Saturday, October 4, 2014

Uncovering the Truth Hidden in the September Jobs Data

-Ron Paul
he September job report was met with glee by Wall Street. 248,000 increase in payroll is further evidence that printing a lot of money and increasing the national debt is still an acceptable practice for running an economy by a bunch of central economic planners, especially the Fed.

Real wages for those employed still show no signs of growth. The quality of the new jobs is still suspect with four out of five new jobs earning low or minimum wages. True economic growth is not readily apparent. It’s nice that the unemployment rate is below six percent and is at a six-year low. According to government statistics, that is.