The job market in April and May was so underwhelming, they had to revise the numbers down faster than a politician dodging a question about their tax returns. The initial reports were like a bad magic trick: "Now you see 165,000 jobs...poof, only 108,000 remain!" May wasn't much better, with the initial 272,000 jobs vanishing into thin air, leaving us with a measly 218,000.
But wait, it gets better! Those revisions mean that the combined job growth for April and May was 111,000 jobs lower than initially reported. That's like finding out your lottery winnings were actually just a coupon for a free small fry.
And here's the kicker: 70,000 of those jobs were government gigs, paid for by the good ol' American taxpayer. You know, the same people who are constantly told that the job market and economy are as strong as a bull on steroids. But hey, who needs real jobs when you can just create a bunch of government positions and pretend everything is peachy?
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Head of Design Department | Interior Design Project Management
4moOn Another note, after having a closer look at this, if the Education and Healthcare sector is the largest contributor to the labor market, that just tells you a lot about the state of health the US is in! That's not good!