February 2013 full time jobs dropped, part time jobs increased, persons holding multiple jobs rose by all time record, BLS data

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3/8/13, "In February Multiple Jobholders Rose By A Record, As Full-Timers Dropped, Part-Timers Increased," Zero Hedge

"When it comes to government data, every silver lining has a cloud. Sure enough even today's NFP number, which on the surface was quite acceptable, had its share of thorny issues. 

Those who track the quality composition of the jobs, as opposed to just the quantity, will know that the part and full-time jobs breakdown has long been a major issue. And not unexpectedly, in February according to the Household Survey, the number of full-time jobs declined by 77K from 115,918 to 115,841. The offset: a jump in part-time workers which rose from 27,467 to 27,569, or 102K. Part-time jobs, for those who are unaware, are "jobs" only in the broadest of definitions. 

But the most surprising development in February from a quality standpoint was that the number of multiple job-holders rose by a massive 340K, which just happens to be a record. 

One wonders: 

how many actual people got new jobs, as opposed to how many qualified single individuals ended up getting more than one job in February in order to boost that much needed weekly income to sustainable levels." chart, bls data, via Zero Hedge

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6/02/12, “America’s Transition To A Part-Time Worker Society Accelerates As Part-Time Jobs Hit Record,” Zero Hedge

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11/2/12, “Chart Of The Day: America’s Geriatric Work F(a)rce,” Zero Hedge   

Change in Total Workers by age group, 

Jan. 2009-Oct. 2012, Jobs in 25-54 vs 55+:



"And one wonders why America’s labor force has no bargaining power, and why average hourly wages are imploding, and why nobody can afford anything anymore…

Finally, all of the above excludes previous disclosures that the bulk of jobs created in the past 4 years is

• in the part-time job category.”

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