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Chris Wysocki
Caldwell, NJ
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Wednesday, 05 August 2015
Oops, again: Private sector adds fewer jobs than expected in July
With Obamunism, it's Expect The Unexpected!
U.S. private employers hired 185,000 workers in July, which was the smallest increase since April and reduced expectations of a strong jobs reading in the government's payrolls report due Friday, according to a payrolls processor on Wednesday.
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 215,000 private jobs in July.
June private payroll gains in June were revised down to 229,000 from an originally reported 237,000 increase, which was the biggest rise since December.
So they lied to us again? The June jobs report was too good to be true, and in fact it wasn't true at all.
Cue my shocked face.
Then we see that their July estimates were also too rosy by far. And going by these, ahem, experts' track record, come September that 185,000 figure will almost certainly be "unexpectedly" revised downward as well.
The Obama "recovery" is one big Potemkin Village.
But then, you already knew that.
Posted at 11:42 by Chris Wysocki
[/economy]
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