Posted on 06/03/2016 1:06:31 PM PDT by Sean_Anthony
Only 38,000 new jobs is rancidly awful - the worst in nearly six years.
I guess you could be a sunny-side-up kind of guy. If it’s the worst in six years, then everything for the past six years was better. Hurray!
Or you could understand how it really is: Despite the very misleading U3 unemployment rate that owes its gloss to the lowest labor participation rate since 1978, the economy has not been creating new jobs to any serious degree since the 2008 mortgage market meltdown. Any month when we do under 200,000 is a net loss because that’s the mere replacement rate necessary to keep up with population growth. So when Obama talks about “10 million new jobs created,” it sounds like a lot. But it’s not. Over the course of his administration, that represents one of the worst long-term averages in the nation’s history - even before you account for the relative size of the population today.
More lies the drive-bys told me.
Recession now on the horizon.
Full time workers, -59,000
Part time workers, +139,000
Multiple job holders, +1000
Saw Laura Ingram on the panel of Bret Baer’s program.
She said that 10,000 of the 28,000 were government jobs.
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