I haven’t had an opportunity to talk about the fact that the “War on Poverty” has just turned 50. Instead, I’d like to spend some time talking about the economy. Towards the end of this post I will talk about unemployment benefits. Today we got the much-anticipated jobs numbers. Sometimes the jobs numbers are little hard to digest. This month, according to the Bureau of Labor Statistics, the economy added 74,000 jobs. If you think that number is somewhat low, you are in excellent company. The unemployment rate dipped to 6.7%. I don’t believe any of it. This number (74,000 jobs) is a three-year low. Last month, the month that should’ve been hit extremely hard by the government shutdown, the economy added 241,000 jobs. I’m not sure about that number either.
I have been following the labor statistics fairly closely for nearly a decade. There seems to always be one or two numbers that come out either extremely high or extremely low that are revised over the coming months. All of the economic indicators that we’ve seen over the last two or three months seem to show that the economy is continuing to pick up steam.