I see the job numbers this morning claiming 288K jobs added. Sounds great, doesn’t it!? Now we get to hear from the liberals as they brag about their president.
So I take a dive into the numbers… and guys, the numbers suck.
In May, we had 118,727 full-time jobs.
In June, that number dropped over 500K — to 118,204.
Staggering…
In May, there were 27,219 part-time jobs.
In June, the number jumped to 28,018 — almost 800K part-time jobs.
No wonder we had a 2.9% contraction in GDP.
I am adding this so you can see for yourselves.
Table A-9. Selected employment indicators
As we reported previously, and as hardly anyone else will discuss, in June the composition of added jobs was rather abysmal: according to the Household survey, while over half a million full-time jobs were lost, this was offset by less paying, benefits-free part-time jobs rising by 799K, the most since 1993. So what does that mean for the job quality as reported by the Establishment Survey. Let’s dive in.
Of the 288K jobs added in June, here were some of the biggest contributors:
Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Temp Help Service: 13.1K
What about the well-paying jobs? Well, here they are:
Professional business services: 53.9K
Financial Services: 17K
Manufacturing: 16K
Information: 9K
Construction: 6K
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Anyone take a close look at today’s job numbers? 288K jobs added… look inside for the details. They suck. | InvestmentWatch
and as one of my favorite reporters used to say.....Paul Harvey
"now you know the rest of the story"