The Lehmann
Letter (SM)
What can you
say when you’ve already said so much?
We need
250,000 more jobs a month – month after month, year after year – to drive down
the unemployment rate. It’s just not happening.
And today’s employment
report from the Bureau of Labor Statistics did nothing to change that
assessment.
The report
begins:
“Nonfarm payroll employment continued to edge up in June
(+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S.
Bureau of Labor Statistics reported today….”
The second
number can’t head south until the first number goes north.
(To be fully informed visit http://www.beyourowneconomist.com/)
© 2012
Michael B. Lehmann
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