For all the talk about a jobs recovery and about a US economy that has put the great financial crisis and recession of 2007/8 in the rear view mirror, don't tell it to those workers who desire a full-time job and instead are forced to settle with measly part-time offerings (mostly courtesy of Obamacare). Because as the chart below shows, as of April 2015, the number of full-time jobs remained well below the pre-recession peak, which incidentally was hit on December 2007, the month the last recession officially started.
We bring this up because in April, while the establishment survey reported a number that was just below the consensus estimate (even if it revised the March number lower by 50%), the household survey painted a far less optimistic picture, with the number of part-time jobs surging by nearly half a million, the worst print since last June, while the number of full-time jobs tumbled by 252K, also the biggest drop in nearly a year.
Was this the peak for the full-time job move higher, and if so, will it be twice in a row that the recession has started the month full-time jobs rolled over?
http://www.zerohedge.com/news/2015-05-08/part-time-jobs-soar-437000-full-time-jobs-tumble-stay-firmly-under-pre-recession-hig
No comments:
Post a Comment