The August nonfarm payroll report is out, and it missed analyst expectations.
According to the BLS household survey, part-time jobs fell 234,000 to 27,999,000 in August.
Full-time workers climbed by 118,000.
That’s different from what we’ve been seeing so far in 2013, where part-time jobs have been the major contributor to overall job growth.
Workers are generally considered “full time” if they work 30 hours a week or more.
Some economists have signaled the Affordable Care Act’s employer mandate as the reason for the trend. Under the new law, the government will require firms with over 50 employees to offer health insurance. Firms looking to cut costs have scaled back worker hours as a result, according to that line of thinking. The White House announced earlier this summer that it will not enforce the mandate until 2015.
Update: The initial headline said that most of the new jobs were part-time, not full time.
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