Jobs Data

Confirming that I and Peter Morici are right the jobs numbers are telling us that this economy continues to suck for the lowest on the totem pole. Sure, 290,000 people with skills (I'm being generous and assuming that if you work for the US Census you have at least some skills, although I am skeptical) got new employment, but the tens of thousands of others, including kids spilling out of high schools, colleges and vocational schools are not so lucky. Underemployment rose for these folks. The unluckiest are the least skilled. These people are "long term unemployed" and they are doing quite poorly. The economy is nowhere near being able to employ the most marginal worker. Companies are scared enough to avoid hiring even workers that are a fairly good bet. Maybe, just maybe, when companies determine they are better off dumping their healthcare plans and paying the fines, the cost of hiring marginal workers will go down and that'll move the hiring needle. I doubt it, but it is not that outlandish.