The key thing to realise about today’s good jobs report is that it was only good relative to expectations. Private sector job creation of 67,000 is not that impressive in any real sense.
And indeed, the latest update of the scariest jobs chart ever from Calculated Risk — which shows how deep these jobs losses are compared to past recessions — shows this comeback still isn’t anything like past comebacks, and it will be ages before we get back to even.
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