The Bureau of Labor and Statistics (BLS) has released the May jobs report {DATA HERE} showing a net 390,000 jobs added overall.
The leisure and hospitality sector gained 84,000, as restaurants and hotels appear to be recovering from the massive pandemic losses. However, within the reporting there is concern about the sectors that are now showing signs of increased employment weakness, including 61,000 job losses in retail.
The unemployment rate remains the same at 3.6% in May. About 330,000 people joined the labor force, however the participation rate remains below prepandemic levels.
Most analysts like the Wall Street Journal are explaining the contradictory sector specific numbers by saying, “Consumers, who loaded up on goods such as televisions and furniture early in the pandemic, have started to shift their spending to in-person services such as travel or restaurant meals.” While there may be some truth to that outlook, it appears that most macro-perspectives are still discounting the extreme increases in price that are now baked into this new ‘transitional economy.’
Consumer purchasing is very prioritized because food, fuel, energy and housing are now eating up much more of the average person’s paycheck. People cannot pay 30 to 50% more at the gas station and grocery store and still retain disposable income for durable goods purchases. That’s the basic issue.
At the same time as the European Union has
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
After initially telling everyone, “We’re celebrating Pride Month at the Ramstein Library with Drag Queen Storytime! Be sure to wear your brightest and most colorful outfits!,” apparently, the chief of public affairs, Lt. Col. Will Powell, now says the event did not go through the vetting process prior to the announcement.