(Weekly Standard) The unemployment rate ticked-up today to 7.6% total non-farm payroll increased by only 175,000 jobs.
Flashback: Back in January, 2009 Team Obama forecast that the unemployment rate would be just above 5% if Congress passed his economic stimulus bill.
Zero Hedge reports there are job numbers and then there are job numbers in the context of U.S. population that keeps rising–By now the trick of lowering the unemployment rate courtesy of a “collapsing” labor force participation (LFP) rate is known by all…As of May, assuming realistic LFP assumptions the real U3 (official unemployment data) rate should have been not 7.6% but 11.3%
On the 03 May, I wrote here that Americans are realizing a continuing tapering of growth and wages–jobless rate for Millennials is the highest since the Second World War.
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