White House economic adviser Jason Furman told Chuck Todd not to pay any attention to the latest dismal jobs report that failed to meet expectations. Do you think he’d be saying that if it was all good news?
You know, I don’t think you want to read too much — as I said to you before, Chuck — into any given jobs reports. If you look at the last two months, it’s 2.3 million sector jobs. 142,000 was a little below expectations, and other months, it’s a little above expectations and it’s averaging out. One of the things we find most encouraging is that unemployment rate came down to 6.6%.
The babbling continued, with him bragging about how the deficit has come down. No mention of how it came down from the record high under his boss’s watch and is still at unprecedented levels. Oh, and it wasn’t 142,000 jobs, it was 118,000. And the only reason the unemployment rate keeps dropping is that people keep leaving the labor market. But of course he doesn’t mention that.