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Wall Street Journal Senior Editor Steve Moore and Tom Sullivan discuss the breakdown of February’s jobs report including the decrease of full-time j...
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And that majority is here's -- -- have the top of the stack guy I am hoping for a good recovery recovery in a good economy.
All of bizarre but the jobs -- the unemployment report released a week ago.
Showed 236000.
New payrolls were added in the month of February it was a much bigger number that -- expected in the media was off to the races and talking about rebound in growth and recovery were all the buzz words but there's much more to this story that hasn't been told.
Joining me now Wall Street Journal senior economic writer Fox News contributor Steve Moore and Steve what what was probably about this it was a great headline number.
But I want -- to.
Go through these numbers don't.
Together here because the 236000.
Let's bring up that -- -- of 236000.
Jobs were.
Or pay -- were created.
But what I saw in there was 77000.
Full time jobs were lost in February.
-- hundred in 2000 part time jobs were a lot of those jobs that were created.
And that record 340000.
Increase in people holding multiple jobs what does this say to you.
-- top what it means is that Americans are finding jobs but they're not finding full time jobs that give you a full time salary and that's a big problem.
And I think there are a lot of contributing factors to that there's still a lot of uncertainty and there's a lot of our reluctance of employers to bring out new.
Workers full time because they're not quite clear where this economy is headed.
But there's a related problem to this -- which is that you've got laws like the Affordable Care Act they Obama care law.
That basically really punishes employers if they hire people for more than thirty hours a week because then you have to provide all of these health care benefits.
I've talked Tom to a lot of employers people won't.
Fast food restaurants or retail stores is that you know what I'm cap on my employees that 28 hours a week so I don't have to load up all of these benefit.
It's yeah I I know that there's some new rule about the fact that they're gonna count.
Number of hours of somebody works everything else but they're gonna go back and use an average so it is looks like possibly in -- -- -- This is going to kick in do you expect this to.
Be a trend for the rest of the year.
I -- Tom I think that this is kind of the hidden secret.
The health care a lot something that will be very harmful to workers that.
They're not gonna be able to find people -- that that employers are not gonna hire people for forty hours week let me get real concrete example what I'm talking about.
I talked to owners of -- McDonald's burger kings Wendy's and it's not uncommon now for the guy who wants the mcdonalds.
To hire a worker for twenty hours a week.
And then -- worker goes across the street and works at the murder can't for -- -- hours a week and the workers at the Burger -- -- just the opposite and the reason they're doing that Thomas to get around this thirty hour week role because if you try have to provide these expensive health care benefits to workers -- can't afford to hire about that at all.
But what we -- the 236000.
Job they're it was much better number than anybody expected right.
Right it seems like it's kind of a head fake because -- really wasn't right it was payrolls but it wasn't 236000.
Full time jobs.
Good point I agree with you I think that was a misleading number well known more as we look at the next few months you know whether this is a -- but right now I mean look.
Part time employment is a big problem in the US economy because people can't find full time job if you look at the new numbers -- There were eight million workers who are looking for full time work who are listed as employed but they only have a part time job that's a big problem.
It is a big problem.
Steve Moore thank you always appreciate your input very very much.
Thank you -- -- bad but.
