Investors Business Daily posted an article today on the latest jobs numbers.
The article reports:
Although somewhat better than expected, the 175,000 net jobs created in May continues the historically tepid jobs growth trend that has come to characterize the now four-year-old economic recovery.
The result has been continued high unemployment, a vast pool of long-term jobless, and an unprecedented number of people who’ve dropped out of the labor force.
The article reminds us that there are 2.4 million fewer people working than there were in January 2008. The Democrats have attempted to blame the slow job growth on sequestration, but that doesn’t make sense. Sequestration did not go into effect until March, and sequestration cut the rate of growth–it did not cut the budget.
The article also points out:
…the total number of government jobs climbed more than 7,000 since January (not including U.S. Postal Service jobs, which get included in government statistics even though the USPS is independently run).