Job growth was weak in May. Just as bad: the type of jobs the economy did manage to add….
…the job growth is coming entirely from workers getting part-time jobs. The number of Americans working full-time fell by 266,000 in May, erasing all the gains of the past three months. The total employment figure only rose because 618,000 more people got part-time jobs. Many of those people would rather be working full-time: The number of people classified as “part time for economic reasons” ”” meaning they’re working part-time because they can’t find a full-time job ”” rose by 245,000 to 8.1 million.