Some Common Cents for June 10th 2016

June 13, 2016, by John Norris

typeThis morning, the Bureau of Labor Statistics (BLS) released its Employment Situation report for the month of May, 2016. It wasn’t dreadful in absolute terms like those in 2008, 2009, or during the recession at the start of the century. However, I have poured through hundreds of these reports over my career, some more than others, and I can’t remember another one as worthy of the fireplace as this one.

The headline numbers were: 1) the economy added 38K net, new jobs during the month, and; 2) the Unemployment Rate fell to 4.7%, the lowest rate since November 2007. Hmm. That doesn’t sound too bad, does it? Sure, we should be adding more jobs, but, you know, a 4.7% Unemployment Rate? That is pretty good, right? …Read On…