"Job growth" shouldn't include jobs that were lost due to dem lockdown policies that have or are being filled again.
From the report:
Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate
edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Job
growth was widespread, led by gains in leisure and hospitality, professional and
business services, and health care. Both total nonfarm employment and the unemployment
rate have returned to their February 2020 pre-pandemic levels.
Because I am interested in actual facts, not political interpretations of government data, here is what these stats mean:
- Gig work, which is what people do when they are not employed in a salaried position, is definitely on the increase;
- "Leisure and hospitality" means exactly what you think it means;
- Healthcare is more likely to mean hourly-paid butt-wipers and floor-sweepers rather than, say, LPNs or neurosurgeons
It's great that jobs are back after the pandemic that Democrats are still trying to foist upon us, but job gains of late are exactly of the variety that
liberals claim are not even good jobs.
The only silver lining, other than having marginally more people employed to clean hotel rooms, is that a lot of people who doggedly sucked at the Covid-money teat
have realized that they must rejoin the economy.
Meanwhile the real (eg, shadowstats) unemployment rate is still about 25%, and for you lurking DUmmies, that includes in the numerator people like YOU, who, despite your laziness and lack of job skills, are included.
Also note that you cannot have this both ways, so in exchange for these "sterling" employment numbers, you will get another 50-75bps increase in the prime rate.