Kash at Angry Bear dives into the poor job numbers released today and finds: more bad news. Key quote: “The most disappointing part about the US economy’s poor job creation right now is that we may well be pretty much at the peak of economic growth for this business cycle.” So what do we do once the economy starts to slow over the next two years? Clearly it’s time for more tax cuts.
…one other note. The newspapers, while rightly dour, are noting that the employment number bounced up to 5.2 percent, down from 5.7 percent a year ago. That’s true, but the employment-to-population ratio, which also counts up all those people too discouraged from even looking for work, is only at 62.4 percent. That’s only slightly up from a year ago (62.2 percent) and far lower than the 64.7 percent in 2000. Oh, and wages keep declining.
Update: On the other hand, not everyone’s faring so poorly…
