Story thread · 2 reports / 2 sources

Trump's chilling economic threat proves he has no clue

alternet.org · 9dShare

The Labor Department reported this morning that the United States added 162,000 jobs in August. That’s more than expected, especially given how few jobs the country has added over the last few months. But I want to let you in on a little secret (which shouldn’t be secret): Monthly jobs reports are now barely worth the paper they’re printed on, because the Bureau of Labor Statistics has so little experience dealing with a labor market suddenly depleted by Trump’s mass deportations and the almost-as-sudden retirement of the giant boomer generation. In other words, much of what the BLS is now trying to do relies on pure guesswork. But there are three real reasons to be concerned: 1. Wages. Prices continue to rise faster than wages — which means most Americans are getting poorer. Average hourly earnings rose by just 10 cents, or 0.3 percent, for the month. That brings the year-to-year increase in hourly earnings to 3.1 percent. But prices have risen 3.4 percent over the year. Ergo: Most ho

First report: A dirty little secret betrays a supposedly rosy report for Trump — rawstory.com, 10d