Saturday, December 06, 2014

Full-Time Jobs Down 150K, Participation Rate Remains At 35 Year Lows, "No Job Market For Young Men"


While the seasonally-adjusted headline Establishment Survey payroll print reported by the BLS moments ago may be indicative of an economy which the Fed will soon have to temper in an attempt to cool down, a closer read of the November payrolls report shows several other things that were not quite as rosy. 
Indeed, looking at the numbers behind the headline number illustrates a slow-motion train wreck.
First, the Household Survey was nowhere close to confirming the Establishment Survey data, suggesting jobs rose only by 4K from 147,283K to 147,287K, and furthermore, the breakdown was skewed fully in favor of Part-Time jobs, which rose by 77K while Full-Time jobs declined by 150K.
And then for those keeping tabs on the composition of the labor force, the same adverse trends indicated over the past 4 years have continued, with the participation rate remaining flat at 62.8%, essentially the lowest print since 1978, driven by a 69K worker increase in people not in the labor force.
Article here:  http://www.zerohedge.com/news/2014-12-05/full-time-jobs-down-150k-participation-rate-remains-35-year-lows

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