Just days ago, in a report titled, “Grim Jobs Report Is Likely to Delay a Move by the Fed on Rates,” the New York Times wrote of the “unexpectedly dismal job growth last month casting a shadow on the nation’s economy.” The newspaper described Friday’s government report as sending analysts scrambling for adjectives like “dreadful,” “a body blow” and “grim” to describe just how disappointing they found the latest employment figures.
The U.S. Department of Labor oddly boasted that the jobless rate held steady at 5.1 percent in September — despite wage gains stalling, the labor force shrinking and employers creating far fewer positions than they had been averaging in recent months. The latest Employment Summary makes clear that American workers are still failing to take home the kind of monetary rewards normally expected from a recovery that has being going on for more than six years.
If the staggering economy were a patient, it would be on life support.
So why does the USAToday edition — tucked into the anorexic Arizona Republic in an effort to give it heft — report that the Army has hit its target for recruits in 2015, exceeding its goal, because “the improving economy has offered young men and women more job options….”
The obvious takeaway is that the lackluster economy offers few opportunities, lessening employment choices and causing youth, who might have other aspirations, to sign up for the military as they seek a steady income.
There appear to be major discrepancies in economic analysis among the sources. Then again, does anyone actually put any faith in the rosier numbers coming out of the Obama administration with Thomas Perez — the exceedingly left-wing and political former Assistant Attorney General in Obama’s DOJ — now in the position of Secretary of Labor? Here is Perez announcing his intention to sue Maricopa County Sheriff Joe Arpaio, in a May 2012 news clip.