The unemployment rate went down from 7.6% to 7.5% with 165,000 jobs added to the workforce. However, the labor participation rate stayed flat. It came in at 63.3%, the lowest since 1979.
Now that’s progress, hmm?
Is it a coincidence that a fire shut down the Labor Department headquarters this morning?
Now the administration will turn its attention to the GDP. They have already decided to revise the way the information is gleaned. Anyone want to bet it will be more positive and optimistic?