Posted on 07/03/2014 7:16:30 AM PDT by Zakeet
Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!
Looking at the breakdown of full and part-time jobs so far in 2014, we find that 926K full-time jobs were added to the US economy. The offset: 646K part-time jobs.
Something tells us that the fact that the BLS just reported June part-time jobs rose by just shy of 800,000 the biggest monthly jump since 1993, will hardly get much airplay today. Because remember: when it comes to jobs, it is only the quantity that matters, never the quality.
... just in case there is any confusion why there is zero real wage growth (for two months in a row now), and why it will take a few more months before experts start tossing the word stagflation a little more casually.
The hallmark of the Obama Recovery: “Do you want Fries with that?”
Hmmm...you’d think that the tourism/travel industry would at least show some positive increase-what with ALL the “O” and MO travel activity! :)
Unexpected.
But the unemployment rate dropped, and that’s all that matters./sarc
Related: http://blogs.marketwatch.com/capitolreport/2014/07/03/part-time-work-jumps-in-june-by-nearly-800000/
When I was a kid, my parents had this thing called double, and sometimes even triple overtime on top of their normal full-time work. The places they worked almost always had job openings. They were factory workers and they made six-figures combined.
I guess that was the bad old days according to the libs.
Globalism has wrecked this country.
Amen. "Global Competition" is a code phrase for "A race to the bottom".
Globalism along with high taxes, onerous regulations and open borders.
With the highest corporate tax in the World, Are you surprised?
With the EPA, BLM, and the hundreds of regulatory agencies stifling business, are you surprised?
When you import 1,000,000 new low skilled workers per year legally and 2,000,000 low skilled scabs illegally coupled with tens of thousands of NEW H1B1 visas for jobs Americans WILL DO if given the chance and the pay they need to do them, Are you surprised that we have an economic disaster?
I need to study the corp tax stuff more. Talking heads on bloomberg keep saying we are low in the world. Small business folks I know though say taxes have now outpaced labor as their biggest expense. If my employer keeps tanking, I may learn first hand what the truth is...lol
The U.S> Corporate tax rate is close to 40% and that is for income derived from inside and outside the country. So, Very few global corporations actually repatriate any income NOT made in the U.S. All those foreign markets KEEP that money. The corporations invest it in new plants, research and infrastructure because if brought those funds back they would pay whatever rate on the income in the foreign country and then pay an additional 38% to the Federal Leviathan.
Also, many corporations are purchasing foreign competitors and officially moving their base of business offshore to avoid the onerous taxes here.
Walgreens just announced they are buying a subsidiary in England and MOVING their official business their. They will save hundreds of millions a year in taxes and fees with a simple paper work filing.
Several Fortune 500 companies have done the same. EATON is another. They are based in Cleveland, but are registered at a new subsidiary in Ireland saving millions per year.
Small business, the engine of a growing economy, can not afford to offshore their corporation as they are always local. They pay the real corporate tax.
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