77 Percent of Obama's New Jobs Are Part-Time

 

While many economists have described the employment picture as gradually improving in recent months, by one measure it's not improving at all.

In July, only 92,000 of the 266,000 jobs created were full-time — just 35 percent of the total.

You may wonder why the total number of jobs created isn't 162,000, the number commonly used by news services. That number is calculated from the Labor Department's establishment survey of employers. The 266,000 is calculated from the department's household survey.

For the year through July, only 222,000 jobs created were full-time — representing just 23 percent of the total of 953,000, according to Zero Hedge.

Some economists are raising warning flags over the fact that 77 percent of this year's new jobs are part-time, saying the numbers provide a bleak portrayal of the labor market.

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