U.S. industry added 242,000 jobs in February—but the major gains were in low-wage industries, and average hourly earnings dropped 3 cents. And unemployment rates remained far higher for minorities than for whites.
Yes, all of the U.S. jobs lost to the Great Recession were recovered by mid-2014. But “we didn’t manage to create enough new jobs to satisfy the shortfall” in positions that would have been made “had the economy kept chugging along at a reasonably normal pace,” writes Suzanne McGee at The Guardian.
Despite 9 million Americans remaining out of work, economists hailed the drop of the U.S. unemployment rate to its lowest level since 2008 on Friday.
President Obama is clearly frustrated that having inherited an economy that was at death's door, he is getting remarkably little credit for getting it back on its feet.
What does the Supreme Court’s McCutcheon decision this week have to do with Friday's jobs report, showing 192,000 new jobs for March?
How can bad news on Main Street (only 113,000 jobs were created in January, on top of a meager 74,000 in December) cause good news on Wall Street?
Transportation and warehouse companies have added jobs, factory employees exceeded 12 million people for the first time in four years, the elderly are seeking work, pay remains stagnant at the bottom, and the long-term unemployed are still screwed.
The 179,000 jobs created in May and boasted about by the Obama administration are no more than "the usual lowly paid non-exportable domestic service jobs -- the jobs of a third world country," former Assistant Treasury Secretary Paul Craig Roberts writes.
Truthdig Editor-in-Chief Robert Scheer and the other "Left, Right & Center" panelists ask, in the context of the new jobs report, whether the U.S. has two economies. Also, Florida GOP Sen. Marco Rubio wants immigration reform and President Obama does also, so what will it take to get it passed?
The U.S. economy appears to have added just enough jobs in April to keep pace with population growth, and the new positions are low wage and mostly nonunion.