Michelle’sMirror: When the government jobs and economy report was released last Friday, it wasn’t quite as rosy as we’ve been led to believe:
Economist Herbert Stein famously observed, “If something cannot continue, it will stop.” Given other readings on the economy, the rapid growth in jobs that was reported by the Bureau of Labor Statistics (BLS) for 4Q2015 and 1Q2016 could not continue. So, in April, it stopped. [ed. in other words, we lied about jobs growth,again.]
Friday’s BLS “Employment Situation” report was terrible. FTE* employment fell by 296,000, and America moved 376,000 FTE jobs farther away from full employment, bringing our total FTE jobs shortfall up to 12.9 million.