Just What We Needed: More Bad Employment News

Justifying my decision to look askance at the latest jobs report, we have this story, which informs us that “total employment has declined by half a million,” and that the economy is not keeping up with population growth. Again, let me state that the Federal Reserve has to continue bond purchases and any other forms of monetary stimulus, as we are very clearly not out of the woods, and as we need to guard against the continuing ill effects of slow economic growth.

Let’s stop pretending that bad jobs reports are actually good jobs reports. That doesn’t help anyone.