Obamacare Strikes: Part-Time Jobs Surge To All Time High; Full-Time Jobs Plunge By 240,000

Submitted by Tyler Durden on 07/05/2013 09:13 -0400

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).

June full-time vs part-time:

May Unemployment Rate Unchanged at 7.6% – Underemployment Rate Explodes from 13.8% to 14.3%

The unemployment rate for June stayed at 7.6% despite expectations of a drop to 7.5%. The real action was in the underemployment rate which exploded from 13.8% to 14.3%.



The underemployment rate under Obama remains at record levels. In June underemployment soared from 13.8% to 14.3%. (Zero Hedge)

The June unemployment rate remained unchanged.
Market Watch reported:

The United States gained 195,000 new jobs in June and employment gains in the prior two months were stronger than originally reported, indicating little slowdown in the pace of hiring during the spring and early summer.

The economy created an average of 196,000 jobs a month in the April-to-June period, down just slightly from the 207,000 pace in the first quarter. The rate of job creation appears to have held up better than expected given a slowdown in the U.S. economy and even weaker conditions around the globe.

Economists polled by MarketWatch had expected the U.S. to add 155,000 net jobs, adjusted for seasonal variations.

The Labor Department also revised employment figures for May and April to show 70,000 more jobs than previously estimated. The number of new jobs created in May was revised up 195,000 from 175,000 and April’s increase was raised to 199,000 from 149,000.

Barack Obama is the worst US jobs president since the Great Depression.

More… Youth Unemployment Rate at 16.1% in June.

GenOpportunity @GenOpportunity

Millennial Jobs Report: Youth Unemployment at 16.1% in June http://generationopportunity.org/press/m...t-16-1-in-june/ …

http://www.thegatewaypundit.com/2013/07/...m-13-8-to-14-3/