Those 300,000 new jobs created that you heard about on the news last month? They’re all from people taking part-time jobs. We’ve lost 1.3 MILLION full time jobs since November 2023. Remember that when they try to gaslight you that the economy is doing great.
The household survey, of WORKERS, shows full time employment is down 1.3 million since last month: fred.stlouisfed.org/series/LNS12500000
BLS survey, of employers, shows PAYROLLS have increased 300,000, just like what they are reporting in the news: fred.stlouisfed.org/series/PAYEMS
Here are the two overlaid: imgur.com/zZw48N9
Now you’re a struggling WORKER who was just laid off from your ONE full-time job, so you need to take TWO part-time jobs to make the rent/mortgage/keep the lights on. And so now you are on two separate brand new PAYROLLS
Guess which survey will show a decrease (hint: the WORKER household survey), and which survey will show an increase (hint: the employers PAYROLL survey)
Decreasing quit rates: