Blatent Lying on Jobs Report Today
I don't have time to tear the numbers apart, however, I'm sure Mauldin one of his guys will, so take a look at his site: http://investorsinsight.com/
In short, there is no way that "discouraged" workers dropped. Last month they- yes, freaking "they" again- said that the workforce shrunk by 2 million people. Come on, that's not even a good lie.
I have clients who own businesses all over southeastern Wisconsin and greater Phoenix, NONE, not one, nada, are hiring right now (which might speak to the fact that virtually all of my clients are manufacturers, contractors and installers of some sort). Most are on shortened work weeks.
Until we decide to rebuild the power grid and transportation system, and add water recycling facilities, we are not going to see nearly the growth we need to get employment growing.
There are about 2 million construction workers and another 3-4 million skilled trades people out of work, they need to be employed first as that will create some money velocity to employ the paper pushers and service providers.
The President also must push retraining of the workforce with some sort of very public and effective program, as we have way too many unskilled people who fall into the paper pusher/service provider cats.
Folks, gov'ment is still being stupid. Write your Congress people and tell them to rebuild the infrastructure and include a few nuclear power plants, that is probably the only thing that saves u.s.