Job market craters in August
It seems like only yesterday that Barack Obama was telling his $35,000-a-plate cronies that the economy was much stronger than everyone thought it was, and he really ought to be taking a victory lap for his "achievements." When that "achievement" is six years of grinding high-unemployment, low-growth malaise and the biggest food-stamp program the world has ever seen, purchased at the cost of very nearly doubling the national debt in a single Presidency, there's nothing to celebrate. And the pretense that a "recovery" is under way ended with today's release of the August unemployment report, as reported by the Associated Press.
On the bright side, much of the highly-touted "gains" of the latest Recovery Summer were in low-paying, part-time, and temporary work, and those areas also make up for a good deal of the lost ground in August, so that's kind of a wash. It's not so much that August was uniquely horrible, as that the past three months weren't nearly as good as advertised. Let's raise the minimum wage and blow that weak entry-level market to smithereens! Then we can have a food stamp program for the ages!Also read:
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