Multiple jobholders have been responsible for 64% of net job gains since spring

[30 cal slut]

BLS headline data is misleading. Can't fool the financial markets.

This is cut and pasted from a press release from a well-established economic forecasting outfit.




https://www.businesscycle.com/ecri-news-events/news-details/economic-cycle-research-ecri-updated-multiple-jobholders-boost-full-time-employment

Updated: Multiple Jobholders Boost “Full-time” Employment
January 8, 2016

The latest jobs report far exceeded consensus expectations as the economy added 292,000 nonfarm payroll jobs.

But a closer look at the details reveals why concerns remain about the health of the labor market.

https://ecri-prod.s3.amazonaws.com/downloads/160108_JobGrowth_web_W495.gif

In December, year-over-year (yoy) growth in multiple jobholders rose to an 11-month high, while yoy growth in single jobholders eased to a three-month low. Specifically, since May the number of multiple jobholders has increased by 752,000, while single jobholders have increased by 429,000. In other words, multiple jobholders have been responsible for 64% of the net job gains since last spring. The disproportionate importance of multiple jobholders – forced to cobble together a living – shows why the labor market is weaker than it seems.

Notably, as long as these multiple jobholders log 35 hours of work per week — no matter how many part-time jobs that takes — they are considered full-time.

[THCDDM4]

BLS headline data is misleading. Can't fool the financial markets.

This is cut and pasted from a press release from a well-established economic forecasting outfit.

If the general public actually knew the true numbers on unemployment, the job market, debt/unfunded liabilities and our economy/country as a whole- we would have whole sale panic in the streets. Numbers can be turned around any way to confuse mental midgets into buying any lie there is.

[Averageman]

If the general public actually knew the true numbers on unemployment, the job market, debt/unfunded liabilities and our economy/country as a whole- we would have whole sale panic in the streets. Numbers can be turned around any way to confuse mental midgets into buying any lie there is.

This for the Win.
A whole segment of our population lost any incentive to even continue to look for a job, I have no clue what they are doing or how they are making ends meet.
On the other hand, I know some immigrants who will hold down multiple jobs, go to school at night, pay their bills and never accept a nickels worth of "Freebies".

[soulezoo]

If the general public actually knew the true numbers on unemployment, the job market, debt/unfunded liabilities and our economy/country as a whole- we would have whole sale panic in the streets. Numbers can be turned around any way to confuse mental midgets into buying any lie there is.

Only partially agree... Yes the numbers are continually manipulated and general public being morons for the most part (or just don't care) means nothing is going to happen. For the first part, as long as the FSA gets handouts, there will be no "wholesale panic in the streets". That is precisely what welfare and other giveaways are designed to prevent. Bread and circuses.