Near Record 1 Million Surge In Part-Time Jobs As Full-Timers Crash Amid Staggering Downward Revisions

[RhodyPatriot]

The whole Bidenomics economy is a house of cards more rickety than a retard's Jenga tower.

one look at this month's adjustment and it's literally a shocker: you will not hear anyone from the Biden admin or associated economist cheerleaders mention this, but the BLS reported that in July the number of full-time jobs plunged by 585,000 to 134.274 million, the biggest monthly drop since record covid crash of 14.7 million jobs!

But if full-time jobs crashed how did the BLS get an increase of almost 300,000 employed workers? Simple: it was all in the surge of part-time workers. In July, the number of part-timers exploded by almost one million - 972K to be precise - to 27.153 million.

Finally, going back to a quantitative read of the data, we look at the number of multiple jobholders - those workers who have to work more than one job at a time to make ends meet. In July, that number surged by 118K, and at 8.113 million was just shy of the pre-covid record hit in July 2019.

Putting it all together, if one believes the headlines, in July the US added 187K payrolls, and the number of employed workers rose by 268K. However, taking a closer look at the composition we find that in July, the number of well-paid, full-time workers collapsed by a near record 585K, offset by a 972K surge in part-time workers. As for the balance, it was the 118K people who discovered last month that to keep up with the economic miracle that is bidenomics, they need to work at least one more job.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

And the media will just lie in perpetuity to cover for their dementia patient.

 

[shockedcanadian]

This has been the Canadian economy for years. Even Donald H has to post here only part-time.

 

[initforme]

Cheap companies pull this garbage. It doesn't bother me when they fold up. Buh bye

 

[Thunk]

Got to love them "revisions"

Oh, did we say 27 million jobs? We meant ZERO. But we were close.

Keep voting democrat!

 

[d0gbreath]

There is legislation in congress now to make it easier to designate employees as sub-contractors. No taxes taken out (1099 filed on you), no healthcare insurance, no 401k or retirement plan, no anything really.

I'm familiar with this, as it started in construction, way back in the '80s. It actually works better in that trade. I can't imagine having to buy a computer for my cubicle. And a stapler, preferably a maroon one.

 

[1srelluc]

There is legislation in congress now to make it easier to designate employees as sub-contractors. No taxes taken out (1099 filed on you), no healthcare insurance, no 401k or retirement plan, no anything really.

I'm familiar with this, as it started in construction, way back in the '80s. It actually works better in that trade. I can't imagine having to buy a computer for my cubicle. And a stapler, preferably a maroon one.

The Strange Story of the Infamous Red Stapler In Office Space​

https://www.cbr.com/office-space-red-stapler-milton-swingline/

 

[RhodyPatriot]

The Strange Story of the Infamous Red Stapler In Office Space​

https://www.cbr.com/office-space-red-stapler-milton-swingline/

 

[citygator]

You guys are morons. That was an excellent Jobs report.

 

[RhodyPatriot]

You guys are morons. That was an excellent Jobs report.

Oh, well in the face of that air tight argument who could possible believe otherwise?

 

[luiza]

Oh, well in the face of that air tight argument who could possible believe otherwise?

It is guys like him and Wanker that clinch the argument for ditching Democracy and moving to specialised guidance , despite its many dangers .

 

[citygator]

Oh, well in the face of that air tight argument who could possible believe otherwise?

Record low unemployment rate, record number of people working, record job growth, record people in the job market, record level of productivity. It even had the courtesy to cool off a bit from the rocket ship trend it was on to calm the markets related to inflation. What’s not to like?

 

[RhodyPatriot]

Record low unemployment rate, record number of people working, record job growth, record people in the job market, record level of productivity. It even had the courtesy to cool off a bit from the rocket ship trend it was on to calm the markets related to inflation. What’s not to like?

Yes, yes we know the propaganda.

You're not imparting to us some hidden wisdom.

But you are not addressing the subject of the thread.

Are you denying that part time jobs are exploding at a near record high, full time jobs are imploding, and more Americans are having to work multiple jobs to make ends meet?

If so, let's see you counter-data.

If not, kindly fuck off.

 

[Anomalism]

more rickety than a retard's Jenga tower

Lol

 

[citygator]

Yes, yes we know the propaganda.

You're not imparting to us some hidden wisdom.

But you are not addressing the subject of the thread.

Are you denying that part time jobs are exploding at a near record high, full time jobs are imploding, and more Americans are having to work multiple jobs to make ends meet?

If so, let's see you counter-data.

If not, kindly fuck off.

Are you crazy? The data is exactly the OPPOSITE of what you just said.

 

[RhodyPatriot]

The statistics are from the BLS.

So now you're saying Biden's BLS are liars.

OK, I guess?

 

[RhodyPatriot]

More fun with graphs - these are from the BLS Household Survey:

Well would ya look at that.

But wait, there's more!

Weeee!

 

[The5thHorseman]

The whole Bidenomics economy is a house of cards more rickety than a retard's Jenga tower.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

And the media will just lie in perpetuity to cover for their dementia patient.

ZeroHedge........

Like a massive steaming pile to a dung beetle..

Remember when you answered "3.5" to every doubt of Grifty's competence...

It's 3.5 today.....

 

[The5thHorseman]

More fun with graphs - these are from the BLS Household Survey:

Well would ya look at that.

But wait, there's more!

Weeee!

Why is the Household Survey considered less reliable than the Establishment Survey?

(hint: it is why Andy Pudzer selectively employs it)

 

[RhodyPatriot]

Why is the Household Survey considered less reliable than the Establishment Survey?

It isn't - it's the exact opposite.

The Household Survey is far more "inclusive" (Lefty buzz word) when it comes to counting who is employed.

With one exception: Age. The Establishment Survey will count people under 16, the Household is 16 and over only.

It also counts the self-employed, a large contingent in America, that the Establishment survey completely ignores.

• The household survey includes agricultural workers, self-employed workers whose businesses are unincorporated, unpaid family workers, and private household workers among the employed. These groups are excluded from the establishment survey.

• The household survey includes people on unpaid leave among the employed. The establishment survey does not.

• The household survey is limited to workers 16 years of age and older. The establishment survey is not limited by age.

• The household survey has no duplication of individuals, because individuals are counted only once, even if they hold more than one job. In the establishment survey, employees working at more than one job and thus appearing on more than one payroll are counted separately for each appearance.

The Differences Between the Household and Establishment Employment Surveys

www.businessinsider.com

I even used a garbage MSM source, so as not to hurt your fee fees.

 

[The5thHorseman]

It isn't - it's the exact opposite.

The Household Survey is far more "inclusive" (Lefty buzz word) when it comes to counting who is employed.

With one exception: Age. The Establishment Survey will count people under 16, the Household is 16 and over only.

It also counts the self-employed, a large contingent in America, that the Establishment survey completely ignores.

The Differences Between the Household and Establishment Employment Surveys

www.businessinsider.com

I even used a garbage MSM source, so as not to hurt your fee fees.

Do you know anything about statistics, and sampling?