Yesterday we posted “Connecting the dots: ObamaCare may be creating jobs!”
The punch line: many companies are reported to be down mixing their work forces by reducing full-timers to part-time status … and hiring additional part-timers to fill their needs.
Today, let’s look at some macro numbers.
Total employment dropped 8.2 million during the recession.
5.3 million of those 8.2 million jobs have been recovered … but total employment is still down 2.9 million from its pre-recession peak.
Note that total employment is up 1.4 million since President Obama’s Inauguration in January 2009.
Keep that number in mind … 1.4 million.
Things get more interesting with a little drilling down …
2013 full-time employment is only about 200k higher than it was in 2009.
That’s 200k out of the total 1.4 million jobs added during that period.
So, where are the other 1.2 million net jobs that have been added since 2009.
= = = = =
Simple deduction: they’re coming from jobs’ growth in the part-time employment market.
Since 2008 — the peak of the total employment numbers – part-time employment has increased, by about 2.5 million.
Roughly half of that growth 1.2 million has happened since 2009.
In other words, roughly 85% of the net job growth since President Obama took office in 2009 has been part-time employment (1.2 million divided by 1.4 million) … and roughly 20% of the work force is now working part-time.
That’s up from 17% in 2008.
Expect that number to keep going up as ObamaCare gets implemented.