For the past few years we were told job creation under 150,000 was terrible and how the numbers will adjust lower during the month. Or better yet when the unemployment % was released how it didn’t reflect those that dropped out of the job market. Yet now, it’s cupcakes and balloons while those numbers are now cheered – PB/TK
Why are analysts crowing about our crummy job market? – By Lucas Jackson / June 5 2017
Friday’s jobs report landed with a splat. The economy created 138,000 jobs in May, which is pretty meager. And if you compare job creation over the past year to the last six months and then three months, you see a clear deceleration.
But a bunch of mainstream economic analysts think this is actually good news: The unemployment rate fell to 4.3 percent, which suggests the economy is simply running out of people to employ. In that case, rates of job creation should naturally fall too. It’s a sign we’ve accomplished what we set out to do — recover from the Great Recession and put America back to work.
“With the unemployment rate dropping to 4.3 percent, it really can’t get much better,” Brian Kropp, the HR practice leader at the consulting firm CEB, told The New York Times. Federal Reserve officials seem to be thinking the same thing and look poised to hike interest rates again in June.
So the “good news” interpretation of Friday’s report is pretty widespread among people who matter.
It’s also obviously wrong.
Continue to theweek.com article: http://theweek.com/articles/703032/why-are-analysts-crowing-about-crummy-job-market
