On the surface the July jobs report was solid, with 209K jobs added, more than the expected, as the recent auto sector slowdown appears to skip the labor market (for now), with Trump quick to take credit for the report.
Excellent Jobs Numbers just released - and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!
— Donald J. Trump (@realDonaldTrump) August 4, 2017
However, digging through the numbers reveals some troubling features: while the Household survey reported that an impressive 345K jobs were added, more than 50% higher than the Establishment survey, the bulk of these jobs was part-time. According to the BLS, in July 393,000 part time jobs were added, offset by a drop of 54,000 full-time workers.
This was the biggest increase in part-time jobs going back to September 2016.
Having monopolized the retail sector (and branching out to others), is Amazon - which recently hired 10 part time jobs for every full time job - starting to dominate the lobs report next?http://archive.is/uTPiLhttp://www.zerohedge.com/news/2017-08-04/amazon-effect-part-time-jobs-soar-383k-full-time-jobs-slide