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We'll steady unemployment rate of seven point 6% masking what's becoming a potentially dangerous economic trend in this country.
Among the jobs added in June many are part time.
At this point only 47%.
Of Americans have full time jobs listed in new norm for America's job market Peter -- C is an economics professor.
At the University of Maryland and he joins us from our Washington bureau.
Peter 47% of the population with full time jobs that seems like a disaster give us some perspective is it.
Well it certainly is a disaster Americans aren't finding meaningful work and with Obama care what's happening.
Because employers are concerned that eighteen months from now they're going to have to provide very expensive health benefits.
To full time employees that technique for every two jobs are essentially splitting -- to three and finding people to work 2829.
Hours a week.
And so that more typical American these days is out there looking -- two part time jobs and -- very little security so and.
In other words employers are finding it just too expensive to hire full time workers is this exactly.
What the opponents of Obama -- predicted during the debate before that bill became -- law.
Absolutely if you require employers to provide a massive health care program -- very very high standards of coverage.
It to everyone this simply not going to be able to afford it and they're gonna find some way.
One way or another not to have either fifty full time employees.
What I have as you full time employees as they can so it's the paid benefits only their managers and in a very high ranking people.
So here's the part that I can't get past 47%.
Of the population.
Works full time that means.
The other 53% is being supported by that 47%.
That's not a good ratio.
Absolutely -- but look what's happening with young people like my graduates my -- so many of them.
Are getting into these part time jobs and some of them not very meaningful you know you gotta keep I would -- masters degree working.
-- at Starbucks saved lives what -- parents.
He's OK as long as his parents continue working a lot of folks my age are putting off retirement and those -- good jobs and savings.
Simply to support their children into their twenties.
Eventually we won't be able to do that what's gonna happen to these young people in all they're big still blogs the -- very bad things.
Sell the debt load that your average young person is caring.
Grows even as his earning potential -- that -- absolutely the president has been buying lower unemployment rates.
By essentially providing very cheap student loans and keeping people out of the labor market.
Right when they finally answer they answer -- very low wages in part time employment.
We have the kind of problem Spain hats but the president has been papering it over exactly.
So cheap student loans keep young people out of labor market this is a dangerous -- Peter that's.
-- really lucid explanation of a very troubling trend we appreciate it thanks a lot.
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