June 7, BLS Jobs report: Americans losing jobs Y-o-Y

It could be anything from outsourcing, to AI, to illegal immigration, to simply the “bust” part of boom-to-bust caused by too much COVID-era Fed action.

I believe it is the last one, hence the reason I don’t blame Joe Biden (much) for it.

But what we know for sure is that pretending it is not happening is a really really bad response.

Seems to be SOP.

1 Like