This article appeared online at TheNewAmerican.com on Friday, April 1, 2016:
From a distance the jobs report issued on Friday by the Bureau of Labor Statistics (BLS) looked pretty good: 215,000 new jobs were created by the economy in March while earnings, year-over-year, increased by 2.3 percent. The average hours worked remained stable, and the labor force participation rate rose off its recent record lows.
The numbers came from two sources: payroll numbers provided by businesses directly to the Labor Department, and household numbers provided by phone-call surveys.
In looking at the numbers, Ward McCarthy, chief financial economist at Jefferies LLC, a massive global investment firm headquartered in New York City, said that “we continue to generate a lot of jobs” without asking what kind. A closer look reveals