My, my, my… whatever happened to myBush Boom?
The Labor Department is forecast to report Dec. 7 that employers added 70,000 workers last month, down from 166,000 the previous month, according to a separate survey of economists. The unemployment rate is expected to increase to 4.8 percent from 4.7 percent.
Only 70,000 new jobs? Since our economy must generate 150,000 new jobs each month just to keep pace with growth in the labor force, consider a 70k gain to be a net loss of 80k jobs.