"The more you drill down into the November jobs report, the worse it looks. On the surface, not so bad.
Nonfarm employment increased by 146,000 jobs last month, beating expectations of around 93,000. What’s more, the jobless rate fell to 7.7%, the lowest since December 2008, versus expectations of 7.9%.
And the broader U-6 rate — taking into account some discouraged workers and the underemployed — fell to 14.4% from 14.6%.
Private sector jobs rose by 147,000."
Here is the bottom line:
First, we are not creating enough jobs.
Second, we do not have enough growth.
Third, we are lowering the unemployment by shrinking the labor force.
Overall, it is not a good report.
We spent an entire segment on Fridays show talking about Obama-Care and all of the "surprises" in the new law. We remind that the Obama administration is still writing the rules almost two years after it passed Congress.
Click here for more about ObamaCare and Friday's show with Dr Ileana Johnson-Paugh:
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