for the nation.
No problem. Government will just boost the minimum wage to match the lower hours. Less work, same Obamabucks
We now live in a part-time economy.
See Karl Denninger’s math :
“If you lose 12 minutes from the work week (.2 of an hour) across the entire workforce of 143.224M, then the total decline in worked minutes is 1.719B; divide this by 2,400 minutes ( 40 hour work week times 60 minutes) = 716k net equivalent lost jobs.”
Don’t worry. According to Leibniz and Newton, you will eventually make 30 hours per week.
And the stock market climbs even though sales volume is declining for most companies. These companies are simply showing higher profits because they're shedding workers and reducing hours faster than their sales volumes are dropping.
This looks like a classic deflationary cycle to me.
Low info voters got the same amount loaded onto their EBT cards last month as they did the month before, but they didn’t have to work as many hours. They see it as a ‘win’.
This angel is even worse. The gain in hours is in sectors that are professionals, so no earning gains. Losses occurred in hourly jobs.... source: the article has a click through chart...
Obama is leading the charge to make 15 hour work weeks the norm. His underlying philosophy is "lead by example"
He's following the Clinton model...brings to mind an often heard saying during the Clinton years...
..."I believe Bill Clinton created 22 million jobs...I've got three of them..."
My fault. I hired two cashiers and one stock boy this
hiring’ season. Slightly above minimum wage, 20+ hours a week.
That’s all the wiggle room I had.