It's curious how much of this type of news...
...is posted only in weekend newspapers of the MSP, and it's doubtful it received even a three-liner by the TV network anchors. As long as the Prince of Fools has his regime in charge, it's what we have to deal with. If it doesn't change in 2014, having 47% full time jobs will be a high mark for a couple generations.
An alarming aspect of the jobs report released this week is just how few Americans are working full-time. “Of the 144 million Americans employed last month, only 116 million were working full-time,” reports Breitbart. “Friday’s report showed that 58.7% of the civilian adult population of 245 million was working last month. Only 47% of Americans, however, had a full-time job.”
The number of part-time jobs in the American economy surged to an all-time high of 28,059,000 while full-time jobs fell 240,000.
If you’re wondering why the Obama administration decided to delay the implementation of the Obamacare employer mandate, this is why.
That mandate provides a heavy incentive for businesses to move their labor to part-time work by exempting those working less than 30 hours per week from a requirement for health insurance coverage.
Also, the labor participation rate continues to hover at a 25-year low:
And the underemployment rate, people who want full-time work but can’t find it, is at 14.3%:
But what’s troubling about our part-time economy is the heavy burden American workers carry in terms of government. Looking at the federal government’s revenues, 41.6% comes from income taxes. Another 40% comes from payroll taxes.
As the expense of the federal government, and massive entitlement programs like Medicare and Social Security, grows heavier the load is falling on the backs of fewer Americans who are working less hours.