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A Boffo Jobs Report,
But Puzzles Linger

The New Yorker, by John Cassidy

Original Article

Posted By:Drive, 7/4/2014 8:47:32 AM

So much for secular stagnation. Thanks to the headline figures and revisions for previous months contained in the Labor Department’s jobs report for June, which was released a day early because of the July 4th holiday, we know that, since the end of March, the economy has generated more than a quarter of a million jobs a month. For June, the payroll figure was 288,000, well above economists’ expectations. During the past three months, the unemployment rate has fallen from 6.7 per cent to 6.1 per cent, and it’s now at its lowest level since Lehman Brothers collapsed in the fall

      


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Reply 1 - Posted by: John c, 7/4/2014 8:50:14 AM     (No. 9910687)

What idiots!

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Reply 2 - Posted by: wetenschapper, 7/4/2014 8:54:09 AM     (No. 9910692)

While indeed the New Yorker can usually be counted upon for the sort of idiocy that mindlessly supports the output of the Obama Ministry of Propaganda, a close reading of the article shows that even the New Yorker is starting to go "hmmmm?" at the administration´s well-cooked labor statistics.

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Reply 3 - Posted by: stablemoney, 7/4/2014 9:17:20 AM     (No. 9910732)

John Kerry used to say Bush should be gotten rid of because job reports were 400,000 a month. But he has flip flopped again, now says 288,000 a good report.

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Reply 4 - Posted by: oldmagnolia, 7/4/2014 10:09:52 AM     (No. 9910811)

Before the November elections - if we have them - the "official" unemployment rate will be 3.5%. You want to bet?


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Reply 5 - Posted by: Philipsonh, 7/4/2014 10:15:53 AM     (No. 9910819)

The vast majority of the jobs are part-time, with few or no benefits. BOFFO? hardly.

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Reply 6 - Posted by: aasilver, 7/4/2014 10:24:37 AM     (No. 9910833)

This ´jobs growth´ can´t even come close to covering the increase in population each year.

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Reply 7 - Posted by: 6079 Smith, W, 7/4/2014 11:06:10 AM     (No. 9910882)

It´s like in ´1984´ when the government proudly announces that the chocolate ration is now ´10 grams per week!´ when it had been 15 grams and was supposed to have gone up to 20.

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Reply 8 - Posted by: horacer, 7/4/2014 11:16:23 AM     (No. 9910895)

These idiots are starting to sound like Pravda. We have severe problems in our labor market. Teens and minorities can´t find work. When you have a large unemployable group of young males in a population you have trouble. A large segment of the population is working part time for stagnant wages. Meanwhile a very small group of elites are getting filthy rich. This gives populist progressives like Elizabeth Warren an opening to exploit. She´d destroy the country.

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Reply 9 - Posted by: Tallgrass Palms, 7/4/2014 11:33:05 AM     (No. 9910923)

If you believe this jobs report or anything this administration tells you, I have a bridge for sale!

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Reply 10 - Posted by: Conradca, 7/5/2014 12:48:44 AM     (No. 9911529)

Lost 500,000 full time jobs and gained 800,000 part time jobs that´s terrible

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