Saturday, August 3, 2013

77% of those "new jobs" are part-time (3)

From:  Zero Hedge

Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time
Submitted by Tyler Durden 08/02/2013 - 09:04

When the payroll report was released last month, the world finally noticed what we had been saying for nearly three yearsthat the US was slowly being converted to a part-time worker society. This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K. In July we are sad to report that America's conversation to a part-time worker society is not "tapering": according to the Household Survey, of the 266K jobs created (note this number differs from the establishment survey), only 35% of jobs, or 92K, were full time. The rest were... not.
and... Ten Times More Waiter And Bartender Than Manufacturing Jobs Added In 2013
Lastly check out money manager/pundit Charles Biderman's post/video regarding the current mass market psychosis induced by a strong belief in "the growth fairy":   Biderman Blasts Bernanke's "Biggest Bubble Of All-Time"

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