Friday, July 02, 2004

Well, That Sucks 112,000 new jobs last month -- and undoubtedly a healthy percentage are crappy jobs of low pay and minimal or non-existent benefits. 140,000 less than predicted, forty-thousand less than needed to keep up with population growth, and 180,000 less than promised when we gave tax cuts to the rich. Oh, and there is more:
Jobs were also revised down slightly in May and April. The unemployment rate held steady at 5.6 percent. Other parts of the survey were also soft, with aggregate hours worked falling a steep 0.6 percent and hourly earnings rising only 0.1 percent, countering fears that rising wages might fuel inflation..
Fantastic George, just fantastic. Oh, McFlightsuit and the Freeper brigade will try to spin this as another month of positive growth, but that is a pyrrhic claim and they know it.
Weblog Commenting and Trackback by