From Charles Hugh Smith:
The Ministry of Propaganda and its media minions are announcing that "job growth is on a tear" and the "best growth since 2006." How about we look under the hood of the employment euphoria? Here is an example of the Ministry's work: Best U.S. employment growth in 12 years – Almost all the data agree – labor market's on a tear.
Over the past six months, the number of people who are employed has risen by 2.3 million – an average of 385,000 per month. That's the best growth since early 2000, when the dot-com bubble was in full flower. Since August, the unemployment rate has fallen by 0.8 of a percentage points, to 8.3%. For adults over 25, the jobless rate has fallen to 7%.
In other words, people who generally work full time so they don't have to share a bunk in a flop house or live in their parents' basement are almost fully employed, as "full employment" typically generates an unemployment rate of 5% just due to churn.
Best since 2000. Oh really? Let's look at the data as presented by the St. Louis Federal Reserve...
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More on jobs:
Shocking post uncovers a huge New York Times flip-flop
These facts show the U.S. gov't is actively making unemployment worse
Mind-blowing chart shows the government could be responsible for high unemployment