Saturday, June 04, 2016
It must be Friday because we got another lousy jobs report.
It goes like this and another indictment of President Obama's policies:
The U.S. economy created the fewest number of jobs in more than five years in May, hurt by a strike by Verizon workers and a fall in goods producing employment, pointing to labor market weakness that could make it difficult for the Federal Reserve to raise interest rates.
A fall in "goods producing employment"? Can someone speak English please? In my neighborhood they would call it "a lousy business environment"!
And the report also tells us that there is no sign of meaningful wage growth! Did Americans need a report from economists to figure that one out?
The jobs report came about 24 hours after President Obama visited Indiana to celebrate the economy. He whipped up his administration's contributions to the state's recovery but conveniently overlooked some rather important facts: cheap gas promoting recreational vehicle sales and an state run by people who've rejected Obamaeconomics, from high taxes to mindless regulations.
And President Obama missed a big one: Indiana is a right to work state!
It'd be interesting to see how Mrs Clinton reacts to this report. We know how Senator Sanders will react. He will likely say that the new 4.7% unemployment rate is phony. And Mr Trump will probably say that 38,000 new jobs is not huge!
We are also anxious to hear what the Obama White House says about it. My guess is that they will issue a follow up letter on transgender rights and school bathrooms. After all, don't they know best about everything?
Friday June 3: We look at Friday's lousy jobs report.......click to listen: https://t.co/ehRP0KakLt— Silvio Canto, Jr. (@SCantojr) June 3, 2016
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