(Dmytro “Henry” Aleksandrov, Headline USA) The Bureau of Labor Statistics data released on June 7, 2024, showed that many Americans took up part-time jobs last month because full-time jobs disappeared because of destructive Joe Biden’s economy.
The BLS revealed that around 133.3 million people in the United States had full-time jobs in May, which was 625,000 less than the month before. However, the number of people having part-time jobs surged by 286,000 to just over 28 million.
As a result of the loss of part-time jobs to 161 million, the total number of American workers collapsed by 408,000.
In May, despite the total decline in employed people, 272,000 new nonfarm payroll jobs were added while the unemployment rate ticked up to 4%, a separate court of the number of jobs in the economy showed, the Daily Caller reported.
The news source reported that the job additions last month were led by a 68,000 increase in the healthcare sector and a 43,000 and 42,000 gain in the government and leisure and hospitality sectors, respectively.
It was also discovered that the number of foreign-born workers employed in the U.S. skyrocketed last month, rising by 637,000 for the year to nearly 32 million, while native-born workers declined by almost 300,000.
The reason why that happened was that much of the job growth under Biden has gone to foreign-born workers at the expense of native-born workers, which led to illegal aliens flooding this country and bolstering job numbers.
Additionally, around 433,000 people left the labor force last month compared to the month before, with 100,000 of them being discouraged workers. The number of people having multiple jobs increased by 16,000 in May to just under 8.4 million.
In recent months, the economy has shown signs of slowing, with gross domestic product growth in the first quarter of 2024 being revised down from 1.6% to 1.3% and the Federal Reserve Bank of Atlanta revising down its estimate for second-quarter growth from 4.2% at the start of May to just 1.8% as of June 3.
“This is the biggest drop in full-time employment since December 2023… How is this a “strong” labor market?” the Kobeissi Letter wrote.
Something doesn't add up here:
All of the headlines say that the US economy added 272,000 jobs in May.
However, when you dig deeper into the data you can see that full-time employment actually FELL by -625,000.
Meanwhile, part-time employment rose by 286,000 along with the… pic.twitter.com/77403A2Eyu
— The Kobeissi Letter (@KobeissiLetter) June 7, 2024
