May jobs report
The May jobs report was supposed to be all happy and sunny, with Obama as the fearless knight on the galloping steed of economic recovery, and "Julia" riding a unicorn that farts rainbows.
The private sector gained 89,000 jobs, the government sector lost 13,000 jobs, and unemployment rose to 8.2%. I'm staring at the horizon, and there's not a steed or unicorn in sight. Economists may have predicted something different, but this result is precisely what I expected.
There isn't a lot of optimism out there in Small Business Land. It's poignantly absent in Corporate Megalopolis as well. Everyone, from executives to janitors, is feeling bleak. Even the salespeople, fueled by expense accounts and single-malt Scotch, are less cheerful than usual. When THAT happens, the apocalypse is surely nigh. A couple of months of moderately positive jobs reports were supposed to cure the economic doldrums, but it didn't happen.
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