The ‘recovery’ that wasn’t

Good economic news last week:

  1. The economy added the most waiter/waitress and bartending jobs since 2013.
  2. The unemployment rate dropped to 5.5%.

Bad economic news last week:

  1. More than half the jobs added were low-paying (see #1 above).
  2. The U.S. trade deficit was worse than expected.  This is really bad, as people in other countries aren’t buying American-made goods.  And neither are Americans.
  3. The number of Americans who are “not in the labor force” rose to the highest level ever.  Remember, these are people who have given up looking for a job and are thus no longer counted as unemployed.  This explains #2 above.

Hmm.  I guess there really wasn’t any good economic news last week.

Dammit.  Guess we’re just gonna have to rock the blues away.

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Categories: All is well!!!, Bad News Everyone!, Economic Schizophrenia, Good News Everyone!, Government Statistics, Liars, Propaganda, Winter is coming

Tags: , , , , ,

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