Tag: Part-time contract

John Currie’s new part-time job: $92K at Passaic County welfare board
Welfare

John Currie’s new part-time job: $92K at Passaic County welfare board

Democratic Party chairman John Currie has landed a part-time job with the Passaic County Board of Social Services that pays him $92,000 a year to help get the word out to the public about welfare benefits. “I’m doing a job.
I’m entitled to do have a job, and I’m doing a good job.”
The new job comes with no set hours, and it significantly boosts Currie’s public salary at a time when he’s nearing retirement, which will jack up his pension.
Currie has served on the county board of elections for 21 years, but at a miniscule salary, currently $22,000 a year.
(Photo: Mitsu Yasukawa, Mitsu Yasukawa/ Staff Photograph) Depending on how long Currie stays on the job, the salary bump could increase his pension significantly.
Not surprisingly, Currie had the support of both Democratic freeholders who sit on the Board of Social Services, Assad Akhter and Bruce James.
“I’ve known John Currie for a long time,” said Peter Murphy, the Republican leader from Totowa.
Traier was recently appointed to the Passaic County Board of Elections and serves with Currie.
“People are really cynical about government,” Traier said.

America’s part-time worker problem is permanent, San Francisco Fed says
Unemployment

America’s part-time worker problem is permanent, San Francisco Fed says

The US job market is one of the bright spots in the global economy.
One problem persists: A historically high number of Americans have part-time jobs, but want full-time positions. “In the absence of public policies aimed directly at altering work schedules, it looks like higher rates of involuntary part-time work are here to stay,” San Francisco Fed economist Rob Valletta wrote.
But it’s 40% higher now than it was when unemployment was last that low in 2000.
Workers describe the jobs as “dead ends” with high demands from employers and low pay.
In 2006, despite a higher unemployment rate than today, there were a million fewer part-timers.
Since the Great Recession ended, the average has been 7.2 million.
Involuntary part-time workers are five times more likely to live in poverty than full-time workers with similar jobs.
On average, they earn 19% less per hour than full-time workers in the same position, according to a 2017 analysis by Rebecca Glauber, a sociology professor at the University of New Hampshire.
Glauber found that involuntary part-time employment had fallen 30% for white, Hispanic and Asian-American workers since the Great Recession.

Jobs miss big, unemployment rate falls to 16-year low
Unemployment

Jobs miss big, unemployment rate falls to 16-year low

Jobs miss big, unemployment rate falls to 16-year low.
The pace of job creation in the US slowed by more than expected in May, and less participation in the labor market helped to push the unemployment rate to a 16-year low.
The economy added 138,000 nonfarm payrolls, while the unemployment rate fell to 4.3%, the Bureau of Labor Statistics said Friday in its monthly report.
Economists had forecast 182,000 nonfarm payrolls and a 4.4% unemployment rate, according to a Bloomberg survey.
A broader measure of unemployment that includes people who are working part time but would prefer full-time jobs — the U-6, or underemployment, rate — fell to 8.4%, its lowest level since November 2007.
The share of people who are either working or job hunting relative to everyone in their prime working age — the labor-force participation rate — declined to 62.7% from 62.9%.
Average hourly earnings increased by 0.2% from April and rose by 2.5% year-on-year.
One reason could be that the top-line wage-growth numbers mask progress in stronger industries, he said.
It meets later in June and is expected to raise borrowing costs for the second time this year, confident that wages will eventually pick up amid a shortage of skilled workers.
Retail trade lost 6,100 jobs, and the majority were in large department stores.

Australia Unemployment Rate Slips To 5.5 Percent In May
Unemployment

Australia Unemployment Rate Slips To 5.5 Percent In May

Australia Unemployment Rate Slips To 5.5 Percent In May.
(RTTNews) – The jobless rate in Australia came in at a seasonally adjusted 5.5 percent in May, the Australian Bureau of Statistics said on Thursday.
That beat forecasts for 5.7 percent, which would have been unchanged from the April reading.
The Australian economy added 42,000 jobs to 12,152,600 in May – well above forecasts for 10,000 following the upwardly revised 46,100 added in the previous month (originally 37,400).
Full-time employment increased 52,100 to 8,287,400 and part-time employment decreased 10,100 to 3,865,200.
Unemployment decreased 18,600 to 711,900.
The number of unemployed persons looking for full-time work decreased 23,000 to 489,300 and the number of unemployed persons only looking for part-time work increased 4,400 to 222,700.
The participation rate was 64.9 percent – topping expectations for 64.8 percent, which would have been unchanged.
The labor force underemployment rate decreased 0.1 points to 8.8 percent.
The underutilization rate decreased 0.4 points to 14.4 percent.

