Past job reports were also revised down as they usually are.
"This is just the ammunition that Janet Yellen and the Fed need to possibly extend Quantitative Easing and their Zero Interest Rate Policy. "I don't know. Jobs were created.
The cold didn't trash the winter economy. Government did.
"Recently, however, the Commerce Department reported that the US economy actually contracted 2.9 percent in the first quarter of 2014. This was the Department’s third attempt at revising its figures, with previous reports estimating first 0.1 percent growth and then a 1.0 percent contraction."But the lies has moved on.
"While this little statistical “revision” was inconvenient, it was quickly followed (in true Orwellian fashion) by a slew of reports confirming that the economy has already rebounded and the second quarter will be even better than previously anticipated. (According to an advanced estimate released last week by the Bureau of Economic Analysis, GDP increased 4.0 percent in the second quarter and the first quarter’s numbers were revised yet again.) "After the latest revisions, we know that was a lie too.
"In addition, every winter there is always an uptick in travel as people escape the bitter cold, which raises revenues for the airline and tourism industries. Meanwhile, some travel destinations actually embrace winter’s cold. In fact, this past season, most ski resorts in the United States opened earlier and had their best season in years. (Predictably, this summer’s unseasonably cool temperatures are being blamed for dismal attendance at pools and resorts across the country.) "Like in Huber Heights.
Record number of Americans not working.
"A record 92,269,000 Americans 16 and older did not participate in the labor force in August, as the labor force participation rate matched a 36-year low of 62.8 percent, according to the Bureau of Labor Statistics."Ouch.
The Fed reports the growth of inequality pretty corresponds to the Obama presidency, but Obama claims to want to reverse it.
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