Part-Time Jobs Fall
The October jobs report is out, and it was a huge beat at 204,000.
Part-time jobs fell 127,000 in October, according to the BLS' household survey.
Workers are considered "part time" if they work under 35 hours per week.
We like to look at this figure every month, as people often point to it as a sign of how healthy job growth is. Last month, most new jobs were full-time and part-time jobs fell. Though, this month the household survey data is a little nosiy thanks to the government shutdown. The report has full-time jobs falling 623,000. Read our Sam Ro explaining why the household survey data (skewed by the government shutdown) may reverse next month.
Earlier this year when we were seeing a so-called "shift" from full-time job growth to part-time job growth, some argued that the trend was due to the employer mandate in the Affordable Care Act.
Under Obamacare, employers with over 50 employees will have to offer health insurance or face penalties (though the mandate has been delayed until 2015). But as a result, some speculated that companies would reduce their full-time staff to below the 50-person threshold or simply scale back hours.