The civilian adult employment-to-population ratio remains at 58.4%: we have no labor-market recovery.
It has reached the point where I have to say the the Republican Party is in denial. In Maine Republicans hold the Governor's office and both houses. They just voted down a 50 cent (over two years) raise in the minimum wage of $7.50/hour and voted for an increase in the deductible for the estate tax from $1 million to $5 million. (Trickle-down theory says the rich will invest here if they can leave their money to their kids.) To me it is an allergy to raising revenue, and to putting money in workers' hands - so they can buy more things.
On today's bad news - from economist Brad DeLonge:
Can We Haz QE III Now, Pleeze? - Grasping Reality with Both Hands: "Greg Robb:
May jobs growth slows to 54,000, a nine-month low: In disappointing news for the White House, Wall Street and Main Street, U.S. job gains slowed to a crawl in May and the unemployment rate moved higher, the Labor Department estimated Friday. Nonfarm payrolls rose by a seasonally adjusted 54,000 in May. This is the smallest gain since September and a fraction of the 125,000 jobs expected by economists polled by MarketWatch...The civilian adult employment-to-population ratio remains at 58.4%: we have no labor-market recovery."
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