Payrolls Rise 206K After Huge Downward Revisions As Unemployment Rate Jumps To Three Year High

“…In keeping with the BLS’ other favorite gimmick of representing part-time jobs growth as the primary driver of the US labor market, in June, the number of part-time workers rose 50K to 28.1 million while full-time workers dropped by 28K. This means that since June 2023, the US has added 1.8 million part-time jobs and lost 1.6 million full-time jobs…”