Since the peak in June 2023, the number of full-time jobs in the U.S. has plummeted by a staggering 1.5 million.
Meanwhile, part-time employment surged by 1 million year-over-year in August.
On top of that, the number of permanent job losses jumped by 324,000 year-over-year, reaching 2.5 million – the highest since November 2021.
This is the 16th consecutive month of part-time job growth, the longest streak since the 2008 Financial Crisis.
How is this a “strong” labor market?
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