The new jobs numbers are in, and, bluntly, even the slightest glance at the figures shows that they literally don’t add up. What the hell?
The Bush administration is touting 248,000 jobs added in May. However, the jobless rate remains unchanged, at about 5.6%. New records were set in May for the number of people remaining unemployed for over a year. The average number of hours put in by working Americans is now 33.5 – not a fulltime paycheck. The number of jobless African-Americans rose from 9.7% to just under 10% in April, while the number of jobless Whites *ALSO* rose from 4.9% to 5.0%. The rate of teen joblessness rose from 16.9% to 17.2%. The only gains were for women and Hispanics (0.2% for both groups)–which is more than offset by the losses. How does this work, again?