Now Here’s The Bad News From That Good Jobs Report

Dust Bowl Depression

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The headline Non-Farm Payrolls report was strong, but there are some bad things to consider:First, this is old news. April? That was ages ago.

The unemployment rate ticked up to 9% from 8.8%. That’s because the household survey — which had been doing much better than the establishment survey — showed net job loss.

The closely-watched U-6 — so-called real unemployment — jumped to 15.9% from 15.7%.

The average work week stayed flat at 34.3 hours.

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