69,000 private sector, non-farm jobs were added to the US economy in May, far below the 150,000 expected, which was a weak number in itself considering new weekly jobless claims have been rising exponentially as every previous week’s report is revised up. Also today we find out that April’s number for new jobs created is being revised down by 102,000 from 179,000 to 77,000. So how could these bean counters have been so wrong about this number? It is called juggling your books.
Here at From the Trenches we have been saying all along that this recovery is a fraud, just like the one last year and the year before. Our economy has a cycle. In the Fall we have a harvest which puts people to work and brings in the year’s revenue for our crops. The harvest is followed by the Christmas shopping season wherein our people go out and spend billions of dollars they do not have and go further into debt.
Continue reading “New Employment Numbers – It’s June and the Recovery is Over Again”