The Ugly Truth About the US Economy

For many months I have been warning my readers that the actual employment picture in the US is much weaker than the data has been suggesting.  Today, we finally got the confirmation that I have been awaiting when the Bureau of Labor Statistics revised down by 818,000 the number of jobs the US economy added for the twelve months as of March 2024.  This in and of itself portrays a story about the strength of the US economy that is very different from the one the authorities were touting, but it is only part of the picture.  In fact, the supermajority of the jobs that have been created have been part-time jobs, with full-time jobs faring much worse than the authorities would like us to believe.