What Happened to All the Jobs

We all saw the disappointing job numbers that were recently released. A jobless recovery is no recovery at all, especially when you add it to very tight lending requirements and no equity to borrow against.

One of the better commentaries I’ve seen on this recently was John Mauldin’s piece on his “Thoughts from the Frontline” blog.

In a recent blog post, John points out:

First, there were only 18,000 jobs created in June, the lowest since September 2010. While private employment rose by 57,000, government workers dropped by 39,000, continuing a trend as governments at all levels work to cut their budgets. Long-time readers know I think it is important to look at the direction of the revisions, and we got no help. May was revised down by 29,000 jobs and April a further down 15,000.

More jobs is the key to the recovery. I’ll give you my thoughts on the key to more jobs in a future post.