The Jobs report was released today indicating another month of job gains and a strong economy (maybe).
Highlights of the job report:
August job situation was revised from -4,000 to plus 89,000 for a net improvement of 93,000. One must wonder!
- Construction slashed 18,000 jobs
- Factories slashed 14,000 jobs
- Retailers lost 5,000Â·
- Financial services lost 14,000
The losses above were offset by gains in
- Health Services
- Professional Services
- Leisure and hospitaity
It should be painfully obvious that we are and have been trading jobs that add value to the economy (build stuff and make things) for jobs of questionable value.
We also must wonder how many private jobs are created to provide services to the government. This is one important bit of data that is not maintained by the Bureau of Labor Statistics. What are we accomplishing if the government is â€œgrowing slowerâ€ while the private sector providing services to the government is growing faster? The net is that government growth is out of control and we donâ€™t even know it!
Here we are with the Dollar sitting at a record lowâ€¦a low that should reverse our trade deficit with booming exports. But guess whatâ€¦Weâ€™ve already shipped our manufacturing capacity overseas so thatâ€™s not going to happen The only sector that can (and is) taking advantage of the situation is agriculture becauseâ€¦miracle of miraclesâ€¦we still do grow most of our food.
Chuck Angier is self-employed inagri-business in Virginia. He can be reached at