There Is No Silver Lining In The Jobs Report

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Written By:
Rob Port

Sep 7, 2012
10:51am

I posted about the jobs report earlier, noting that it was pretty ugly. The Obama White House is in full spin mode on the report, calling it “further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression.”

But more realistic analysts weren’t nearly so optimistic. On NBC, Jim Cramer said there were no silver linings in this jobs report. He noted that the slight decline in the unemployment rate is misleading because the nation is still losing ground on jobs:

The Obama administration is living in fantasy land if they think this jobs report is, in any way, evidence of recovery.