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Full-Time Jobs Tumble To Lowest Since October 2018

Courtesy of ZeroHedge. View original post here.

Just in case traders – and the Fed – needed one more indication of how acute the labor slowdown has become, in addition to today's dismal 75K jobs print of course which the market took great delight in as it now means there is a virtual lock on a July (if not June) rate cut, look no further than the breakdown of full and part-time jobs.

According to the BLS, in May the number of full time jobs declined to 129,695K, a drop of 83K for the month and the third consecutive decline. In fact, for the first 5 months of 2019, a total of 218K full-time jobs have been lost, with May's number the lowest since October's 129,225K.

Meanwhile, "offsetting" this decline in high-paying, full-time jobs is the increase in part-time jobs, which in May rose by 66K to 26,981K, which brings the total to the highest level since December.

Of course, with stocks now fully in the "terrible news is great new" camp, the accelerating slide into a US recession is just what the (Fed) doctor (actually lawyer) ordered.


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