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-- -- -- You know 322000.
People working part time jobs because of the economy they don't want to work part time but they are.
Also we sought seven million people holding multiple jobs.
And then another million people up a quarter million this current workers beneath the surface those are alarming -- Absolutely.
Acted the part time.
Job growth at the expense of full time job growth.
Is a very very cutting edge issue here are we developing in the United States.
A thirty hour week threshold.
Because of Obama care.
Are we doing something in the US -- the way the French did with the 35 hour work week.
In which case we're creating a major shift in employment.
We have about three and a half percentage points more.
Part time workers than the normal baseline of the business cycles.
That's five million people are so.
Who say I'm looking for a full time job and I can't find it.
Can they not find it because the employer won't offer it and we're seeing evidence of that now more and more.
You know there was -- time I guess years ago when traditionally come out of a deep recession a lot of job loss and you would see -- You know part time jobs within those part time jobs will be sort of segued into full time jobs that's not happening this time around.
It's your point a lot of people points obamacare but.
Is there something else going on it just sort of a new paradigm where.
Because of all the rules all the regulations all the penalties maybe this is that maybe businesses think the only way we can compete in this environment as -- keep most people have part time.
It it seems to be the case we see that among their clients those are anecdotes.
But we see a number of them and and -- we also see something else if you look at the job creation numbers in the last employment report.
Those jobs -- in the service sector.
And they were in the lower wage levels.
The multiplier is -- larger in manufacturing.
And those job creation numbers were very weak some of them were actually negative.
And so I don't want to disparage work I think any job should be respected and anyone who works should be praised.
But we are using in employment number.
Off of a category that softer.
And to base policy Federal Reserve policy tapering.
To cheer about the employment report from the federal government because of these numbers I think is an over reach.
Yeah I gotta tell you David and again you know job the job of people are happy but leisure hospitality and -- Very low paying jobs and those are over half of the full time -- statement that that's a lot will talk you real soon.
Thank you know our next guest says that now.
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