My apologies for not posting yesterday, I was too busy with a huge story, which I will post here in a few hours.
But Friday The Labor Department brought out a shocking (not to me) jobs number.
The US created an anemic 38,ooo jobs in May and reduced the number of jobs created in March and April by 58,ooo.
But those press conferences in March and April talking about the jobs recovery are over so no one will notice that the gains were fictitious.
To show that the Obama Administration has no shame, while saying just 38K jobs were created in May, the household survey said the unemployment rate fell to 4.7% down from the 5% level of the last two months.
The primary reason for this mysterious drop in the unemployment rate was that the labor force participation rate decreased to 62.6%, from 62.8% in April.
As a result, in May 7.4 million Americans were unemployed, down from 7.9 million in April.
Meaning that a half a million Americans just gave up. They are no longer considered looking for work.
Keep this up and we’ll have 0% unemployment rate, by the election.