[lbo-talk] jobs

[Doug Henwood]

This morning's U.S. employment report showed a gain of 1,000 jobs in 
December, which sucks. Earlier estimates for October and November job 
growth were also marked down. Hourly earnings continued to be weak. 
The unemployment rate fell, but mainly because people seem to have 
dropped out of the labor force. I haven't torn apart the numbers yet, 
but on first glance, if there's any hidden strength below the 
headlines, it's very well hidden. December was the 25th month of an 
alleged recovery, but not for the U.S. working class.

Doug