… ’cause Happy Daze are Here Again!!
As a reminder: jobs have quantity and quality components. The quantity component was good enough to convince the 10 Year the taper is imminent (if not stocks, which continue to trade dislocated from any and all fundamentals). But how about the quality? In a word: not good. In June, the household survey reported that part-time jobs soared by 360,000 to 28,059,000 – an all time record high. Full time jobs? Down 240,000. And looking back at the entire year, so far in 2013, just 130K Full-Time Jobs have been added, offset by a whopping 557K Part-Time jobs. And there is your jobs “quality” leading to today’s market euphoria (if only for now).
Math isn’t my strength, where did 195K come from? Just doing it in my head, 360k-240k=120K. I’m nearly certain any calculator would say the same…
I repeated this headline … but even reading the article I can’t tell where the 195k comes from.
But hey … HEADLINE!!
– So real unemployment is still hovering around 16 to 25%, depending on your demographic, (75% if you are an inner city black young adult.)
– Got it. But hey – HEADLINE!!onetyeleven!!!
– Mursi backers turn out – live feed from Cairo.
…where did 195K come from?
Base eight, maybe.
Iowahawk had a solid, concise take on the new numbers:
Today’s Employment Report says the number of part time employees for economic reasons “involuntary part-time workers” rose by 322,000 while the number of regular part time employees rose by 110,000.
Overall payrolls increased by 195,000 in June.
Employment Summary
Part Time Data Query Page
It should also be noted that the data for part time workers comes from a household survey, a survey of individuals; while the payroll data comes from an “establishment survey,” a survey of businesses.
TaiChiWawa, it would then seem the chart above is misleading, not the numbers (I think!).
It’s all very confusing when there are those aiming to deceive.
The takeaway though has got to be, part time work is becoming available, availability of full time employment (otherwise known as a career) is rare and barely producing a pulse.
I’m pretty sure what historically happens in this world under theses circumstances is war and conscription. I’m betting “blood for oil” is going to get real real fucking quick, and soon.
It gets worse. There are other factors to consider when evaluating the employment news:
Employment Situation Technical Note