More people found new jobs last month than were expected. However, the average hourly earnings dropped and the average hours worked also dropped, meaning that more and more Americans continue to be underemployed. And it turns out that Under Employed is a show on MTV and they all look befittingly unhappy. (I have never seen the show so don’t judge me.) The White House is continuing to call the labor market “robust” because the Unemployment Rate is still at 4.9%. Though I track statistics every day, I have learned that they are not all completely accurate. For example, when I lived in Nicaragua, the published unemployment rate was 95%. Everybody still went to work every day, they were just paid under the table so they weren’t included in the government statistics.
Interest rates are starting to trend upward.