Where The May Jobs Were: Teachers, Waiters, Retail, And Temp Help
by Tyler Durden
ZeroHedge.com
06/05/2015
One of the defining features of jobs “recovery” and the main reason why wage growth has been so far below the Fed’s expectations for years it has prevented wage inflation from appearing despite years of QE, is that the quality of jobs added month after month has disappointing. May was no difference. Yes, the headline print of 280K job additions was great, but a quick look at how the BLS got there shows that nothing has changed because four of the five main job additions were, as usual for the lowest paid jobs.
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