Today’s employment numbers reminded me I needed to check on the Bureau Of Labor Statics so I could provide a first person report not typically available in the news media.
Many will remember that when the January job loss report came out, most news media organizations trumpeted the fact that is was the most jobs lost in a single month since 1974. True in an absolute sense, but as a percentage of the total workforce, wildly misleading. A comparable percentage loss would have required over 1,000,000 jobs lost.
Today’s jobs report was heralded as good news, because the job losses were slowing. The Bush era headline would have been “Most Unemployed Ever Recorded” Actually that headline is a few months late as the record was surpassed in February of this year. We’ve lost 2 million more jobs since then.
Another historic first for our President.