December jobs report – the story behind the numbers: 319,000 part-time jobs…

Big government central-planning has been exercised enthusiastically in America for at least the past eight years.

Economic growth remains anemic (Atlanta Fed GDP Now forecast for 2015 Q4: 1.9%)

The U.S. labor market – 94.5 million working-age Americans are officially ‘outside’ the labor force.  The Labor Force Participation Rate (62.4%) is sitting on a 37-year low:

And the December jobs report, heralded for creating 211,000 new jobs, shows an entirely different picture when you analyze the reports more closely.

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Where The Job Gains Were: 319,000 “Part-Time Jobs For Economic Reasons” Added

ZeroHedge 12/04/15  Excerpts:

On the surface, the December jobs number was better than expected, adding a 211,000 jobs at least according to the Establishment survey. However, a less pretty picture emerges when looking at the Household survey, and specifically the composition of full-time vs part-time workers.

This is what the BLS said about the composition of job additions from the Household Survey:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) increased by 319,000 to 6.1 million in November, following declines in September and October. 

For those unfamiliar, this is a category of workers that includes “individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”

As such this includes far more than merely workers hired on a temporary basis by retailers to fill seasonal worker needs.

Furthermore, this 319K increase in part-timers for economic reasons more than accounts for the total increase in employed workers according to the Household survey, which rose by 244K to 149,364,000.

Charted, it shows that the November jump was the highest since September 2012.

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Big government central-planning is a proven failure.  It is not the solution.

The time is now for a new economic plan for America – that reduces the scope and control of government over the economic affairs of our country … and over the daily lives of citizens.

There is one plan, and one plan only that delivers.

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                   The Leviticus 25 Plan 2017 (1245)

 

 

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