Joe Leandri
Independent Market Research Professional
What that bad job report really means | Washington Post | 06.03.2016
The jobs report shows the good news was bad and the bad news was worse.
Consider this:
- The unemployment rate ticked down from 5.0 to 4.7 percent for the rotten reason that there are almost half a million fewer people looking for work;
- the economy added 38,000 jobs in May when it was expected to add 155,000;
- it turned out that 59,000 fewer jobs were created in March and April than we had previously thought;
- and 468,000 more people who wanted full-time jobs could find only part-time work.
- The jobs report has a margin of error of 100,000 jobs.
And it doesn’t get a lot less so even if you take a longer view of things. Indeed, the economy has gone from adding a three-month average of 282,000 jobs a month at the end of last year to just 116,000 today.
