Six and a half million Americans looking for work and only eighty thousand found a job last month. Is this the recovery our incredible shrinking President keeps bragging about? Is this what he means when he says the private sector “is doing fine”? Actually, I think this is what he meant by “fundamentally transforming America”.
Sobering, too, is that the WSJ is reporting that 189,000 people entered the labor force last month as well . . .
To be fair the 80K includes churn. Every month 400-500K people are hired and a similar amount are fired. This past month the amount hired were 80K higher than the amount fired.