The Bureau of Labor Statistics announced the updated employment situation results on Friday, and what appears to be very positive at first sight (and based on the headlines) actually might not be as good as it seems.
For those wondering about the true strength of the US economy, look no further than Americans' post-"retirement" plans revealed in the latest Gallup survey, according to why only 25% of Americans plan to stop working past retirement age. Meanwhile, nearly two in three employed U.S. adults, or 63%, responded they plan to work past retirement age on a part-time basis, while an additional 11% said they will work full time once they hit retirement age.
Submitted by Nicholas Colas of Convergex
April Was Cruel… To the US Tre
Authored by Chris Rossini via The Mises Institute,
Ever since the US government began to sink its claws into the medical industry a good 50 or so years ago, attempts at reducing costs have failed again and again. This is par for the course whenever government invades an industry.
Trying to reform this Frankenstein with either Obamacare, or Trumpcare, will solve nothing.
The problem is structural. Tinkering with this or that will just waste more time.
Well, the Fed said the recent disappointing economic data would be "transitory" and based on the just released jobs report, it may have been somewhat right, because after growing only by a revised 79,000 jobs in March, payrolls rebounded in April, rising by more than the expected 190K to 211K, in line with the optimistic whisper estimates. The not so great news: March payrolls were revised materially lower, and denying expectations of a solid upward revision, March payrolls were said to rise by only 79K, below the 98K initially reported.