Skip to comments.More Than Half Of December Jobs Added Were Temporary
Posted on 01/10/2014 9:31:09 AM PST by Zakeet
Once again, in its sheer panic to tout the quantity, or lack thereof, in the case of the December jobs number, the frenzied media and pundits completely ignored the quality of the jobs gained in the last month of December. Or lack thereof. Because as the simple breakdown below shows, of the 74K jobs gained in December, 55%, or 40K were the worst of the lot when it comes to wages or benefits: temporary jobs.
As for the other job additions? Well, between Temp Help, and the bottom of the barrel paying Retail and Wholesale Trade jobs, the total additions were 111K. Which means all the other, better-paying, job groups saw... a drop of 35K.
In other words, the "recovery" may be lacking in numbers, but at least it is completely lacking in quality. And oh yes: remember - when it is snowing outside, employers only hire temp workers, hence it's the weather's fault.
Nice going MSM, you were a perfect reverse barometer - again. There has GOT to be a way to make money off of something so predictable.
I predicted this 6 months ago as regular employees are converted to “29ers” to avoid Obamacare and more part-timers brought on to pick up the slack.
Unemployment is falling nicely. Celebrate the stats, part-time nation!
What this tells me is that the temps are over-counted (thus the total jobs figure is too high), because often many temp jobs belong to one hard-working individual.
And, one suspects that the jobs trackers know this quite well.
The noon news said unemployment had dropped significantly to all time lows. Of course, they failed to explain that’s thanks to part time and the new 30 hour work week which can’t support a family.
That's okay because:
More Than Half of These Job Reports Are Also Temporary.