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Financial news: the economy

No.1302353 View ViewReplyOriginalReport
Mays job report hits home.
Biden is destroying America. YoY, full time employment has plummeted, and part time employment has boomed.
1317000 full time jobs were lost and 1553000 part time jobs were gained!
The net employment figures biden's admin is touting is literally all people working part time or needing to take on a second job!
Source: U.S. BUREAU OF LABOR STATISTICS https://www.bls.gov/news.release/empsit.t09.htm
https://dailycaller.com/2024/06/07/full-time-jobs-vanish-part-time-work-bls/
https://www.advisorperspectives.com/dshort/updates/2024/06/07/a-closer-look-at-full-time-and-part-time-employment
Full-Time Jobs Vanish While Americans Race To Take Up Part-Time Work

Americans took up part-time jobs in huge numbers in May as full-time jobs evaporate under President Joe Biden’s economy, according to data from the Bureau of Labor Statistics (BLS) released Friday.

There were around 133.3 million people employed in the U.S. in May with full-time jobs, 625,000 less than the month before, while the number of people employed in part-time jobs surged by 286,000 to just over 28 million, according to the BLS. The total number of American workers collapsed by 408,000 as a result of the loss in part-time jobs to 161 million.

Buried near the bottom of table A-9 of the government's employment situation summary are the numbers for full- and part-time workers, with 35-or-more hours as the arbitrary divide between the two categories. The source is the monthly current population survey (CPS) of households. The focus is on total hours worked regardless of whether the hours are from a single or multiple jobs

The Labor Department has been collecting this since 1968, a time when only 13.5% of US employees were part-timers. Over 55 years later, the total number of part-time workers has reached 17.4%.

Here is a visualization of the trend in the 21st century, with the percentage of full-time employed on the left axis and the part-time employed on the right.