Lost amidst all the triumphal “bad jobs report” noise is the fact that private-sector employment is increasing, with solid gains in manufacturing and construction jobs. This is consistent with the point I keep hammering in recent articles at The American Spectator, discussing how there is an explosion of industrial construction going on right now in the U.S.
This headline from Bloomberg was typical, but at least it did note that concurrent with lost jobs, the unemployment rate actually fell: “U.S. Employers Unexpectedly Shed Jobs; Unemployment Rate Falls”
Yes, “labor force participation” by non-citizens decreased. But the unemployment rate keeps falling as actual U.S. citizens gain employment. Buried in this Bloomberg piece is another interesting number:
So to be clear, private-sector employers are not actually shedding jobs, it’s government that is shedding jobs. As reported by NBC, the Bureau of Labor Statistics ”showed a 5,000 payroll gain in the manufacturing sector in July and an additional 22,000 roles in construction.”
This CNBC piece further explains that ”The main reason for the red headline number was a loss of 53,000 government workers.”
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Snake ·
