Full-Time Jobs Peaked 80-Months Ago At 122 Million; June Still 3.7M Or 3% Lower

4 comments

Posted on 5th July 2014 by Administrator in Economy |Politics |Social Issues

This month’s job report showed a seasonally-adjusted decline in full-time employment of 523,000.

Let’s dive a little deeper and look at full-time employment vs. the civilian non-institutional population. The latter is non-seasonally adjusted, yet shows no seasonal variations, so we can compare to seasonally-adjusted employment numbers.

First, let’s start with a look at widely-touted gains in employment that show jobs are at an all-time high.

Total NonFarm Employment 2003-2014

Full-Time Employment 2003-2014

Full-time employment was 121,875,000 right at the onset of the recession in November 2007. Today full-time employment is 118,204,000. The difference is 3,671,000.

In the last month, full-time employment declined by 523,000 while voluntary part-time employment rose by a whopping 840,000.  Meanwhile, those wanting full-time employment (but only finding part-time employment) rose by 250,000.

Full-Time Employment 1970-2014

Never before has it taken so long to recover employment back to pre-recession peaks.

Let’s look at this another way: How fast is employment growing vs. the rise in population?

Full-Time Employment vs. Civilian Non-Institutional Population

The green line (population minus full-time employment) shows that from the mid-1980s through the start of the recession, full-time employment outpaced population growth. Since then full-time employment has lagged.

Such details shows seemingly good job numbers are nowhere near as good as widely touted.

Mike “Mish” Shedlock

http://globaleconomicanalysis.blogspot.com

This is a syndicated repost courtesy of Mish's Global Economic Trend Analysis. To view original, click here.

4 Comments
  1. AWD says:

    Hilarious. Obamacare killed 3 million full-time jobs, all so 16 million more people can get Medicaid (free health insurance and meds) and more free shit, and that didn’t include all the wetback barbarians streaming across the border. And 20 million people that were happy with their health insurance got it cancelled, and now pay 2-3x as much for crappier health insurance. No telling how many more jobs Obama and Obamacare will wipe out. Millions.

    5th July 2014 at 8:33 pm

  2. TE says:

    Success!

    There is no other explanation, except that this shit is on purpose.

    Made an indebted, dependent, unhealthy, despondent and finally distracted, nation of declining IQs and reverse Darwinism – those least able get the most resources and attention, thus insuring MORE of them.

    Because of the reality of 20 second soundbite news and political opinion, the truth is that daring to speak against it is tantamount to raping a grandmother in our Nancy Grace/Justice demanding, bored, misled, society.

    Yes boys and girls, I believe there is no fixing this shit. Comply, prepare, keep your head down.

    The collapse is still in the slowly phase, moving to the “all at once” is going to be a bitch. Enjoy today, be thankful for today, and peace.

    6th July 2014 at 10:13 am

  3. Stucky says:

    TE

    Martin Armstrong —- with all his cycle-charts which I don’t even remotely grasp — in an article, “When Will the Monetary System Crack?”, says the WORLD’S economic system will start crashing down in 2024 and take another 8 years to peak.

    So, all I’m saying is ……. RELAX …. you got another 10 good years to prep.

    http://armstrongeconomics.com/2014/07/page/2/

    6th July 2014 at 12:25 pm

  4. TE says:

    Stuck, thanks.

    Ten more years to prepare. Ten more years to comply to ever-growing statist bs. Ten more years.

    You would think this would leave a doomer feeling good, instead I start imagining how bad this country will be in 10 years.

    And puh-lease. It may be ten years before the world economy breaks, but with the wheels coming off the bus – and the buses in nearly every country in the world – I don’t know how the hell it can last that long.

    Then again, I never thought it could last this long.

    Comply, silently prepare, pray. Ten days, ten years, it really is all the same.

    7th July 2014 at 12:27 am

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