In March, the U.S. economy saw a significant shift in its employment landscape, according to data from the Household Employment Survey. The economy added 691,000 part-time jobs but experienced a decrease in full-time employment, with 6,000 full-time jobs lost. A notable portion of the job gains, about 71,000 or 23%, were in government sectors. Excluding government jobs, the total number of new jobs in March stands at 232,000, a figure that only slightly surpasses February's 223,000 and falls significantly short of January's corrected figure of 317,000. Despite the overall increase in job numbers, the fact that all new positions were part-time has sparked discussions regarding the quality and stability of these jobs. The media's portrayal of the jobs data, focusing on the headline figure of 303,000 jobs added, has been criticized for not adequately highlighting the nature of these positions as part-time, according to ZeroHedge.
This is absolutely wild: All of the headlines focused on how the "US added 303,000 jobs in March." However, if you dig further into the data, ALL of the job gains came from part-time jobs, according to ZeroHedge. Last month, the US added a whopping 691,000 part-time jobs while… https://t.co/p5tPuKHX34
The economy added 691,000 jobs in March. Bad news is that they were ALL part-time jobs. Full-time jobs fell by 6,000. Government jobs were +71,000 Manufacturing jobs were +0 How did the media portray the jobs data? https://t.co/LXloqxUedS
While these numbers look good on the surface, like much of the economic data these days, things aren’t as good as they seem when you dig in. While we saw 303,000 jobs created in March, this total includes part-time job gains. The U.S. actually *lost* 6k full-time jobs last month. https://t.co/8fo5DtyFjA
About 71,000 (23%) of these new jobs are in government. Take government jobs out of the reports, and March total (232,000 new jobs) is only marginally better than February (223,000) and far worse than January's corrected number (317,000). https://t.co/dgM834OdiN
The U.S economy added 691,000 part-time jobs and shed 6,000 full time jobs in March, per the Household Employment Survey