Posted on 06/11/2016 12:59:46 PM PDT by orchestra
Had a sinking feeling about the economy of late? It may not be your imagination. Economic indicators have flashed yellow for much of 2016, and the latest jobs report shows further depletion of the work force and a dearth of job creation. That trend, says one major bank, may be attributable to President Barack Obama’s signature legislation.
Last Friday, the Bureau of Labor Statistics (BLS) released the worst jobs report in almost six years. The US economy only added 38,000 jobs, less than a tenth of the estimated 458,000 Americans who left the workforce. In fact, thanks to revisions made to the March and April reports, that exceeds the number of jobs created in the past three months (348,000) by more than 100,000. The workforce participation rate dropped back to 62.6 percent, near a 40-year low, and more than three full points below its level at the start of the recovery in June 2009 (65.7 percent).
To call this a wide miss is an understatement. Economists had predicted a moderate jobs gain, with Reuters forecast. The unemployment rate dropped to 4.7 percent, but analysts widely noted that this was a result of the large exodus from the workforce. That included an increase of 130,000 among those who have left the workforce but still desire employment, outnumbering the jobs added in May.
The news on jobs might possibly be worse than even this indicates. An economist at Johns Hopkins called into question the seasonal adjustment calculations used by the BLS. Jonathan Wright recalculated the data and concluded that the economy had lost 4,000 jobs.
(Excerpt) Read more at zerohedge.com ...
I think Hillary is going to jump on this and get rid of the minimum hours and the 50 employee bit and revert back to the 100 employee bit.
Blame goes to Zero and all the RATs in Congress and then the gutless GOPees.
The demoCRAPS even know how bad it has been for the country.
You hit the nail on the head...’spineless sissies’ in ‘sewer city’ couldn’t find their spine if it was in a wet paper bag!!!
It’s long past time to blame this phony halfrican for everything evil that’s befallen this country.
It’s long past time to blame this phony halfrican for everything evil that’s befallen this country.
All part of the plan to destroy the US, but no one makes an attempt to remove BHO. The country must learn to accept the misery that comes with having him in the WH.
Yeah, we know he should have been impeached long ago. We also know who to blame!
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