Two-thirds of the way down the MSNBC.com front page is this headline: Payrolls grew by tepid 121,000 in June.
Here’s the story:
U.S. payrolls grew by tepid 121,000 in June
Report suggests companies are reluctant to bulk up their workforces
WASHINGTON – Employers boosted payrolls by a tepid 121,000 in June — an improvement from the previous month but new evidence that companies are reluctant to bulk up their work forces in the face of high energy prices and slowing economic growth. Wages rose sharply.
Oh, yeah. “Wages rose sharply”, too.
Last year’s June jobs growth was 166,000, but the previous five Junes showed a job growth of 55,000. Combined. And that included a 43,000 loss in 2000 for all those who like to pretend that things were just fine until W took over.
I think we can live with this “tepid” job growth.