The news on the jobs front was good, the headlines said on July 5. The headlines lied.
The gains were mostly part-time jobs. Full-time jobs are in free-fall. Why? ObamaCare.
Why hire a full-time worker when you can hire a part-time worker who will not qualify for ObamaCare?
An article on the Zero Hedge site explained. Part-time jobs in June rose by 360,000. Full-time jobs shrank by 240,000. Net gain: 120,000. Mediocre.
This chart tells the story.
The economy is barely recovering. Yet the Federal Reserve has to print $85 billion a month to stimulate even this lackluster recovery. That’s a trillion dollars a year.