Fed Focuses on Job Gains as Economy Sends Mixed Messages — Update
Unemployment

Fed Focuses on Job Gains as Economy Sends Mixed Messages — Update

Fed Focuses on Job Gains as Economy Sends Mixed Messages — Update.
The report showed the unemployment rate ticked down from 4.4% in April largely because of a drop in the number of Americans in the labor force last month.
Fed officials have said they believe the slowdown in inflation in March and April is likely to prove transitory, leaving them on track to raise short-term interest rates at their policy meeting this month to a range between 1% and 1.25%, and pencil in one more rate move this year.
The economy is still adding more than enough jobs to keep up with the growth of the working-age population.
In March, Fed officials projected the unemployment rate would end the year within a range of 4.4% to 4.7%.
Officials at their last meeting on May 2-3 indicated they were prepared to look past a surprise drop in their preferred inflation gauge in March.
Prices rebounded somewhat in April, though prices excluding food and energy slowed to an annual gain of just 1.5%, the lowest since December 2015.
A weaker dollar and stronger labor market could push prices in the other direction. “There are good reasons to expect that inflation will resume its gradual rise,” Fed governor Jerome Powell said in a speech Thursday.
In March, officials estimated that by the end of this year, annual inflation would be 1.9% and the unemployment rate would be 4.5%.

15% of Eurozone Workers Are Unemployed or Underemployed, Says ECB
Unemployment

15% of Eurozone Workers Are Unemployed or Underemployed, Says ECB

FRANKFURT – Around 15% of eurozone workers are unemployed or underemployed, according to the European Central Bank, suggesting wages and inflation in the 19-country bloc are unlikely to pick up for some time.
The new estimate comes amid a tense debate over how quickly the ECB should start reducing its massive monetary stimulus program.
But in a study published Wednesday, the ECB warned that the region’s labor market was far from healed.
While the bloc’s unemployment rate has fallen sharply–to an eight-year low of 9.5% in March–broader measures of unemployment have been slower to decline, the ECB said.
The ECB said that by these measures, around 18% of eurozone workers were unemployed or underemployed. “Labor markets in most euro area countries–with the notable exception of Germany–appear to still be subject to a considerable degree of underutilization,” the ECB said.
Mr. Draghi and top ECB officials have pushed back against German demands for a policy reversal, arguing that a large dose of stimulus is still needed if inflation is to remain on track.
In its report, the ECB said broader measures of unemployment had continued to increase in France and Italy and remained above pre-crisis levels in countries like Spain.
Other major central banks, including the Federal Reserve, also look at broader measures of “slack” when assessing the economy.
In the U.S., the official unemployment rate has fallen to just 4.4%, but the U-6 unemployment rate–which includes discouraged workers and part-time workers who want more hours–is still at 8.6%.

Eurozone’s unemployed/underemployed rate at 15%
Unemployment

Eurozone’s unemployed/underemployed rate at 15%

Eurozone’s unemployed/underemployed rate at 15%.
FRANKFURT–Around 15% of eurozone workers are unemployed or underemployed, according to the European Central Bank, suggesting wages and inflation in the 19-country bloc are unlikely to pick up for some time.
The new estimate comes amid a tense debate over how quickly the ECB should start reducing its massive monetary stimulus program.
But in a study published Wednesday, the ECB warned that the region’s labor market was far from healed.
While the bloc’s unemployment rate has fallen sharply–to an eight-year low of 9.5% in March–broader measures of unemployment have been slower to decline, the ECB said.
The ECB said that by these measures, around 18% of eurozone workers were unemployed or underemployed.
Mr. Draghi and top ECB officials have pushed back against German demands for a policy reversal, arguing that a large dose of stimulus is still needed if inflation is to remain on track.
In its report, the ECB said broader measures of unemployment had continued to increase in France and Italy and remained above pre-crisis levels in countries like Spain.
In the U.S., the official unemployment rate has fallen to just 4.4%, but the U-6 unemployment rate–which includes discouraged workers and part-time workers who want more hours–is still at 8.6%.
That is down from a peak of around 17% in 2010, but still higher than before the financial crisis.

The number of reluctant part-time workers is still higher than before the Great Recession
Unemployment

The number of reluctant part-time workers is still higher than before the Great Recession

Millions of Americans don’t want to work part-time.
The U.S. economy added just 98,000 jobs in March, the smallest gain in nearly a year, after adding more than 200,000 jobs in January and February.
Economists predicted that the number of jobs created in March would hit 180,000, so the actual figures fell far short of that.
On Thursday, Amazon said it will create 30,000 part-time jobs in the U.S. over the next year, nearly double the current number.
There were some 5.6 million involuntary part-time workers in March 2017, little changed from the month before, but down from 6.4 million a year earlier, according to the Bureau of Labor Statistics.
Aside from the frequent lack of sufficient work hours, these part-time workers must also “navigate unpredictable and/or variable hours,” with their work schedules varying week-to-week at a rate more than double that of full-time workers, it added.
Compared to similar full-time workers, men working part-time earn 19% and women working part-time earn 9% per hour.
(The employer mandate requires certain businesses to provide health insurance when their employees work a set amount of hours.)
Approximately 40% of involuntary part-time workers report a total family income of less than $30,000, compared with just 18% of the latter and 29% of the population as a whole, according to an earlier report — “A Tale of Two Workforces: The Benefits and Burdens of Working Part Time” — published in 2015 by Rutgers University.
In 2015, then-Presiden Barack Obama introduced measures to require U.S. companies to pay overtime to millions of salaried workers, but that move was halted by a federal judge last December.