Posted on 06/03/2016 3:48:28 PM PDT by Olog-hai
U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy’s health and complicating the Federal Reserve’s efforts to raise interest rates.
While unemployment slid from 5 percent to 4.7 percent, the lowest since November 2007, the rate fell for a troubling reason: Nearly a half-million jobless Americans stopped looking for work and so were no longer counted as unemployed.
Employers added just 38,000 jobs in May, the fewest in over five years.
Less-educated workers bore the brunt of the hiring slump, with a quarter-million high school dropouts losing their jobs in May. That has perpetuated a long-term trend toward a two-tiered job market, with college-educated adults more likely to be employed and earning steady raises. …
(Excerpt) Read more at hosted.ap.org ...
It’s time for deep spending cuts and abolitions of local regulations. The socialist regulators and NIMBYs must be shut down to allow workers to produce on their own.
“I read a few weeks ago that 20% of the rail traffic nationwide is down.”
That is a frightening statistic...bodes very bad times here.
They need the funding for SS from the illegals payroll deductions this is money they will not be able to draw out!!!!!
Not the Burger joints!
I’ll Starve!
paint me surprised...NOT!
Fewer people working just means that more people will go on welfare.
phony unemployment number bump
Yes, and those words on the “forbidden list” (McJobs, homeless, foreclosure, etc.) will return to newscasts...
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