President Obama (and, presumably, Hillary Clinton and Bernie Sanders) have new job figures to crow about.
An estimated 215,000 new jobs were created! Isn’t that great?
Here’s the part Mr. Obama, Ms. Clinton and Mr. Sanders will not be telling you about: 29,000 manufacturing jobs were lost….and 25,000 waiting and bartending jobs were gained, putting that category at another all-time high.
And in case you think this was just a one-month quirk, take a look at this chart which (along with most of the other material I’m blogging about, I pulled from Tyler Durden’s piece at zerohedge.com:
What we see is that this month, in keeping with so many other months during the Obama era, yes there has been job creation – but the job mix continues to change from good paying, full-time jobs to lower-end, lower-wage, part time ones.
When President Obama said he would “transform America”, do you think this is what he had in mind? I sure as eff know it wasn’t what most of us had in mind.