The Latest Jobs Numbers Seem Impressive—Until You Look Closer
The latest Labor Department employment report shows the economy added 315,000 jobs in August, ordinarily a healthy increase and sign of a robust economy. Sadly, the devil is in the details, which shows that the labor market is running on fumes. The report, like the economy as a whole, looks good from afar but is far from good. The first red flag in the report was revisions to the previous two months, which totaled 107,000 to the downside. So about a third of the jobs added in August were jobs we thought the economy already had.
Source: heritage.org
