For every full time job created in the United States in 2013, we have created 4 part time jobs.
If we were recovering, we would be creating more fulltime positions and fewer part time ones.
According to Forbes: “Bureau of Labor Statistics data show that the ratio of part-time to full-time jobs has completely flipped this year from historical trends. Last year, six full-time jobs were created for every one part time job. This year, only one full-time job is being created for every four new part-time jobs.”
On Aug. 2, the BLS reported nearly 90 million Americans were not currently in the labor force in July, with the percentage of the civilian non-institutional population not in the labor force now registering 36 percent.
The U-6 unemployment rate is 14%; the real unemployment rate- including those whop have given up looking for work is some number above 20%.
Advanced manufacturing, on the other hand offers skilled employees greater than full time employment.
Because of the shortage of skilled employees, half of our responding companies in our monthly Business Trends Survey are scheduling overtime. July Business Trends
So why no big speeches or parades or media events celebrating Labor Day this year?
Its because of the dire employment situation, silly!